<SEC-DOCUMENT>0001144204-16-093149.txt : 20160407
<SEC-HEADER>0001144204-16-093149.hdr.sgml : 20160407
<ACCEPTANCE-DATETIME>20160407072320
ACCESSION NUMBER:		0001144204-16-093149
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		114
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20160407
DATE AS OF CHANGE:		20160407

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:		161558761

	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>v433539_20f.htm
<DESCRIPTION>20-F
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">UNITED
STATES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">SECURITIES
AND EXCHANGE COMMISSION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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"><FONT STYLE="font-family: Wingdings"><B>&uml;</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="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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"><FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD><TD><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December&nbsp;31,
2015</B></TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD><TD STYLE="font-style: normal; font-weight: normal"><B>TRANSITION
                                         REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the
                                         transition period from </B><FONT STYLE="font-weight: normal; font-style: normal"><U STYLE="text-decoration: none">__________
                                         </U></FONT><B>to</B> ___________</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD><TD><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this
shell company report ____________</B></TD></TR></TABLE>

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

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

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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">666 Longdu Avenue<BR>
Wanzhou, Chongqing 404000<BR>
The People&rsquo;s Republic of China<BR>
(Address of principal executive offices)</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Ming Yang, Chief Financial Officer<BR>
Tel: +86-23&nbsp;6486-6677<BR>
Fax: +86-23&nbsp;6486-6688<BR>
666 Longdu Avenue<BR>
Wanzhou, Chongqing 404000<BR>
The People&rsquo;s Republic of China<BR>
(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: bottom; width: 49%; border-bottom: Black 1pt solid; text-align: center"><B>Title of Each Class</B></TD>
    <TD STYLE="vertical-align: top; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 49%; border-bottom: Black 1pt solid; text-align: center"><B>Name of Exchange on Which Registered</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">American depositary shares, each representing<BR>
25 ordinary shares<BR>
Ordinary shares, par value US$0.0001 per share*</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">New York Stock Exchange</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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">*</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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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: 0.25in">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. <B>260,836,578
ordinary shares, par value US$0.0001 per share, as of December&nbsp;31, 2015</B>.</P>

<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-indent: 0.25in">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;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<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-indent: 0.25in">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) of the Securities
Exchange Act of 1934.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<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-indent: 0.25in">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: Wingdings">&thorn;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<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-indent: 0.25in">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: Wingdings">&thorn;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%; text-align: center; text-indent: 0in">Large accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 33%; text-align: center; text-indent: 0in">Accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD>
    <TD STYLE="width: 33%; text-align: center; text-indent: 0in">Non-accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></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-indent: 0.25in">Indicate by check mark which basis of accounting
the registrant has used to prepare the financial statements included in this filing:</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="padding-right: 0; padding-left: 0; width: 15%; text-align: left">U.S. GAAP&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 70%">International Financial Reporting Standards as issued by the International Accounting Standards Board&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; width: 15%">Other&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></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-indent: 0.25in">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.
Item&nbsp;17&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;18&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<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-indent: 0.25in">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: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&thorn;</FONT></P>

<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-indent: 0.25in">(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-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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;<FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 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; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%"><A HREF="#a_001">INTRODUCTION</A></TD>
    <TD STYLE="width: 10%; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD><A HREF="#a_002">FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><A HREF="#a_003">PART I</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_004">ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_005">ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_006">ITEM 3. KEY INFORMATION</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_007">ITEM 4. INFORMATION ON THE COMPANY</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">29</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_008">ITEM 4A. UNRESOLVED STAFF COMMENTS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">43</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_009">ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">43</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_010">ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">65</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_011">ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">75</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_012">ITEM 8. FINANCIAL INFORMATION</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_013">ITEM 9. THE OFFER AND LISTING</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_014">ITEM 10. ADDITIONAL INFORMATION</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">78</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_015">ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">86</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_016">ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">86</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in"><A HREF="#a_017">PART II</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">88</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_018">ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">88</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_019">ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">88</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_020">ITEM 15. CONTROLS AND PROCEDURES</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">89</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_021">ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">91</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_022">ITEM 16B. CODE OF ETHICS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">91</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_023">ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">91</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_024">ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">91</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_025">ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">91</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_026">ITEM 16F. CHANGE IN REGISTRANT&rsquo;S CERTIFYING ACCOUNTANT</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">92</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_027">ITEM 16G. CORPORATE GOVERNANCE</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">92</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_028">ITEM 16H. MINE SAFETY DISCLOSURE</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">92</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0in"><A HREF="#a_029">PART III</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">92</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_030">ITEM 17. FINANCIAL STATEMENTS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">92</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_031">ITEM 18. FINANCIAL STATEMENTS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">92</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; padding-left: 0.25in"><A HREF="#a_032">ITEM 19. EXHIBITS</A></TD>
    <TD STYLE="text-align: right; text-indent: 0in">93</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#a_033">SIGNATURES</A></TD>
    <TD STYLE="text-align: right">95</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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_001"></A>INTRODUCTION</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 0.25in"></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; or &ldquo;Daqo Cayman&rdquo; refers to Daqo
New Energy Corp., its subsidiaries and, until December 30, 2013, its consolidated variable interest entity;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">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 RMB6.4778 to US$1.00, the exchange rate set forth in
the H.10 statistical release of the Board of Governors of the Federal Reserve System on December 31, 2015. 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: 0.25in">&nbsp;</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_002"></A>FORWARD-LOOKING
STATEMENTS</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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">&nbsp;</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; text-indent: 0in"><A NAME="a_003"></A>PART
I</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_004"></A>ITEM 1. IDENTITY OF DIRECTORS, SENIOR
MANAGEMENT AND ADVISERS</P>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_005"></A>ITEM 2. OFFER STATISTICS AND EXPECTED
TIMETABLE</P>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_006"></A>ITEM 3. KEY INFORMATION</P>

<P STYLE="font: bold 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; text-indent: 0in">A.&#9;Selected Financial Data</P>

<P STYLE="font: bold 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: 0.25in">The following selected data from the consolidated
statement of operations for our company for the three years ended December 31, 2013, 2014 and 2015 and the balance sheet data as
of December 31, 2014 and 2015 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 year ended December 31, 2011 and 2012 and our consolidated
balance sheet data as of December 31, 2011, 2012 and 2013 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 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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="18" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December 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><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">2014</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">2015</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">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">US$</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">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">US$</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">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="18" NOWRAP STYLE="font-weight: bold; text-align: center">(in thousands of US$, except share, per share and per ADS data)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Consolidated Statement of Operations Data:</TD><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: White">
    <TD STYLE="width: 55%">Revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">232,170</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: 6%; text-align: right">86,858</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: 6%; text-align: right">109,000</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: 6%; text-align: right">182,572</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: 6%; text-align: right">182,041</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Cost of revenues <SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt">&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</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</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</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">(139,309</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">(144,491</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">87,224</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(37,432</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26,103</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,263</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,550</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Operating expenses <SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(36,472</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">(51,086</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">(174,528</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">(11,228</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">(11,326</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(88,518</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(200,631</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,035</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,224</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">43,490</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(102,992</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(219,819</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,649</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,185</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income tax expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,718</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,253</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,272</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">(1,138</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -4.5pt; padding-left: 4.5pt">Net income (loss) from continuing operation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,772</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</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(221,091</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,649</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,047</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: -4.5pt; padding-left: 4.5pt">Total loss from discontinued operation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,858</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</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><TD STYLE="padding-bottom: 1pt">&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(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net income (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">34,914</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">(115,637</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">(221,091</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">16,649</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">13,047</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; text-indent: -4.5pt; padding-left: 4.5pt">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</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</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</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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">91</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -5.85pt; padding-left: 5.85pt">Net income (loss) attributable to Daqo New Energy shareholders</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33,324</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">(111,929</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">(70,944</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">16,649</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">12,956</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: -6.75pt; padding-left: 6.75pt"><FONT STYLE="font-size: 10pt">Earnings (loss) per
ADS <SUP>(2) </SUP>Continuing operations</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15.75</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10.25</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.02</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -6.75pt; padding-left: 6.75pt">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">(0.75</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">(0.25</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><TD STYLE="padding-bottom: 1pt">&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: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -6.75pt; padding-left: 6.75pt">Basic</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">4.75</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">(16.00</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">(10.25</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">2.02</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">1.26</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15.75</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10.25</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.97</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.24</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: -9pt; padding-left: 9pt">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">(0.75</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">(0.25</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><TD STYLE="padding-bottom: 1pt">&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(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -6.75pt; padding-left: 6.75pt">Diluted</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">4.75</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">(16.00</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">(10.25</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">1.97</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">1.24</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Ordinary shares used to 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><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(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -6.75pt; padding-left: 6.75pt">Basic &ndash; ordinary 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><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">206,349,976</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">258,015,851</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; text-indent: -6.75pt; padding-left: 6.75pt">Diluted &ndash; 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><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">211,353,643</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">261,411,933</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 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


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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>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(1)</SUP></TD><TD>Includes share-based compensation expenses in the amount of $1.9 million, $1.8 million and $3.7 million for the years ended
December 31, 2013, 2014 and 2015, respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(2)</SUP></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 (5) ordinary shares to one (1) ADS 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>

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<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="18" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><SUP>&nbsp;</SUP></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><SUP>&nbsp;</SUP></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><SUP>&nbsp;</SUP></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -5.85pt; padding-left: 5.85pt">Other Financial and Operating Data:</TD><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"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 55%; text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Polysilicon production volume (in MT)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">4,524</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: 6%; text-align: right">3,349</TD><TD STYLE="width: 1%; text-align: left"><SUP>(1)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">4,805</TD><TD STYLE="width: 1%; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">6,560</TD><TD STYLE="width: 1%; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">9,771</TD><TD STYLE="width: 1%; text-align: left"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Polysilicon sales volume (in MT)<SUP> (2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,947</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,262</TD><TD STYLE="text-align: left"><SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,283</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,972</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,234</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Unit cost of polysilicon sold (in $/kg)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.9</TD><TD STYLE="text-align: left"><SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.02</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.68</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.23</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></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>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(1)</SUP></TD><TD>Excluding 617 MT polysilicon produced in Xinjiang facilities during the pilot production period.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(2)</SUP></TD><TD>The polysilicon sales volume here only refers to external sales. Internal sales to our in-house wafer facilities were 770 MT,
671 MT and 1,316 MT in 2013, 2014 and 2015, respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(3)</SUP></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(4)</SUP></TD><TD>The unit cost here only refers to the polysilicon made in Xinjiang facilities.</TD></TR></TABLE>

<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">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">&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="18" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of December 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="18" NOWRAP STYLE="font-weight: bold; text-align: center">(in thousands of US$)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Consolidated Balance Sheet Data:</TD><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: White">
    <TD STYLE="width: 55%; text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">92,697</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: 6%; text-align: right">6,679</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: 6%; text-align: right">7,831</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: 6%; text-align: right">7,068</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: 6%; text-align: right">14,490</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,650</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</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,169</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,063</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">179,453</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,511</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</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121,949</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88,777</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">636,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">677,895</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</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">559,006</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">544,326</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">878,477</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">816,308</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">610,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">710,131</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">660,851</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Short-term bank borrowings, including current portion of long-term borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111,805</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,280</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118,871</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">159,804</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123,937</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">217,841</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">260,311</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">299,124</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">396,068</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">275,394</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Long-term bank borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">165,646</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">187,521</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</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77,336</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118,548</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Total liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">426,450</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,430</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">472,873</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">503,363</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">419,195</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Total shareholders&rsquo; equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">311,178</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">202,106</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">137,327</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,768</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">240,354</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Noncontrolling interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">140,848</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</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">1,302</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Total equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">452,026</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">340,878</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">137,327</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,768</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">241,656</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Total liabilities and equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">878,477</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">816,308</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">610,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">710,131</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">660,851</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">B.</TD><TD>Capitalization and Indebtedness</TD></TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">C.</TD><TD>Reasons for the Offer and Use of Proceeds</TD></TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 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">D.</TD><TD>Risk Factors</TD></TR></TABLE>

<P STYLE="font: bold 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; text-indent: 0in">Risks Related to Our Business</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Our ability to maintain our 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>and other renewable energy sources and products;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In the event that photovoltaic technologies
do not develop in a manner that increases the demand for polysilicon or demand for solar products does not expand as we expect,
average selling prices may move downward as a result, 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">The imbalance between polysilicon
supply and demand could cause polysilicon prices to decline and materially and adversely affect our profitability.</P>

<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-indent: 0.25in">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 such trend
continued into 2015. Nevertheless, the average selling price of polysilicon in China was under pressure since the fourth quarter
of 2014 and through the whole year of 2015 due to rising polysilicon supply both from overseas and domestic polysilicon manufacturers.
If the imbalance between polysilicon supply and demand continues to exist, it could cause polysilicon prices to continue to decline
and thus materially and adversely affect our profitability.</P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">We may not be able to continue
to receive the same level of support from Daqo Group Co., Ltd., or Daqo Group, a related party of ours, which may 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Since our inception, we have substantially
benefited from financial support from Daqo Group, one of the largest electrical equipment manufacturers in China, and we expect
to continue to benefit from Daqo Group in the foreseeable future. As of December 31, 2015, we had amounts due to Daqo Group and
its subsidiaries in the form of interest-free loans of $46.4 million which are payable on demand. Please see &ldquo;&mdash; 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&rdquo;
below. 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">We incurred substantial net losses
in 2012 and 2013. Although we generated a profit in 2014 and 2015, we may experience future losses and may not be able to generate
sufficient revenues in the future to sustain profitability.</P>

<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-indent: 0.25in">As a result of the slump in the global
demand for and sales price of polysilicon, we incurred a net loss of $115.6 million 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.</P>

<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-indent: 0.25in">We had net income of $16.7 million in 2014
as a result of our continuous cost reduction efforts and increased global demand for and sales price of polysilicon, as well as
a decrease in depreciation expenses of approximately $18.7 million. Since January 1, 2014, we revised the estimate of the expected
useful lives of the machinery and equipment from 10 years to 15 years, and the buildings and structures from 20 years to 30 years,
which reduced depreciation expenses by approximately $18.7 million. We had net income of $13.0 million in 2015 as a result of our
expanded capacities, growing sales volume and our continuous cost reduction efforts for both polysilicon and wafer manufacturing
operations. Although we generated a profit in 2014 and 2015, we may not be able to sustain profitability and our cash flows may
be negative again in the future. Please see &ldquo;&mdash; Our revenues and results of operations have fluctuated and are likely
to fluctuate in the future&rdquo; below.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">We had a significant working capital
deficit as of December 31, 2015. Daqo Group provides financial support to us to meet certain of our working capital requirements
and obligations as they become 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The challenging solar photovoltaic market
situation in 2012 characterized by declining prices across 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, 2015, we had a working capital deficit (being our
total consolidated current liabilities less our total consolidated current assets) of $186.6 million. In addition, we have made
and expect to continue to make significant capital expenditures on our expansion project at our Xinjiang polysilicon facilities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Our continuation as a going concern is
dependent upon financial support from Daqo Group 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 become due. As of December
31, 2015, we had amounts due to Daqo Group and its subsidiaries in the form of interest-free loans of $46.4 million. On February
22, 2016, we obtained a letter of financial support from Daqo Group and certain of our other shareholders in which they have committed
to provide us with sufficient funding to support our operations during the twelve months ending December 31, 2016. Further, the
letter of financial support provides that Daqo Group will not require us to pay the amounts that we owed to Daqo Group and three
of its subsidiaries, Daqo Solar Co., Ltd, or Daqo Solar, Xinjiang Daqo Investment Co., Ltd., or Xinjiang Daqo Investment, and Daqo
New Material, as of December 31, 2015, before January 1, 2017. In addition, Dago Group will provide us with funding to support
us to repay all the financial obligations already committed related to the expansion project at our Xinjiang facilities and we
are not required to repay such amounts before January 1, 2017. Meanwhile, we have committed to Daqo Group that we will implement
our expansion project based on our available financial resources. However, we can provide no assurances that Daqo Group and our
shareholders will honor their undertakings under the letter of financial support. If  Daqo Group or its subsidiaries were to
be unable to honor their undertakings under the letter of financial support or if the industry reverses its current upward trend
in demand, 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: 0.25in">&nbsp;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">When upfront system costs are factored
into cost per kilowatt hour, the current cost of solar power still 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 2013, the German government announced plans to reduce
the expansion of solar power after Germany added 7.5 gigawatts, or GW, and 7.6 GW of capacity in 2011 and 2012, respectively, to
bring its total to 32.6 GW, which was nearly as much as the rest of the world combined. In 2014, the total solar PV installation
in Germany was 1.9 GW, decreased from 3.3 GW in 2013. 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 slowdown of the European
and Chinese economy in 2013 and 2014 may continue to exert downward pressure on the amount of government subsidiaries for solar
energy applications in these two regions. In 2014, although global solar PV installations increased by over 23.3% compared to 2013,
the European markets shrank significantly in major markets like Germany, Italy and Spain. In 2015, global solar PV installations
increased by approximately 27% to 57 GW, compared to 45 GW in 2013. Nevertheless, oil prices started to decline significantly since
the second half of 2014 and through the whole year of 2015. If the decrease in oil prices continues, government incentives provided
to the solar industry in major markets may be reduced, which may result in a decrease in average selling prices of polysilicon.
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: 0.25in">&nbsp;</P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Although we were profitable in 2011, we
experienced significant decreases in revenue and incurred substantial net losses in 2012 and 2013. We had positive net income in
2014 and 2015. However, our limited operating history makes the prediction of future results of operations difficult, and therefore,
it is unclear if we could sustain revenue growth or profitability 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: 0.25in">&nbsp;</P>

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

<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-indent: 0.25in">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 revenue has improved since 2013 and we
have regained profitability in 2014 and 2015, our revenues and results of operations may worsen again if one or more of these factors
become unfavorable to our business.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">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 and our Chongqing wafer facilities 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.</P>

<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-indent: 0.25in">We have relied in the past and expect in
the next 12 months to continue to rely mainly on operating cash flows, renewal and roll-over of our bank credit facilities and
financial support from Daqo Group to finance our working capital and capital expenditures requirements. The photovoltaic markets
remain competitive, and 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<TD STYLE="width: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>development and sustainability of global economic recovery.</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-indent: 0.25in">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 maintain profitability may be
materially and adversely affected.</P>

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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">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, REC, GCL and
SMP currently operate or are constructing facilities that use the &ldquo;fluidized bed reactor&rdquo; method for producing polysilicon
using saline (SiH4) as feed-in gas. 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: 0.25in">&nbsp;</P>

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

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


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

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

<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-indent: 0.25in">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. Although in general, thin-film solar cells
are currently not as competitive as silicon-based solar cells in terms of efficiency and cost, thin-film solar cells have their
own dominating niche markets, for example, the markets for the building integrated PV applications. 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: 0.25in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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. The construction and installation of our Phase 2B
expansion project was completed during the second quarter of 2015 and achieved full production capacity in the third quarter of
2015, which increased our polysilicon annual capacity from 6,150 MT to 12,150 MT. Our board of directors has approved our Phase&nbsp;3A
expansion project in Xinjiang, which is expected to increase the polysilicon production capacity at the Xinjiang manufacturing
facilities from the current level of 12,150 MT to 18,000 MT. The Phase 3A expansion project was officially launched in August 2015
and is expected to be completed by the end of 2016. We expect to commence initial production of the Phase 3A project in the first
quarter of 2017 and achieve full production capacity by the end of the second quarter of 2017. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As part of our expansion project, we decided
to relocate existing machinery and equipment in our polysilicon facilities in Chongqing, with total book value of $116.1 million
as of December 31, 2013, to our Xinjiang facilities. As of December 31, 2015, we had relocated machinery and equipment of approximately
$41.0 million in book value. After a comprehensive analysis of the capacity and comparability of the Chongqing machinery and equipment,
we concluded that it would be more efficient to use the remaining machinery and equipment in Chongqing in our Phase 3A expansion,
which is expected to fully ramp up by the end of the second quarter of 2017, as compared with using them in our Phase 2B project.
If we fail to complete our Phase 3A expansion, or if we fail to successfully relocate, install or utilize the remaining machinery
and equipment in the Phase 3A expansion, we may incur significant impairment losses related to such remaining machinery and equipment
of approximately $59.1 million in book value, and our operating results and financial condition may be materially and adversely
affected as a result. In 2015, we incurred an impairment charge of $1.6 million attributable to certain identified remaining assets
in Chongqing that were not transferrable and could not be reutilized in our Xinjiang expansion project.</P>

<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-indent: 0.25in">In addition, 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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 in Chongqing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extremely cold temperatures;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>political or social unrest.</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-indent: 0.25in">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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">Furthermore, under the letter of financial
support we obtained from Daqo Group on February 22, 2016, we are required to immediately suspend the expansion project at our Xinjiang
facilities if we do not have sufficient financial resources to continue the project after we repay all other financial obligations
as they become due in the twelve months ending December 31, 2016.<B><I> </I></B>See &ldquo;&mdash; We had a significant working
capital deficit as of December 31, 2015. Daqo Group provides financial support to us to meet certain of our working capital requirements
and obligations as they become 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; above.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">If we are unable to manage our
expansion 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In 2013 through 2015, we experienced a
period of growth and expansion in terms of production capacity and sales volume. We achieved a nameplate capacity of 6,150 MT in
the first quarter of 2014 and further ramped up our nameplate capacity to 12,150 MT in the third quarter of 2015. In 2013, 2014
and 2015, we sold 4,283 MT, 5,972 MT and 8,234 MT, respectively, of polysilicon (excluding internal sales to our in-house wafer
facilities). Our Phase 3A expansion project, which is expected to increase our polysilicon capacity further to 18,000 MT by the
end of the second quarter of 2017, has been approved by our board of directors and was launched in August 2015. To accommodate
our continued expansion, 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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; text-indent: 0in">&nbsp;</P>


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">The photovoltaic market is expected to
become increasingly competitive. Our competitors include international polysilicon and wafer manufacturers, such as Hemlock, Wacker,
OCI, REC, MEMC, and Chinese domestic polysilicon and wafer manufacturers, such as GCL-Poly, Xinte Energy Co., Ltd., Asia Silicon
Co., Ltd., China Silicon Corporation and Yongxiang Co., Ltd., among others. In addition, some solar cell and module manufacturers,
including some of our existing and potential customers may have 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: 0.25in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In 2013, 2014 and 2015, our top three customers
in aggregate accounted for approximately 38.5%, 32.1% and 40.5% 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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; text-indent: 0in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As of December 31, 2015, we had outstanding
long-term bank borrowings including current portion of long-term borrowings of $170.1 million with a weighted average interest
rate of 5.68%, and outstanding short-term bank borrowings of $72.4 million with a weighted average interest rate of 5.40%, and
we expect to incur additional debt in the future. We borrowed the majority of these bank loans from Bank of China and Chongqing
Rural Commercial Bank with guarantees from Daqo Group. 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) 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) subjecting us to the risk of interest rate increases on our
indebtedness which bears floating interest rates; and (3) 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: 0.25in">&nbsp;</P>


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

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

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">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 facilities 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, in April 2013, we temporarily
shut down our Phase 2 facilities in Xinjiang for periodic maintenance and technology improvements. In April 2014, we temporarily
shut down our Phase 2 facilities in Xinjiang for periodic maintenance and preparation for the Hydrochlorination project. In May
2015, we conducted annual maintenance of the Xinjiang polysilicon facilities, which affected our polysilicon production for five
days. 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: 0.25in">&nbsp;</P>


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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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

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

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


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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 25 patents and have 15 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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">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 Related 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; below. 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: 0.25in">&nbsp;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">Our future success depends substantially
on the continued services of our executive officers and key employees, especially Mr. Guangfu Xu, our chairman, and Dr. 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 Related 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; below.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">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 owned a total of 91,068,942
or 34.1% of our ordinary shares, including shares that they had the right to acquire within 60 days. 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
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: 0.25in">&nbsp;</P>


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">If we are unable to attract, train
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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">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 November 2018 and can be renewed for additional three-year terms upon Chongqing Daqo&rsquo;s application and the government&rsquo;s
approval. On November 25, 2014, Xinjiang Daqo New Energy Stock Co., Ltd., formerly known as Xinjiang Daqo New Energy Co., Ltd.,
or Xinjiang Daqo, another Chinese subsidiary of ours, obtained a High and New Technology Enterprise, or HNTE, certificate for a
valid period of 3 years till 2016. During the year ended December 31, 2015, Xinjiang Daqo was entitled to a preferential tax rate
of 15% because of its HNTE status. 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 or Xinjiang Daqo will continue to qualify
as a &ldquo;high and new technology enterprise&rdquo; in future periods. 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.</P>

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

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


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<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-indent: 0.25in">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 circular to clarify criteria for determining the &ldquo;resident enterprise&rdquo; status
of foreign companies which are controlled by PRC enterprises or PRC enterprise groups. Pursuant to the circular, to determine whether
a company formed outside of mainland China and controlled by PRC enterprises or PRC enterprise groups 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 classify 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Moreover, if Daqo Cayman is classified
as a &ldquo;resident enterprise&rdquo; in China, non-resident enterprise ADS holders may be subject to a 10% withholding tax (20%
in the case of non-PRC 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 non-PRC individual ADS holders). 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: 0.25in">&nbsp;</P>

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">We adopted our 2009 share incentive plan,
or the 2009 Plan, and our 2014 share incentive plan, or the 2014 Plan, in August 2009 and December 2014, respectively, that permit
the grant of stock options, restricted shares and restricted share units to employees, directors and consultants of our company.
Under the 2009 Plan and the 2014 Plan, we may issue awards to purchase up to 15,000,000 and 21,000,000 ordinary shares, respectively.
As of the date of this annual report, excluding expired or cancelled options, we have granted options to purchase a total of 19,337,691
of our ordinary shares under these plans. In addition, we modified the exercise prices for certain outstanding options in January
2012, April 2013, January 2015 and September 2015 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 plans, 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 plans to us. However, if we limit the scope of our share incentive plans, 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: 0.25in">&nbsp;</P>


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

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

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

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

<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-indent: 0.25in">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 the recent years. It is unclear whether the European sovereign debt crisis will
be contained and whether the rate of growth of the Chinese economy will continue slowing down. 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 territorial disputes involving China in Asia and the 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: 0.25in">&nbsp;</P>

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

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

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

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


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The State Administration of Foreign Exchange,
or 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">SAFE promulgated the Circular on Relevant
Issues Concerning Foreign Exchange Control on Relating to Domestic Resident&rsquo;s Offshore Investment and Financing and Roundtrip
Investment through Special Purpose Vehicles, or SAFE Circular 37, in July 2014 that requires PRC residents or entities to register
with SAFE or its local branch in connection with their establishment or control of any special purpose vehicles established for
the purpose of overseas investment or financing. In addition, such PRC residents or entities must update their SAFE registrations
when the offshore special purpose vehicle undergoes material events relating to any change of basic information (including change
of such PRC citizens or residents, name and operation term), increases or decreases in investment amount, transfers or exchanges
of shares, or mergers or divisions.</P>

<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-indent: 0.25in">SAFE Circular 37 is issued to replace the
Notice on Relevant Issues Concerning Foreign Exchange Administration for PRC Residents Engaging in Financing and Roundtrip Investments
via Overseas Special Purpose Vehicles, or SAFE Circular 75.</P>

<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-indent: 0.25in">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 SAFE registration requirement 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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">We have, up to the present, completed SAFE
registration for all current beneficial shareholders of our company who are, to our knowledge, Chinese residents. However, we may
not be fully informed of the identities of the beneficial owners of our company 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 making distributions or paying
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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We have completed registration for options
granted as of the date of this annual report. For future option grants, 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">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 product of 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 ratio of the paid-in capital to the committed registered capital, 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 are $286.0 million and $300.6 million, respectively. The
registered capital of Chongqing Daqo is $96.0 million contributed by Daqo Cayman as the sole investor. The registered capital of
Xinjiang Daqo is $100.3 million, of which $99.3 million was contributed by Daqo Cayman and $1.0 million was contributed by Xinjiang
Daqo Investment Co., Ltd., an PRC entity that is a wholly-owned subsidiary of Daqo Group. As a result, the maximum permissible
amounts that Chongqing Daqo and Xinjiang Daqo may borrow from Daqo Cayman are $190.0 million and $200.3 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: 0.25in">&nbsp;</P>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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. See &ldquo;&mdash; Risks Related 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.25in; text-indent: 0.25in"><B><I>Fluctuations in exchange
rates could result in foreign currency exchange losses.</I></B></P>

<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-indent: 0.25in">The value of the RMB against the U.S. dollar
and other currencies is affected by changes in China&rsquo;s political and economic conditions and by China&rsquo;s foreign exchange
policies, among other things. In July 2005, the PRC government changed its decades-old policy of pegging the value of the RMB to
the U.S. dollar, and the RMB appreciated more than 20% against the U.S. dollar over the following three years. Between July 2008
and June 2010, this appreciation halted and the exchange rate between the RMB and the U.S. dollar remained within a narrow band.
Since June 2010, the RMB has fluctuated against the U.S. dollar, at times significantly and unpredictably. 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.</P>

<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-indent: 0.25in">The financial records of our PRC subsidiaries
are maintained in Renminbi, which is their functional currency. We are therefore exposed to fluctuations in the exchange rate between
the U.S. dollar and Renminbi. We do not currently hedge, and have not historically hedged, our operational exposure to this foreign
currency fluctuation. Our consolidated financial results are presented in U.S. dollars, and therefore, during times of a strengthening
U.S. dollar versus Renminbi, our reported revenue and earnings that are denominated in Renminbi will be reduced because the Renminbi
will translate into fewer U.S. dollars. In addition, 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 arising from the use of differing exchange
rates from period to period are recorded as cumulative translation adjustments and are shown as a separate component of other comprehensive
income in our statement of changes in equity and comprehensive income. Accordingly, changes in currency exchange rates will cause
our revenues, expenses, gains and losses, shareholders&rsquo; equity, and comprehensive income to fluctuate, and such fluctuations
may have an 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Furthermore, any significant depreciation
of the Renminbi against the U.S. dollar may have a material adverse effect on the value of, and any dividends payable on, our ADSs
and ordinary shares. If we decide to convert our Renminbi into U.S. dollars for the purpose of making payments for dividends on
our ordinary shares or for other business purposes, depreciation of the Renminbi against the U.S. dollar would reduce the U.S.
dollar amount available to us. On the other hand, to the extent that we need to convert U.S. dollars into Renminbi for our operations,
appreciation of the Renminbi against the U.S. dollar would have an adverse effect on the RMB amount we receive from the conversion.
In addition, the value of your investment in our ADSs will be affected by the exchange rate between U.S. dollar and Renminbi because
the value of our business is effectively denominated in Renminbi, while the ADSs will be traded in U.S. dollars. Fluctuation in
the value of the Renminbi in either direction could have a material adverse effect on the value of our company and the value of
your investment.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We are subject to the reporting obligations
under the U.S. securities laws. 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 the 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.
In 2012, we have made enhancements to our internal controls over financial reporting. 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, December 31, 2013, December 31, 2014 and December 31, 2015. As of December 31, 2015, our management concluded
that our internal control over financial reporting was effective.&nbsp;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 2013. For the years
ended December 31, 2014 and 2015, our independent registered public accounting firm performed an audit of our internal control
over financial reporting.</P>

<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-indent: 0.25in">However, 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Proceedings instituted by the
SEC against five PRC-based accounting firms, including our independent registered public accounting firm, 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Starting in 2011 the Chinese affiliates
of the &lsquo;&lsquo;big four&rsquo;&rsquo; accounting firms, including our independent registered public accounting firm, were
affected by a conflict between U.S. and Chinese law. Specifically, for certain U.S.-listed companies operating and audited in mainland
China, the SEC and the Public Company Accounting Oversight Board, or the PCAOB, sought to obtain from the Chinese firms access
to their audit work papers and related documents. The firms were, however, advised and directed that under Chinese law, they could
not respond directly to the US regulators on those requests, and that requests by foreign regulators for access to such papers
in China had to be channeled through the China Securities Regulatory Commission, or the CSRC.</P>

<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-indent: 0.25in">In late 2012 this impasse led the SEC to
commence administrative proceedings under Rule 102(e) of its Rules of Practice and also under the Sarbanes-Oxley Act of 2002 against
the Chinese accounting firms, including our independent registered public accounting firm. A first instance trial of the proceedings
in July 2013 in the SEC&rsquo;s internal administrative court resulted in an adverse judgment against the firms. The administrative
law judge proposed penalties on the firms including a temporary suspension of their right to practice before the SEC, although
that proposed penalty did not take effect pending review by the Commissioners of the SEC. On February 6, 2015, before a review
by the Commissioner had taken place, the firms reached a settlement with the SEC. Under the settlement, the SEC accepts that future
requests by the SEC for the production of documents will normally be made to the CSRC. The firms will receive matching Section&nbsp;106
requests, and are required to abide by a detailed set of procedures with respect to such requests, which in substance require them
to facilitate production via the CSRC. If they fail to meet specified criteria, the SEC retains authority to impose a variety of
additional remedial measures on the firms depending on the nature of the failure. Remedies for any future noncompliance could include,
as appropriate, an automatic six-month bar on a single firm&rsquo;s performance of certain audit work, commencement of a new proceeding
against a firm, or in extreme cases the resumption of the current proceeding against all four firms.</P>

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


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<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-indent: 0.25in">In the event that the SEC restarts the
administrative proceedings, 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 Securities Exchange Act of 1934, as amended, or the Exchange
Act, including possible delisting. Moreover, any negative news about any such future 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If our independent registered public accounting
firm were denied, even temporarily, the ability to practice before the SEC and we were unable to timely find another registered
public accounting firm to audit and issue an opinion on our financial statements, our financial statements could be determined
not to be in compliance with the requirements of the Exchange Act. Such a determination could ultimately lead to the delisting
of our ordinary shares from the NYSE Global Market or deregistration from the SEC, or both, which would substantially reduce or
effectively terminate the trading of our ADSs in the United States.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">The audit report included in this
annual report is prepared by an auditor who is not inspected by the Public Company Accounting Oversight Board and, as such, you
are deprived of the benefits of such inspection.</P>

<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-indent: 0.25in">Our 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 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 professional standards. Because our auditors are located
in the People&rsquo;s Republic of China, a jurisdiction where the PCAOB is currently unable to conduct inspections without the
approval of the Chinese authorities, our auditors are not currently inspected by the PCAOB.</P>

<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-indent: 0.25in">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,
which may be addressed as part of the inspection process to improve future audit quality. This lack of PCAOB inspections in China
prevents the PCAOB from regularly evaluating our auditor&rsquo;s audits and its quality control procedures. As a result, investors
may be deprived of the benefits of PCAOB inspections.</P>

<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-indent: 0.25in">The inability of the PCAOB to conduct inspections
of auditors in China makes it more difficult to evaluate the effectiveness of our auditor&rsquo;s audit procedures or quality control
procedures as compared to auditors outside of China that are subject to PCAOB inspections. Investors may lose confidence in our
reported financial information and procedures and the quality of our financial statements.</P>

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

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

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


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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The closing trading prices of our ADSs
ranged from $11.30 to $31.79 in 2015, and may 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition to market and industry factors,
the price and trading volume for our ADSs may be 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in the ratio of ADSs vs. ordinary shares;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Cayman Islands courts are also unlikely:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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


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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>


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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">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: 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-indent: 0.25in">A non-United States corporation, such as
our company, will be classified as a PFIC, for United States federal income tax purposes, for any taxable year if either (i) 75%
or more of its gross income consists of certain types of &ldquo;passive&rdquo; income or (ii) 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. Based on our income
and assets, we do not believe that we were a PFIC for the taxable year ended December 31, 2015 and do not anticipate becoming a
PFIC in future taxable years, although there can be no assurance in this regard. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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; United States
Federal Income Tax Considerations&rdquo;) may incur significantly increased United States federal income tax on gain recognized
on the sale or other disposition of the ADSs or ordinary shares and on the receipt of distributions on the ADSs or ordinary shares
to the extent such gain or distribution is treated as an &ldquo;excess distribution&rdquo; under the United States federal income
tax rules. 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; United States Federal Income Tax Considerations&mdash;Passive
Foreign Investment Company Rules.&rdquo;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">We are a &ldquo;foreign private
issuer&rdquo;, and have disclosure obligations that are different from those of U.S. domestic reporting companies; as a result,
you should not expect to receive the same information about us at the same time when a U.S. domestic reporting company provides
the information required to be disclosed.</P>

<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-indent: 0.25in">We are a foreign private issuer and, as
a result, we are not subject to the same requirements that are imposed upon U.S. domestic issuers by the SEC. Under the Exchange
Act, we will be subject to reporting obligations that, to some extent, are more lenient and less frequent than those of U.S. domestic
reporting companies. For example, we are not required to issue quarterly reports or proxy statements. We have 120 days to file
our annual report with the SEC for the fiscal years ending on or after December 31, 2011. We are not required to disclose detailed
individual executive compensation information that is required to be disclosed by U.S. domestic issuers. Further, our directors
and executive officers are not required to report equity holdings under Section 16 of the Securities Act and are not subject to
the insider short-swing profit disclosure and recovery regime. As a foreign private issuer, we are also exempt from the requirements
of Regulation FD (Fair Disclosure) which, generally, are meant to ensure that select groups of investors are not privy to specific
information about an issuer before other investors. We are, however, still subject to the anti-fraud and anti-manipulation rules
of the SEC, such as Rule 10b-5 under the Exchange Act. Since many of the disclosure obligations imposed on us as a foreign private
issuer are different than those imposed on U.S. domestic reporting companies, our shareholders should not expect to receive the
same information about us and at the same time as the information received from, or provided by, U.S. domestic reporting companies.</P>

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


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">If securities or industry analysts
do not actively follow our business, or if they publish unfavorable research about our business, our ADS price and trading volume
could decline.</P>

<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-indent: 0.25in">The trading market for our ADS depends
in part on the research and reports that securities or industry analysts publish about us or our business. If one or more of the
analysts who covers us downgrades our ADSs or publishes unfavorable research about our business, our ADS price would likely decline.
If one or more of these analysts ceases coverage of our company or fails to publish reports on us regularly, demand for our ADSs
could decrease, which could cause our ADS price and trading to decline.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_007"></A>ITEM 4. INFORMATION ON THE COMPANY</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">History and Development of the Company</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<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-indent: 0.25in">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 1, 2008 to December 30, 2013.</P>

<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-indent: 0.25in">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
us and Daqo New Material.</P>

<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-indent: 0.25in">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 16, 2006 through June 30, 2008.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">On October 7, 2010, we listed our ADSs,
each representing five ordinary shares of Daqo New Energy Corp., on the New York Stock Exchange, or the NYSE, 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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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

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

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

<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-indent: 0.25in">In November 2013, our board of directors
approved our plan to further expand our capacity in Xinjiang from 6,150 MT to 12,150 MT, or the Phase 2B expansion, in order to
take advantage of the enormous competitive advantage in electricity price in Xinjiang compared to that of Chongqing.</P>

<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-indent: 0.25in">Since we will not continue the technology
improvement project in our Phase 1 facilities and we plan to relocate the idle machinery and equipment from Phase 1 facilities
in Chongqing to Phase 2 facilities in Xinjiang for the expansion project, we (i) ceased production at the Phase 1 polysilicon facilities
in 2013 and 2014, (ii) started the relocation of certain machinery and equipment from the Phase 1 polysilicon facilities to Xinjiang
and (iii) on December 30, 2013, signed 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Following the completion of our Phase 2A
and our capacity enhancement project for Phase 2A, we fully ramped up our nameplate polysilicon production capacity to 6,150 MT
per annum in the first quarter of 2014.</P>

<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-indent: 0.25in">We fully ramped up the full production
capacity of our Phase 2B project to 12,150 MT per annum at the end of the third quarter of 2015, which reduced our average production
cost (including depreciation) and cash cost (excluding depreciation) to $9.74/kg and $7.69/kg in the fourth quarter of 2015, respectively.</P>

<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-indent: 0.25in">In July 2015, our board of directors approved
our Phase 3A expansion project, which is expected to increase the polysilicon production capacity at our Xinjiang polysilicon facilities
from the current level of 12,150 MT to 18,000 MT by the end of the second quarter of 2017.</P>

<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-indent: 0.25in">We are in the process of relocating certain
machinery and equipment from our facilities in Chongqing to our Xinjiang facilities, which has reduced the capital expenditure
requirements for our Phase 2B project. However, we have utilized approximately 40% of our current machinery and equipment previously
planned to be used for our Phase 2B project, as measured by its book value as of December 31, 2015, as certain machinery and equipment
can be more efficiently and cost-effectively used in our future expansions. The remaining Chongqing machinery and equipment that
we do not utilize in our Phase 2B project will be used in the Phase 3A project, which will reduce our capital expenditure requirements.</P>

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


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<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-indent: 0.25in">In November 2013, we achieved great progress
in our wafer business by increasing our annual capacity from 36 million pieces to 72 million pieces. Since 2014, we have been running
our wafer business in full capacity and improved the quality and efficiency for our wafer products. In May 2014, we established
in-house slurry recovery system, which helps us to lower the wafer production cost. In November 2015, we launched a wafer technology
enhancement project at our Chongqing wafer facilities, which is expected to reduce our wafer manufacturing cost and increase our
wafer capacity with a limited capital expenditure requirement. We plan to upgrade our ingot furnaces from Generation 5 to Generation
6 directional solidification casting furnaces and to increase our ingot output from approximately 500 kilograms per batch to approximately
800 kilograms per batch. In addition, we plan to increase our wafering capacity by improving efficiency of the existing wafering
system and acquiring certain used wafering tools from the secondary market. We expect to complete this project by the second quarter
of 2016, which is expected to increase our annual wafer capacity from the current level of 87&nbsp;million pieces to 100 million
pieces.</P>

<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-indent: 0.25in">We are in the process of applying for the
listing of Xinjiang Daqo on the National Equities Exchange and Quotations, or the New Third Board, an emerging over-the-counter
securities market in China. In August 2015, our board of directors and the audit committee approved the restructuring plan of Xinjiang
Daqo in order for it to meet certain PRC legal requirement for listing on the New Third Board. Pursuant to the restructuring plan,
Xinjiang Daqo Investment subscribed for newly issued equity interest of Xinjiang Daqo representing 1% of the total outstanding
equity of Xinjiang Daqo, which restructuring was completed in December 2015. Xinjiang Daqo filed a listing application with the
New Third Board in January 2016.</P>

<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-indent: 0.25in">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, 4th Floor, New York, NY 10017.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Business Overview</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 12,150 MT in Xinjiang. We plan to further
increase the capacity to 18,000 MT by the end of the second quarter of 2017. We have successfully upgraded our off-gas treatment
process from traditional Hydrogenation technology to Hydrochlorination technology. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We have expanded to the downstream photovoltaic
manufacturing businesses to establish facilities for wafer manufacturing. As of the end of 2015, our wafer manufacturing annual
capacity is 87 million pieces. We have reported 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>


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<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: center"><IMG SRC="tpg36.jpg" ALT="">&nbsp;</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: 0.25in">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. Specifically, in Xinjiang where our polysilicon facilities are located, the electricity
rate is much lower than the coastal areas. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 2015, approximately 98.8% of our polysilicon met the solar grade I standard, the highest specification of
the solar grade quality standard, and approximately 74.8% 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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, 2015, our major photovoltaic product customers included operating
entities of Jinko Solar, Jinneng Clean Energy, Meike Silicon Energy, JA Solar and Eging PV.</P>

<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-indent: 0.25in">We commenced commercial production of wafers
using our own polysilicon in July 2011. In November 2015, we launched a wafer technology enhancement project at our Chongqing wafer
facilities, which is expected to reduce our wafer manufacturing cost and increase our wafer capacity with a limited capital expenditure
requirement. We plan to upgrade our ingot furnaces from Generation 5 to Generation 6 directional solidification casting furnaces
and to increase our ingot output from approximately 500 kilograms per batch to approximately 800 kilograms per batch. In addition,
we plan to increase our wafering capacity by improving efficiency of the existing wafering system and acquiring certain used wafering
tools from the secondary market. We expect to complete this project by the second quarter of 2016, which is expected to increase
our annual wafer capacity from the current level of 87 million pieces to 100 million pieces.</P>

<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-indent: 0.25in">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 Related to Our Business&rdquo; for details.</P>

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


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<P STYLE="font: bold 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; text-indent: 0in">Quarterly sales volume table for polysilicon
and wafer in 2015:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&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 STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: -4.5pt"><B>&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: -4.5pt"><B>Sales Volume</B></P></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">First<BR> Quarter</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">Second<BR>
 Quarter</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">Third<BR> Quarter</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">Fourth<BR>
 Quarter</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">FY 2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; text-indent: -5.85pt; padding-left: 5.85pt">Polysilicon (MT)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,502</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">1,363</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">2,277</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">3,092</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">8,234</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: -6.75pt; padding-left: 6.75pt">Wafer (million pieces)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">61.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6.75pt; padding-left: 6.75pt">Wafer OEM (million pieces)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.9</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 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; text-indent: 0in">Our Products</P>

<P STYLE="font: bold 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: 0.25in">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 12,150 MT. We are one of the best quality polysilicon makers in China. In 2015, approximately
98.8% of our polysilicon met the solar grade I standard, the highest specification of the solar grade quality standard, and approximately
74.8% 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, we also offer
high-quality wafers through our downstream photovoltaic product manufacturing business. As of the end of 2015, the annual
capacity of our wafer facilities was 87 million pieces. To meet the prevailing market demands, we produce both standard and
high efficiency multi-crystalline wafers with dimensions of 156 millimeters x 156 millimeters and thickness of  190 microns.
Our high efficiency wafers are produced through an innovative casting manufacturing process.</P>

<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-indent: 0.25in">We also provide wafer Original Equipment
Manufacturer (OEM) service to external customers through tolling agreements by processing polysilicon to produce ingot and wafer.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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

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

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

<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-indent: 0.25in">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. The two other new technologies, the fluidized bed reactor process and the upgrading metallurgical
grade silicon process, 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We use the modified Siemens process to
produce polysilicon. The modified Siemens process includes three distinct steps: (1) TCS production; (2) distillation; and (3)
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: 0.25in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in"><IMG SRC="tpg38.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>TCS production</I></B>. 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: 0.25in">&nbsp;</P>

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

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

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

<P STYLE="font: italic 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">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 hydrochlorination 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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">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.</P>

<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-indent: 0.25in">We have successfully adopted in our Xinjiang
polysilicon manufacturing facilities 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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: italic bold 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">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. In November 2015, we launched a wafer technology enhancement
project at our Chongqing wafer facilities, which is expected to reduce our wafer manufacturing cost and increase our wafer capacity
with a limited capital expenditure requirement. We plan to upgrade our ingot furnaces from Generation 5 to Generation 6 directional
solidification casting furnaces and to increase our ingot output from approximately 500 kilograms per batch to approximately 800
kilograms per batch. In addition, we plan to increase our wafering capacity by improving efficiency of the existing wafering system
and acquiring certain used wafering tools from the secondary market. We expect to complete this project by the second quarter of
2016, which is expected to increase our annual wafer capacity from the current level of 87 million pieces to 100 million pieces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #1F497D">&nbsp;</P>

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: top; width: 25%; padding-bottom: 1pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.75pt; text-indent: -6.75pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.75pt; text-indent: -6.75pt">&nbsp;</P></TD>
    <TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 15%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Approximate<BR>
        Annual<BR>
        Production<BR>
        Capacity</B></P></TD>
    <TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Construction<BR>
        Period</B></P></TD>
    <TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 20%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commercial<BR>
        Production </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Period</B></P></TD>
    <TD NOWRAP STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 18%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fully<BR>
        Ramped-up<BR>
        Production</B></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt"><B>Polysilicon:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Phase 1A facilities<SUP>(1)(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,500 MT</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">June 2007 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">May 2008</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">July 2008 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">September 2012</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March </FONT><BR>
<FONT STYLE="font-size: 10pt">2009</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Phase 1B facilities<SUP>(1)(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,800 MT</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">May 2008 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">May 2009</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">December 2009 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">September 2012</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January </FONT><BR>
<FONT STYLE="font-size: 10pt">2010</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Capacity enhancement of </FONT><BR>
<FONT STYLE="font-size: 10pt">Phase 1 facilities<SUP>(1)(2)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,000 MT</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">December </FONT><BR>
<FONT STYLE="font-size: 10pt">2010</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">December 2010 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">September 2012</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">December </FONT><BR>
<FONT STYLE="font-size: 10pt">2010</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Phase 2A facilities<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">5,000 MT</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Second Quarter 2011 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">September&nbsp;&nbsp;2012</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">First Quarter 2013&ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">Present</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">March </FONT><BR>
<FONT STYLE="font-size: 10pt">2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Capacity enhancement of </FONT><BR>
<FONT STYLE="font-size: 10pt">Phase 2A facilities<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,150 MT</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">July 2013 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">January 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">January 2014 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">Present</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">First </FONT><BR>
<FONT STYLE="font-size: 10pt">Quarter 2014</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Phase 2B facilities<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">6,000 MT</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">April 2014 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">June 2015</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">July </FONT><BR>
<FONT STYLE="font-size: 10pt">2015 &ndash; Present</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Third </FONT><BR>
<FONT STYLE="font-size: 10pt">Quarter 2015</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Phase 3A facilities</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">5,850 MT</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">July 2015 &ndash; December 2016<SUP>(4)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">First</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Quarter 2017 <SUP>(4)</SUP></P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Second</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Quarter 2017<SUP>(4)</SUP></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt"><B>Wafer:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Phase 1A facilities<SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">35 million pieces</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">July 2010 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">February 2011</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">July 2011&ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">Present</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">November </FONT><BR>
<FONT STYLE="font-size: 10pt">2011</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Phase 1B facilities<SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">37 million pieces</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">February 2011 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">September 2011</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">May 2013 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">Present</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">November </FONT><BR>
<FONT STYLE="font-size: 10pt">2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 6.75pt; text-indent: -6.75pt"><FONT STYLE="font-size: 10pt">Capacity enhancement of </FONT><BR>
<FONT STYLE="font-size: 10pt">Phase 1 facilities</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <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">28 million pieces</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">November 2015 &ndash; </FONT><BR>
<FONT STYLE="font-size: 10pt">June 2016</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Second</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Quarter 2016 <SUP>(4)</SUP></P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Third</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Quarter 2016 <SUP>(4)</SUP></P></TD></TR>
</TABLE>


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


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

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

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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>(1)</SUP></TD><TD>The facilities are located in Chongqing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(2)</SUP></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(3)</SUP></TD><TD>The facilities are located in Xinjiang.</TD></TR></TABLE>

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

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>(4)</SUP></TD><TD>Estimated and may change subject to actual conditions.</TD></TR></TABLE>

<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; text-indent: 0.25in">Our annual polysilicon production capacity
reached 12,150 MT in 2015. We are in the process of further expanding the capacity of our Xinjiang facilities to 18,000 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 expect to fully ramp up capacity of the Phase 3A expansion by the end
of the second quarter of 2017. 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 Related
to Our Business &mdash; 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&rdquo;
and &ldquo;Item 3. Key Information &mdash; D. Risk Factors &mdash; Risks Related 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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Materials and Inputs Used in Production</P>

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

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

<P STYLE="font: italic 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: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: italic 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: 0.25in">Wafer manufacturing uses solar grade polysilicon
as the primary raw material and consumables such as crucibles, wires and slurry. We utilize our in-house high quality polysilicon,
as well as externally purchased polysilicon for high efficiency wafer production. We have established an in-house slurry recycling
system to ensure the quality of re-used slurry and cut slurry cost significantly.</P>

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


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

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

<P STYLE="font: italic 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: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: italic 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 both Chongqing and Xinjiang plants, which we believe
demonstrates our technological capabilities and inspires customer confidence. 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 2018 and will continue to apply for renewal of the certificate after its expiration. In 2014, Xinjiang
Science and Technology Commission issued a three-year certificate to recognize our polysilicon as a high and new technology product.
In addition, in 2014, both Chongqing Daqo and Xinjiang Daqo have been recognized for their compliance with the &ldquo;Photovoltaic
Manufacture Industry Standard&rdquo; issued by the Ministry of Industry and Information Technology of the PRC.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Customers and Sales</B></P>

<P STYLE="font: italic 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: 0.25in">We currently sell polysilicon and wafers
to China-based photovoltaic product manufacturers. Our major customers include operating entities of Jinko Solar, Jinneng Clean
Energy, Meike Silicon Energy, JA Solar, Eging PV and other companies. We sell a substantial portion of our photovoltaic products
to a limited number of customers. Our top three customers in aggregate accounted for 38.5%, 32.1% and 40.5% of our total revenues
in 2013, 2014 and 2015, respectively.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 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: 0.25in">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 197 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 2015, we completed 25 research and technology or process improvement projects to enhance our polysilicon and
wafer manufacturing processes, and successfully registered 14 patents with the State Intellectual Property Office of the PRC.</P>

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As of the date of this annual report, we
hold 39 patents and have 25 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: 0.25in">&nbsp;</P>

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

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">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 Chinese
domestic polysilicon and wafer manufacturers, such as GCL-Poly, Xinte Energy Co., Ltd., Asia Silicon Co., Ltd., China Silicon Corporation
and Yongxiang Co., Ltd., among others. In addition, some solar cell and module manufacturers might have 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. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>product quality;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>price and cost competitiveness;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>manufacturing technologies and efficiency;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>manufacturing reliability;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>economies of scale; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We believe we differentiate ourselves from
our competitors and capture market share in the polysilicon markets through our cost and price competitiveness, product quality,
and manufacturing technologies and efficiency.</P>

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Renewable Energy Law and Other Government Directives</B></P>

<P STYLE="font: italic 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: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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


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<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">On September 16, 2013, the Ministry of
Industry and Information Technology issued &ldquo;Regulatory Requirements For the Solar PV Manufacturing Industry&rdquo; and amended
the Regulatory Requirements on March 25, 2015. The amended Regulatory Requirements set forth 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 further promote the structural adjustment and the transformation
and upgrade of the PV industry, continue to strengthen industry supervision, and enhance the development of the industry. In January
2014, the National Energy 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In March 2015, the National Energy Administration
of China announced the PV installation target for 2015 to be 17.8GW. On December 24, NDRC announced that it would cut the solar
tariffs in Regions I-III to RMB 0.8/kWh, RMB 0.88/kWh and RMB 0.98/kWh from current RMB 0.9/kWh, RMB 0.95/kWh and RMB 1.0/kWh,
respectively, representing reductions of 2% to 11%, effective January 1, 2016. At the same time, China Renewable Energy Fund surcharge
fee increased from RMB 15/MWh to RMB 19/MWh.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;<B>Environmental and Safety
Regulations</B></P>

<P STYLE="font: italic 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: 0.25in">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: 0.25in">&nbsp;</P>


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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Foreign Currency Exchange</B></P>

<P STYLE="font: italic 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: 0.25in">Under various rules and regulations issued
by SAFE and other relevant PRC government authorities, the RMB is convertible for current account items, such as trade related
receipts and payments, interest and dividends. Capital account items, such as direct equity investments, loans and repatriation
of investment, require the prior approval from SAFE or its local counterpart for conversion of RMB into a foreign currency, such
as U.S. dollars, and remittance of the foreign currency outside the PRC.</P>

<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-indent: 0.25in">Payments for transactions that take place
within the PRC must be made in RMB. Unless otherwise approved, PRC companies must repatriate foreign currency payments received
from abroad. Foreign-invested enterprises may retain foreign exchange in accounts with designated foreign exchange banks subject
to a cap set by SAFE or its local counterpart. Unless otherwise approved, domestic enterprises must convert all of their foreign
currency receipts into RMB.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Admission of Foreign Investment</B></P>

<P STYLE="font: italic 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: 0.25in">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 2015 and became effective April 10, 2015, 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Foreign Exchange Registration of Offshore Investment
by PRC Residents</B></P>

<P STYLE="font: italic 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: 0.25in">Pursuant to SAFE Circular 75, issued in
October 2005, and a series of implementation rules and guidance, including the circular relating to operating procedures that came
into effect in July 2011, PRC residents, including PRC resident natural persons or PRC companies, must register with local branches
of SAFE in connection with their direct or indirect offshore investment in an overseas special purpose vehicle, for the purposes
of overseas equity financing activities, and to update such registration in the event of any significant changes with respect to
that offshore company. SAFE promulgated the Circular on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents&rsquo;
Offshore Investment and Financing and Roundtrip Investment through Special Purpose Vehicles, or SAFE Circular 37, on July 4, 2014,
which replaced the SAFE Circular 75. SAFE Circular 37 requires PRC residents to register with local branches of SAFE in connection
with their direct establishment or indirect control of an offshore entity, for the purpose of overseas investment and financing,
with such PRC residents&rsquo; legally owned assets or equity interests in domestic enterprises or offshore assets or interests,
referred to in SAFE No. Circular 37 as a &ldquo;special purpose vehicle.&rdquo; The term &ldquo;control&rdquo; under SAFE Circular
37 is broadly defined as the operation rights, beneficiary rights or decision-making rights acquired by the PRC residents in the
offshore special purpose vehicles or PRC companies by such means as acquisition, trust, proxy, voting rights, repurchase, convertible
bonds or other arrangements. SAFE Circular 37 further requires amendment to the registration in the event of any changes with respect
to the basic information of the special purpose vehicle, such as changes in a PRC resident individual shareholder, name or operation
period; or any significant changes with respect to the special purpose vehicle, such as increase or decrease of capital contributed
by PRC individuals, share transfer or exchange, merger, division or other material event. If the shareholders of the offshore holding
company who are PRC residents do not complete their registration with the local SAFE branches, the PRC subsidiaries may be prohibited
from distributing their profits and proceeds from any reduction in capital, share transfer or liquidation to the offshore company,
and the offshore company may be restricted in its ability to contribute additional capital to its PRC subsidiaries. Moreover, failure
to comply with SAFE registration and amendment requirements described above could result in liability under PRC law for evasion
of applicable foreign exchange restrictions. On February 28, 2015, SAFE promulgated a Notice on Further Simplifying and Improving
Foreign Exchange Administration Policy on Direct Investment, or SAFE Notice 13, which became effective on June 1, 2015. Pursuant
to SAFE Notice 13, entities and individuals are required to apply for foreign exchange registration of foreign direct investment
and overseas direct investment, including those required under the SAFE Circular 37, with qualified banks, instead of SAFE. The
qualified banks, under the supervision of SAFE, directly examine the applications and conduct the registration. The failure or
inability of our PRC resident shareholders to comply with the registration procedures may subject the PRC resident shareholders
to fines and legal sanctions, restrict our cross-border investment activities, or limit our PRC subsidiaries&rsquo; ability to
distribute dividends to or obtain foreign exchange-dominated loans from our company. See &ldquo;Item 3. Key Information &mdash;
D. Risk Factors &mdash; Risks Related 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: 0.25in"><B>&nbsp;</B></P>


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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Regulations on Employee Stock Options Plans</B></P>

<P STYLE="font: italic 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: 0.25in">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 the date
of this annual report.</P>

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

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

<P STYLE="font: italic 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: 0.25in">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: 0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">Organizational Structure</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<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-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;<IMG SRC="pg42newgraphic.jpg" ALT=""></P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 15%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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 0pt 0.25in; text-indent: -0.25in">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(1)</SUP></TD><TD>As of the date of this annual report, individual owners of Daqo Group beneficially hold equity interests in Daqo Cayman through
ten 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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(2)</SUP></TD><TD>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 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(3)</SUP></TD><TD>Indicates jurisdiction of incorporation</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(4)</SUP></TD><TD>Indicates companies within the listing group</TD></TR></TABLE>

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


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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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">D.</TD><TD STYLE="text-align: justify">Property, Plants and Equipment</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">We are headquartered in Wanzhou, Chongqing,
China, where we own several buildings with approximately 50,730 square meters of office and manufacturing space in total as
of December 31, 2015. 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 2A and Phase 2B production facilities in Xinjiang have approximately 155,495<FONT STYLE="color: blue"><U>
</U></FONT>square meters of office and manufacturing space in total as of December 31, 2015. On January 1, 2014, Chongqing Daqo
signed a five-year lease agreement with Daqo New Material for, among other things, office buildings and employee dormitories.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Environmental and Safety Matters</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: bold 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: 0.25in">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 Related 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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_008"></A>ITEM 4A. UNRESOLVED STAFF COMMENTS</P>

<P STYLE="font: bold 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: 0.25in">None.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_009"></A>ITEM 5. OPERATING AND FINANCIAL REVIEW
AND PROSPECTS</P>

<P STYLE="font: bold 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: 0.25in">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 31, 2013, 2014 and 2015 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: 0.25in">&nbsp;</P>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Operating Results</TD>
</TR></TABLE>

<P STYLE="font: bold 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; text-indent: 0in">Overview</P>

<P STYLE="font: bold 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: 0.25in">We are a leading polysilicon manufacturer
based in China with an annual production capacity of 12,150 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. As of the end of 2015, our wafer manufacturing
annual capacity was 87 million pieces. We had 100 MW 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 fully realized
capacity of 6,150 MT and lower production costs to the level of $14 per kg in the first quarter of 2014. We fully ramped up our
Phase 2B project to further increase the polysilicon production capacity in our Xinjiang facilities to 12,150 MT at the end of
the third quarter of 2015. We have also successfully upgraded our off-gas treatment process from traditional Hydrogenation technology
to Hydrochlorination technology. In 2015, we produced 9,771 MT polysilicon at an annually average production cost of $11.23/kg
(including depreciation). We are in the process of conducting our Phase 3A expansion project, which is expected to further increase
our polysilicon production capacity to 18,000 MT by the end of the second quarter of 2017.</P>

<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-indent: 0.25in">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, 2015, our major photovoltaic product customers included operating
entities of Jinko Solar, Jinneng Clean Energy, Meike Silicon Energy, JA Solar and Eging PV and other companies.</P>

<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-indent: 0.25in">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. Since 2014,
we have been running our wafer business in full capacity and improved the quality and efficiency for our wafer products. In May
2014, we established in-house slurry recovery system, which helps us to lower the wafer production cost. In November 2015, we launched
a wafer technology enhancement project at our Chongqing wafer facilities, which is expected to reduce our wafer manufacturing cost
and increase our wafer capacity with a limited capital expenditure requirement. We plan to upgrade our ingot furnaces from Generation
5 to Generation 6 directional solidification casting furnaces and to increase our ingot output from approximately 500 kilograms
per batch to approximately 800 kilograms per batch. In addition, we plan to increase our wafering capacity by improving efficiency
of the existing wafering system and acquiring certain used wafering tools from the secondary market. We expect to complete this
project by the second quarter of 2016, which is expected to increase our annual wafer capacity from the current level of 87 million
pieces to 100 million pieces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #1F497D">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 4,805 MT, 6,560 MT and
9,771 MT of polysilicon and sold 4,283 MT<SUP>(1)</SUP>, 5,972 MT<SUP>(1)</SUP> and 8,234 MT<SUP>(1)</SUP> in 2013, 2014 and 2015,
respectively. We generated revenues from continuing operations of $109.0 million, $182.6 million and $182.0 million in 2013, 2014
and 2015, respectively. We incurred net losses attributable to Daqo New Energy Corp. shareholders of $70.9 million in 2013 and
achieved net income attributable to Daqo New Energy Corp. shareholders of $16.6 million and $13.0 million in 2014 and 2015, respectively.</P>

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


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<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">Note:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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">(1)</TD><TD STYLE="text-align: left">The polysilicon sales volume here only refers to the external sales. The internal sales to our in-house wafer facilities were
770 MT, 671 MT and 1,316 MT in 2013, 2014 and 2015, respectively.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Key Factors Affecting Our Results of
Operations</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>product prices;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our product mix;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Demand for photovoltaic products</B></P>

<P STYLE="font: italic 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: 0.25in">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 the slowdown of the Chinese economy, 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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. Petroleum prices started to move downward in the second
half of 2014 through the whole year of 2015. If the decrease in petroleum prices continues, government incentives provided to the
solar industry in major markets may be reduced. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Global solar PV installations in 2015
totaled around 57 GW, representing a 26.7% increase from 45 GW in 2014. China, Japan and the United States are the three largest
solar PV markets globally in 2015. China installed 14.95 GW solar PV system in 2015, ranking No. 1 globally in terms of volume
for three consecutive years, with accumulative solar PV installation in China reaching 43 GW. In China&rsquo;s draft &ldquo;13th
Five-Year-Plan,&rdquo; the accumulative solar PV installation is expected to reach 150 GW, which means China will need to install
additional 107 GW in the five years from 2016 to 2020 in order to meet the target. In December 2015, the United States announced
a 5-year extension for Solar Investment Tax Credit (ITC), providing a 30 percent tax credit for solar systems on residential and
commercial properties. The extension will significantly support the deployment of solar energy in the United States in the next
five years. In addition, several emerging markets are experiencing rapid growth, including India, Southeast Asia, Latin America
and Africa. In particular, India&rsquo;s solar PV installations were reported to be approximately 2 GW in 2015, which makes it
the fifth largest solar PV market in the world. India's newly added solar PV installations are expected to be approximately 4.8
GW in 2016. According to several market forecast reports, the global solar PV installations in 2016 are expected to be in the
range of 62 to 65 GW.</P>

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


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

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

<P STYLE="font: italic 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: 0.25in">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. In 2014, the average selling prices for polysilicon fluctuated in the range approximately
from $20/kg to $22/kg. Our gross margin from continuing operations decreased from positive 37.6% in 2011 to negative 43.1% in 2012
and increased to negative 23.9% in 2013. In 2014, our gross margin from continuing operations improved to 23.7%. In 2015, our quarterly
average selling prices for polysilicon decreased by 23.4% from $18.09/kg in the first quarter to $13.86/kg in the fourth quarter
of 2015. Our average selling prices for wafers did not change significantly in 2015. In 2015, we achieved gross margin from continuing
operations of 20.6% primarily due to significant cost reduction in both of our polysilicon and wafer manufacturing.</P>

<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-indent: 0.25in">Since September 1, 2014, the Chinese government
has suspended the review of applications for importing solar grade polysilicon in the processing trade, according to an announcement
jointly made by Ministry of Commerce and General Administration of Customs, or GAC, of the PRC in August 2014. All existing agreements
approved prior to September 1, 2014 can continue to be performed until the contract terms expire. In addition, certain enterprises
in the processing trade business that have been included in the supervisory network of the GAC are allowed to continue to import
before the end of 2014. As a result, in the third and fourth quarters of 2014, foreign polysilicon manufacturers increased their
supply of polysilicon into China to take advantage of the grace period before the suspension fully kicked in and exerted pressure
on the average selling prices of polysilicon. In 2015, the volume of imported polysilicon was approximately 117,000 MT, increased
from approximately 102,000 MT in 2014. Although we did see the polysilicon import volume from the United States to decline after
the Chinese government&rsquo;s suspension policy took effect, the import volume from Germany and South Korea, the two largest countries
in terms of China&rsquo;s polysilicon import volume, has not been materially impacted due to a price commitment agreement between
Wacker (a polysilicon manufacturer in Germany) and the Chinese government, and low AD and CVD tariffs impose on major South Korean
polysilicon manufacturers.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Company&rsquo;s yearly polysilicon average selling prices
vs. average spot prices* (VAT excluded):</P>

<P STYLE="font: bold 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"><IMG SRC="tpg50.jpg" ALT="">&nbsp;</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: 0.25in">*</TD><TD>PV Insights spot prices are yearly averages based on PV Insights &ldquo;PV Poly Silicon Weekly Spot Price&rdquo; data.</TD></TR></TABLE>

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


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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: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Product mix</B></P>

<P STYLE="font: italic 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: 0.25in">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 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. In 2013, 2014 and 2015, we generated revenue from sales of polysilicon and wafers.
For the year ended December 31, 2015, the revenues we generated from our two segments included sales of polysilicon and wafers,
which accounted for 69.2% and 30.8% of our total revenues from continuing operations, respectively.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our production capacity and utilization</B></P>

<P STYLE="font: italic 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: 0.25in">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 our Xinjiang
polysilicon facilities is 12,150 MT. We are in the process of conducting our Phase 3A project to further increase the polysilicon
production capacity in our Xinjiang facilities to 18,000 MT, which is expected to be fully ramped up by the second quarter of 2017.</P>

<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-indent: 0.25in">For our wafer business, the Phase 1A wafer
manufacturing facilities in Chongqing commenced commercial production in July 2011 and reached the 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. In November 2015, we launched a wafer technology enhancement project at our
Chongqing wafer facilities, which is expected to reduce our wafer manufacturing cost and increase our wafer capacity with a limited
capital expenditure requirement. We plan to upgrade our ingot furnaces from Generation 5 to Generation 6 directional solidification
casting furnaces and to increase our ingot output from approximately 500 kilograms per batch to approximately 800 kilograms per
batch. In addition, we plan to increase our wafering capacity by improving efficiency of the existing wafering system and acquiring
certain used wafering tools from the secondary market. We expect to complete this project by the second quarter of 2016, which
is expected to increase our annual wafer capacity from the current level of 87 million pieces to 100 million pieces.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #1F497D">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our production costs</B></P>

<P STYLE="font: italic 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: 0.25in">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. We plan to implement additional measures to reduce our
production costs through technology, process and equipment improvement. For example, we fully ramped up our Phase 2B project at
the end of the third quarter of 2015, which has increased the polysilicon production capacity in our Xinjiang facilities to 12,150
MT. We have also successfully upgraded our off-gas treatment process from traditional Hydrogenation technology to Hydrochlorination
technology. As a result, we managed to reduce our production cost (including depreciation) and cash cost (excluding depreciation)
to $9.74/kg and $7.69/kg respectively in the fourth quarter of 2015, a significant reduction compared to $12.98/kg and $10.60/kg
as compared to the second quarter of 2015 before we started to ramp up the Phase 2B project. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Our wafer production costs consist primarily
of the costs of polysilicon, other raw materials, labor and depreciation.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicative polysilicon production cost breakdown:</P>

<P STYLE="font: bold 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"><IMG SRC="tpg52.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Components of Results of Operations</P>

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

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

<P STYLE="font: italic 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: 0.25in">Our revenues are primarily derived from
the sale of polysilicon and secondarily by the sale of wafers. In 2013, the revenues we generated from the product sales of polysilicon,
wafers and OEM services accounted for 70.4%, 25.6% and 4.0% of our total revenues, respectively. In 2014, the revenues we generated
from the product sales of polysilicon, wafers and OEM services accounted for 69.9%, 27.7% and 2.4% of our total revenues, respectively.
In 2015, the revenues we generated from the product sales of polysilicon, wafers and OEM services accounted for 69.2%, 27.5% and
3.3% of our total revenues, 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We commenced polysilicon production in
2008. We produced 4,805 MT, 6,560 MT and 9,771 MT of polysilicon and sold 4,823 MT<SUP>(1)</SUP>, 5,972 MT<SUP>(1)</SUP> and 8,234
MT<SUP>(1)</SUP> of polysilicon in 2013, 2014 and 2015, respectively. 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 23.3% in 2013 as compared to 2012, increased by 34.4% in 2014 as compared
to 2013, and decreased by 28.5% in 2015 as compared to 2014.</P>

<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-indent: 0.25in">We generated revenues of $109.0 million,
$182.6 million and $182.0 million in 2013, 2014 and 2015, respectively. We incurred net losses attributable to our shareholders
of $70.9 million in 2013 and achieved net income attributable to our shareholders of $16.7 million and $13.0 million in 2014 and
2015, respectively. In 2013, our revenues included $76.7 million generated from sales of polysilicon and $32.3 million generated
from sales of wafers. In 2014, our revenues included $127.7 million generated from sales of polysilicon and $54.9 million generated
from sales of wafers. In 2015, our revenues included $125.9 million generated from sales of polysilicon and $56.1 million generated
from sales of wafers.</P>

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


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<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-indent: 0.25in">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. 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. In 2014, our top three customers, Jiangsu Meike
Silicon Energy, JA Solar Technology Yangzhou Co., Ltd., and Jinko Solar Co., Ltd., accounted for approximately 13.1%, 10.0% and
9.0% of our total revenues, respectively, and the three customers in aggregate accounted for approximately 32.1% of our total revenues.
In 2015, our top three customers, Jinko Solar, Jinneng Clean Energy and Meike Silicon Energy, accounted for approximately 19.3%,
11.2% and 10.0% of our total revenues, respectively, and the three customers in aggregate accounted for approximately 40.5% of
our total revenues.</P>

<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 0pt 0.25in; text-indent: -0.25in">Note:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(1)</SUP></TD><TD STYLE="text-align: left">The polysilicon sales volume here only refers to the external sales. The internal sales to our in-house wafer facilities were
770 MT, 671 MT and 1,316 MT in 2013, 2014 and 2015, respectively.</TD></TR></TABLE>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cost of revenues</B></P>

<P STYLE="font: italic 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: 0.25in">Our cost of revenues primarily consists
of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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.</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-indent: 0.25in">Due to our capacity expansion, depreciation
in absolute terms had increased significantly prior to 2014. Depreciation in absolute terms has decreased significantly in 2014,
primarily as a result of our revision to the expected useful lives of fixed assets during the first quarter of 2014 and the deconsolidation
of our former variable interest entity as of December 30, 2013. Along with the full ramp-up of Phase 2B polysilicon expansion project
since August 2015, the depreciation in absolute terms increased significantly in 2015. Depreciation will resume its upward trend
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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Operating expenses/income</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Selling, general and administrative
expenses</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Research and development expenses</P>

<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-indent: 0.25in">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.
Our research and development expenses in 2013, 2014 and 2015 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: 0.25in">&nbsp;</P>


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Other operating income</P>

<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-indent: 0.25in">Our other operating income reflects unrestricted
government subsidies that we receive from time to time, including financial incentives from Chongqing and Xinjiang local government,
which are unrestricted as to use and can be utilized by us in any manner we deem appropriate. We have utilized, and expect to continue
to utilize, these subsidies to fund general operating expenses. We record unrestricted 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Fixed asset impairment loss</P>

<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-indent: 0.25in">We recognized $158.4 million impairment
loss for the long-lived assets of our polysilicon facilities in 2013. The impairment loss of long-lived assets of our polysilicon
facilities recognized in 2013 reflected the impact of year-on-year market challenges and in particular reductions in average selling
prices of our products in that year as described above, without similar reductions in costs of production, that have had an adverse
effect on the profit-generating ability of these assets. No impairment loss of long-lived assets was recognized in 2014. We recognized
an impairment loss of $1.6 million in 2015, which was related to certain identified relocation assets in Chongqing that were not
transferrable and could not be reutilized in our Xinjiang expansion project.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Interest income and expense</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 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 2015 for an additional
three years until November 2018 and the status can be renewed for additional three-year terms upon Chongqing Daqo&rsquo;s application
and the government&rsquo;s approval. In November 2014, Xinjiang Daqo, another wholly owned Chinese subsidiary, obtained &ldquo;High
and New Technology Enterprise&rdquo; certificate for a valid period of three years till 2016, 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: 0.25in">&nbsp;</P>

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


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<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

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

<P STYLE="font: bold 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: 0.25in">We prepare our consolidated financial statements
in accordance with U.S. GAAP, which requires us to make judgments, estimates and assumptions that affect (1) the reported amounts
of assets and liabilities, (2) disclosure of contingent assets and liabilities at the end of each reporting period, and (3) 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) our selection of critical accounting policies,
(2) the judgment and other uncertainties affecting the application of such policies, and (3) 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Property, plant and equipment</P>

<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-indent: 0.25in">We reassess the reasonableness of the estimates
of useful lives and residual values of long-lived assets when events or changes in circumstances indicate that the useful lives
and residual values of a major asset or a major category of assets may not be reasonable. Factors that we consider in deciding
when to perform an analysis of useful lives and residual values of long-lived assets include, but are not limited to, significant
variance of a business or product line in relation to expectations, significant deviation from industry or economic trends, and
significant changes or planned changes in the use of the assets. The analysis will be performed at the asset or asset category
with reference to the assets&rsquo; conditions, current technologies, market, and future plan of usage and the useful lives of
major competitors.</P>

<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-indent: 0.25in">In 2013, we made the decision to relocate
a majority of our polysilicon assets in Chongqing to Xinjiang. As part of the decision to make significant investment to relocate
the assets, we revisited the expectation as to the useful lives of these assets. Based on this review, we determined that the condition
of our major assets, having now been in operation for a meaningful percentage of the original estimated lives, were in a better
condition than the original useful life expectation had predicted. Accordingly, we engaged an independent valuation firm to assist
in reassessing the remaining economic useful life of the polysilicon assets in both Chongqing and Xinjiang. The analysis was completed
in the first quarter of 2014.</P>

<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-indent: 0.25in">Therefore, we revised the estimates of
expected useful lives of long-lived assets from January 1, 2014. The useful lives of machinery and equipment were expanded from
10 years to 15 years, while the useful lives of buildings and structures were expanded from 20 years to 30 years. No changes were
made to furniture, fixtures and equipment, or motor vehicles.</P>

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


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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Allowance for doubtful accounts</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Impairment of long-lived assets</P>

<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-indent: 0.25in">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 31, 2013, 2014 and 2015 were $158.4 million, nil and $1.6 million, respectively. 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. In 2013, we evaluated under ASC 360-10-35-21 whether there were events or
changes in circumstances which indicated that the carrying amount of our wafer asset group may not be recoverable. We concluded
that there existed the triggering event due to the continuing decrease of average selling prices in 2013, and performed the recoverability
test, with the estimate of future cash flows by using certain significant assumptions such as the estimated future selling prices
of wafer, production costs, and projected sales volumes. We estimated such significant assumptions with reference to the historical
records, industry analysis reports, current indications of customer demand and the management&rsquo;s experience. As a result,
we concluded the estimated sum of the undiscounted cash flows expected to result from the use and eventual disposition of the wafer
asset group substantially exceeded the carrying amount, and no impairment was noted as of December 31, 2013. In August 2014, our
board of directors approved the launch of an early stage research of the Phase 3 expansion in our Xinjiang polysilicon facilities.
After a comprehensive analysis of the capacity and comparability of the Chongqing machinery and equipment, we concluded that it
would be more efficient to use part of the machinery and equipment in Phase 3, rather than using all of them in Phase 2 project.
The change to the relocation plan indicated that the carrying amount of our polysilicon asset group may not be recoverable. We
performed the technology feasibility and economic viability research, and the recoverability test, with the estimate of future
cash flows by using certain significant assumptions, such as the estimated future selling prices of polysilicon, production costs
and projected sales volumes. We estimated such significant assumptions with reference to the historical records, industry analysis
reports, current indications of customer demand and management&rsquo;s experience. As a result, we concluded that the estimated
sum of the undiscounted cash flows expected to be generated from the use and eventual disposition of the polysilicon group were
in substantial excess of the carrying amount, and no impairment was noted as of December 31, 2014. The impairment loss of $1.6
million incurred in 2015 was related to certain identified relocation assets in Chongqing that were not transferrable and could
not be reutilized in our Xinjiang expansion project. Regarding the wafer asset group, there was no impairment indicator noted as
of December 31, 2014 and 2015.</P>

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


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Share-based compensation expenses</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">With respect to options granted on October
6, 2010, December 3, 2010, January 9, 2012, April 3, 2013, January 28, 2014, January 12, 2015 and July 6, 2015, 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">On January 12, 2015, we modified the exercise
price to $0.87 for a total number of 6,274,166 previously granted options, in order to provide appropriate incentives to certain
of our employees and executive officers. The fair value of the options under revised terms was $0.55 and $0.52. The total incremental
cost associated with the modification was $241,557, of which $60,107 was recognized immediately for the options vested prior to
the date of the modification and the remaining share-based compensation charges of $181,470 will be recognized over a weighted-average
period of 2.91 years.</P>

<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-indent: 0.25in">On September 9, 2015, we modified the exercise
price to $0.59 for a total number of 12,569,166 options for five batches granted on Jan 28, 2014, Jan 12, 2015 and July 06, 2015,
in order to provide appropriate incentives to certain of our employees and executive officers. The fair values of the options under
revised terms were $0.38, $0.35, $0.38, $0.37 and $0.40, respectively. The total incremental cost associated with the modification
was $282,581, of which $123,322 was recognized immediately for the options vested prior to the date of the modification and the
remaining share-based compensation charges of $159,259 will be recognized over a weighted-average period of 2.85 years.</P>

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&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 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">2013</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">2014</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">2015</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">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">US$</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">US$</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: 61%; padding-left: 9pt">Polysilicon</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</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">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">127,692,325</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">125,916,457</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Wafers</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">32,278,700</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">54,879,527</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">56,124,511</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></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total revenue</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">182,571,852</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">182,040,968</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">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">(135,103,408</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">(139,308,511</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">(144,491,083</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gross (loss) profit</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,263,341</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,549,885</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Selling, general and administrative expenses</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,293,851</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,603,824</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Research and development expenses</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,486,978</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(923,664</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Other operating income</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">552,444</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,824,881</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: 9pt">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">(158,424,827</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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,622,588</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">(174,527,577</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">(11,228,385</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">(11,325,195</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">(Loss) income from operations</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,034,956</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,224,690</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Interest expense</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15,654,106</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,173,958</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Interest income</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">324,118</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">493,995</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Exchange (loss) gain</TD><TD STYLE="padding-bottom: 1pt">&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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(55,792</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">640,678</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">(Loss) income before income taxes</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,649,176</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,185,405</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">(1,271,765</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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,137,821</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">Net (loss) 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">(221,090,508</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">16,649,176</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">13,047,584</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net (loss) income 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">(150,147,024</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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">90,695</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; text-indent: -9pt; padding-left: 9pt">Net (loss) income attributable to Daqo New Energy Corp.&rsquo;s shareholders</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(70,943,484</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">16,649,176</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">12,956,889</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Year Ended December 31, 2015 Compared
to Year Ended December 31, 2014</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Total revenues</I>. </B>Our total
revenues decreased by 0.3% from $182.6 million in 2014 to $182.0 million in 2015.</P>

<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-indent: 0.25in"><B><I>Revenue from product sales of polysilicon.
</I></B>The revenue derived from product sales of polysilicon was $125.9 million in 2015, decreased by 1.4% from $127.7 million
in 2014. The polysilicon sold in 2014 and 2015 was mostly contributed by our Xinjiang facilities. During the third quarter of 2015,
we successfully ramped up our Phase 2B expansion project which increased our annual capacity from 6,150 MT to 12,150 MT. As a result,
our polysilicon production volume increased 48.9% from 6,560 MT in 2014 to 9,771 MT in 2015. Accordingly, our external polysilicon
sales volume increased 37.9% from 5,972 MT in 2014 to 8,234 MT in 2015. Nevertheless, the improvement in external sales volume
was offset by the decrease of our annual polysilicon average selling prices which decreased 28.5% from $21.37/kg in 2014 to $15.29/kg
in 2015.</P>

<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-indent: 0.25in"><B><I>Revenue from product sales of wafers
and OEM services.</I></B> The revenue derived from the sales of wafers and OEM services increased by 2.3% from $54.9 million in
2014 to $56.1 million in 2015, Wafer sales volume was 76.4 million pieces in 2015, compared to 71.4 million pieces in 2014. The
increase in wafer revenues as compared to 2014 was primarily due to higher sales volume.</P>

<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-indent: 0.25in"><B><I>Total Cost of revenues</I>.</B> Our
cost of revenues increased by 3.7% from $139.3 million in 2014 to $144.5 million in 2015.</P>

<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-indent: 0.25in"><B><I>Cost of revenue from product sales
of polysilicon</I>.</B> The cost of revenue from product sales of polysilicon was $97.7 million in 2015. Although our polysilicon
external sales volume increased by 37.9% from 5,972 MT in 2014 to 8,234 MT in 2015. Our cost of revenue from product sales of polysilicon
only increased by 6.9% compared to $91.4 million in 2014 due to our cost reduction effort, benefiting from the success of our Phase
2B expansion and technology improvement project in our Xinjiang facilities.</P>

<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-indent: 0.25in"><B><I>Cost of revenue from product sales
of wafers and OEM services</I>.</B> The cost of revenue from product sales of wafers and OEM services decreased by 2.3% from $47.9
million in 2014 to $46.8 million in 2015. The decrease was primarily due to lower unit production cost partially offset by higher
sales volume in 2015 as compared to 2014.</P>

<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-indent: 0.25in"><B><I>Gross profit</I>.</B> We had a gross
profit of $37.6 million in 2015, decreased by 13.2% from $43.3 million in 2014. The decrease was primarily due to lower gross profit
from product sales of polysilicon offset by higher gross profit from product sales of wafers and OEM services.</P>

<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-indent: 0.25in"><B><I>Gross profit from product sales of
polysilicon</I>.</B> Our polysilicon business had a gross profit of $28.2 million in 2015, decreased by 22.2% from $36.2 million
in 2014. In 2015, we successfully reduced our annual polysilicon total production cost by 17.9% from $13.68/kg in 2014 to $11.23/kg
in 2015 and increased our polysilicon external sales volume by 37.9% from 5,972 MT in 2014 to 8,234 MT in 2015. Nevertheless, due
to lower polysilicon ASPs, which decreased by 28.5% from $21.37/kg in 2014 to $15.29/kg in 2015, our gross profit still decreased
in 2015 as compared to 2014.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Gross profit from product sales of
wafers and OEM services</I>.</B> Our wafer business had a gross profit of $9.4 million in 2015, increased by 34.3% from $7.0 million
in 2014. We sold 76.4 million pieces of wafers in 2015, an increase of 7.9% from 70.8 million pieces in 2014. The improvement in
gross profit from wafers and OEM services was primarily due to improved cost structures, as well as higher sales volume.</P>

<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-indent: 0.25in"><B><I>Selling, general and administrative
expenses</I>.</B> Our selling, general and administrative expenses were $12.6 million in 2015, compared to $10.3 million in 2014.
The increase in selling, general and administrative expenses was primarily due to increased shipping cost, as a result of higher
polysilicon shipping volume and less reversal of bad debt expense.</P>

<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-indent: 0.25in"><B><I>Research and development expenses.</I></B>
Our research and development expenses were $0.9 million in 2015, decreased from $1.5 million in 2014. The research and development
expenses in 2015 and 2014 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Fixed asset impairment loss</I>.</B>
In the fourth quarter of 2015, we recognized an impairment charge of $1.6 million attributable to certain identified remaining
assets in Chongqing that were not transferrable and could not be reutilized in our Xinjiang expansion project. In 2014, no long-lived
assets impairment loss was recognized.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Other operating income. </I></B>Other
operating income was $3.8 million in 2015, increased from $0.6 million in 2014, which mainly consisted of unrestricted cash incentives
that we received from local government authorities, which varies from period to period at the discretion of the applicable local
government authorities.</P>

<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-indent: 0.25in"><B><I>Net Interest expense</I>.</B> Our
net interest expenses were $12.0 million in 2015, decreased from $15.4 million in 2014. The decrease was primarily due to a decrease
in short-term bank borrowing balance combined with a decreased average borrowing interest rate.</P>

<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-indent: 0.25in"><B><I>Income tax expense</I>.</B>
Income tax expenses were $1.1 million in 2015, compared to nil in 2014. In 2014, we didn&rsquo;t pay income tax, because
there were still deferred tax assets which could be used to deduct income tax. Nevertheless, in 2015 one of our local
entities started to pay income tax with the recovery of accumulated loss.</P>

<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-indent: 0.25in"><B><I>Net income attributable to our shareholders</I>.</B>
As a result of the factors described above, we had net profit attributable to our shareholders of $13.0 million in 2015, decreased
from $16.6 million in 2014.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Year Ended December 31, 2014 Compared
to Year Ended December 31, 2013 for Continuing Operations</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Total revenues</I>. </B>Our total
revenues increased by 67.5% from $109.0 million in 2013 to $182.6 million in 2014. The increase in total revenues was primarily
attributable to higher sales volumes, as well as higher average selling prices in both polysilicon and wafers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Revenue from product sales of polysilicon</I>.
</B>The revenue derived from product sales of polysilicon increased from $76.7 million in 2013 to $127.7 million in 2014. The improvement
of revenue of $51.0 million was primarily contributed by the impact of higher sales volumes and higher selling prices of $29.2
million and $20.8 million,<SUP>(1)</SUP> respectively. The polysilicon sold in 2013 and 2014 was mostly contributed by our Xinjiang
facilities. We ramped up the production capacity of 5,000 MT at Phase 2A facilities in Xinjiang in March 2013 and further increased
our production capacity to 6,150 MT in the first quarter of 2014. As a result of the upgrade of the manufacturing process and improvement
in our production efficiency at our Xinjiang facilities, our actual polysilicon production reached 1,748 MT during the third quarter
of 2014, exceeding our 6,150 MT nameplate capacity by 9.0%. Accordingly, our production volume increased by 36.5% in 2014, as compared
to 2013. Our average selling price for polysilicon in 2014 was higher than 2013, increased by 34.4%.</P>

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



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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><I></I>Note:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(1)</SUP></TD><TD>The impact on revenue from polysilicon attributable to the higher sales volume is calculated based on the assumption that the
average selling price remains the same as last year.</TD></TR></TABLE>

<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; text-indent: 0.25in"><B><I>Revenue from product sales of wafers
and OEM services</I>.</B> The revenue derived from the sales of wafers increased from $32.3 million in 2013 to $54.9 million in
2014, primarily due to higher sales volume as a result of the capacity fully ramped up from 36 million pieces to 72 million pieces
in November 2013. Our wafer utilization rate also improved significantly in 2014 compared to 2013.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Total Cost of revenues</I>.</B> Our
cost of revenues increased by 3.1% from $135.1 million in 2013 to $139.3 million in 2014.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Cost of revenue from product sales
of polysilicon</I>.</B> The cost of our polysilicon revenue was $91.4 million in 2014. Although our polysilicon production volume
increased by 36.5% in 2014 compared to 2013, our cost of polysilicon just increased by 7.0% compared to $85.5 million in 2013 due
to our cost reduction effort in our Xinjiang facilities, as well as to the decrease in depreciation expenses of $23.9 million attributable
to the revision to the expected useful lives of fixed assets in the amount of $18.7 million and the deconsolidation of our former
variable interest entity in the amount of $5.2 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Cost of revenue from product sales
of wafers and OEM services</I>.</B> The cost of our wafers revenue and OEM services decreased by 3.5% from $49.6 million in 2013
to $47.9 million in 2014. The decrease was primarily due to lower unit production cost partially offsetting by higher production
volume in 2014. In November 2013, we fully ramped up our wafer facilities to a capacity of 72 million pieces per annum. Our wafer
production volume increased by 2 times in 2014 compared to 2013.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Gross (loss) profit</I>.</B> We had
a gross profit of $43.3 million in 2014, compared to loss of $26.1 million in 2013. Our gross margin was 23.7% in 2014, compared
to negative 23.9% in 2013. The improvement in gross profit and gross margin from 2013 was primarily due to improved cost structures
in polysilicon, as well as higher average selling prices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Gross (loss) profit from product
sales of polysilicon</I>.</B> Our polysilicon business had a gross profit of $36.2 million in 2014, compared to loss of $8.8 million
in 2013. Our polysilicon business&rsquo;s gross margin was 28.4% in 2014, compared to negative 11.5% in 2013. The improvement in
gross profit and gross margin from 2013 was primarily due to improved cost structures, as well as higher average selling prices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Gross (loss) profit from product
sales of wafers and OEM services</I>.</B> Our wafer business and OEM services had a gross profit of $7.0 million in 2014, compared
to loss of $17.3 million in 2013. Gross margin of our wafer business and OEM services was 12.7% in 2014, compared to negative 53.7%
in 2013. The improvement in gross profit and gross margin from 2013 was primarily due to improved cost structures, as well as higher
average selling prices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Selling, general and administrative
expenses</I>.</B> Our selling, general and administrative expenses were $10.3 million in 2014, compared to $18.1 million in 2013.
The decrease in selling, general and administrative expenses was primarily due to reversal of provisions for bad debts in 2014
with the settlement of long aging receivables.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Research and development expenses</I>.</B>
Our research and development expenses decreased from $3.4 million in 2013 to $1.5 million in 2014, and decreased as a percentage
of total revenues from 3.1% in 2013 to 0.8% in 2014. The research and development expenses in 2014 and 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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Fixed asset impairment loss</I>.</B>
We 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. No such loss was recognized in 2014.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Other operating income</I>.</B> Other
operating income decreased from $5.4 million in 2013 to $0.6 million in 2014, 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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Interest expense and income</I>.</B>
Our net interest expenses decreased from $19.2 million in 2013 to $15.4 million in 2014. The decrease from 2013 was primarily due
to a decrease in bank borrowing balance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Income tax expense</I>.</B> We did
not have any income tax expense in 2014, compared to income tax expenses of $1.3 million in 2013. The income tax expense in 2013
was mainly due to the change in valuation allowance of deferred tax assets from prior years. In consideration of the uncertainties
in the solar market, we determined that it was more likely than not that our deferred tax assets would not be utilized before they
expire, and full valuation allowance was accrued as of December 31, 2014.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Net (loss) income attributable to
our shareholders</I>.</B> As a result of the factors described above, we had net profit attributable to our shareholders of $16.7
million in 2014, compared to net loss attributable to our shareholders of $70.9 million for 2013.</P>

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

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

<P STYLE="font: bold 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: 0.25in">In January 2015, the FASB issued a new
pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. This ASU required that an entity separately classify,
present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and
usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event
or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from
the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing
operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data
applicable to the extraordinary item. This ASU will also align more closely U.S. GAAP income statement presentation guidance with
IAS 1, Presentation of Financial Statements, which prohibits the presentation and disclosure of extraordinary items. The amendments
in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A
reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all
prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the
beginning of the fiscal year of adoption. We have already considered the impact on our consolidated financial statements as of
December 31, 2015.</P>

<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-indent: 0.25in">In July 2015, the FASB issued a new pronouncement
Inventory (Topic 330): Simplifying the Measurement of Inventory. The current guidance requires an entity to measure inventory at
the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately
normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory
method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO)
or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value
is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal,
and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. For public
business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within
those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an
interim or annual reporting period. We are in the process of evaluating the impact on our consolidated financial statements upon
adoption.</P>

<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-indent: 0.25in">In November 2015, the FASB issued a new
pronouncement which changes how deferred taxes are classified on organizations&rsquo; balance sheets. The ASU eliminates the current
requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance
sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The amendments
apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial
statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier
application is permitted for all entities as of the beginning of an interim or annual reporting period. We are in the process of
evaluating the impact on our consolidated financial statements upon adoption.</P>

<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-indent: 0.25in">In January 2016, the FASB issued a new
pronouncement which is intended to improve the recognition and measurement of financial instruments. The ASU affects public and
private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities.</P>

<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-indent: 0.25in">The new guidance makes targeted improvements
to existing U.S. GAAP by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation
of the investee) to be measured at fair value with changes in fair value recognized in net income;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for
disclosure purposes;</TD></TR></TABLE>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial
asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations
that are not public business entities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate
the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the
fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as &ldquo;own credit&rdquo;)
when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial
instruments.</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-indent: 0.25in">The new guidance is effective for public
companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance
permits early adoption of the own credit provision. We are in the process of evaluating the impact on our consolidated financial
statements upon adoption.</P>

<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-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">On March 30, 2016, the FASB issued&nbsp;ASU
2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic
entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification
in the statement of cash flows. The new guidance, which is part of the Board&rsquo;s simplification initiative,&nbsp;also contains
two practical expedients under which nonpublic entities can use the simplified method&nbsp;to estimate the expected term of an
award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified
awardswhich nonpublic entities can use the simplified method&nbsp;to estimate the expected term of an award and make a one-time
election to switch from fair value measurement to intrinsic value measurement for liability-classified awards.</P>

<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-indent: 0.25in">In the period of adoption, entities are
required to disclose:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The nature of and reason for the changes in accounting principle; 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" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Any cumulative effects of the changes on retained earnings or other components of equity as of the date of adoption.</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: 0.25in">In addition, because the change in presentation
in the statement of cash flows related to excess tax benefits can be applied either prospectively or retrospectively, entities
are required to disclose either (1) &ldquo;that prior periods have not been adjusted&rdquo; if the change is applied prospectively
or (2) the &ldquo;effect of the change on prior periods retrospectively adjusted&rdquo; if the change is applied retrospectively.
For the change in presentation in the statement of cash flows related to statutory tax withholding requirements, entities are required
to disclose the &ldquo;effect of the change on prior periods retrospectively adjusted.</P>

<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-indent: 0.25in">For public business entities, the ASU
is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual
reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not
yet been issued or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that
apply must be adopted in the same period. In addition, if early adoption is elected in an interim period, any adjustments
should be reflected as of the beginning of the annual period that includes that interim period. We are in the process of
evaluating the impact on its consolidated financial statements upon adoption.</P>

<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-indent: 0.25in"></P>

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

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

<P STYLE="font: bold 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: 0.25in">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 2013, 2014 and 2015 were increases of 2.5%, 1.5% and 1.6%, 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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Liquidity and Capital Resources</TD>
</TR></TABLE>

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

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

<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-indent: 0.25in">Our liquidity situation improved in 2015
as compared to 2014 and 2013. Overall, our cash and cash equivalents balance increased by $1.2 million and decreased by $0.8 million
in 2013 and 2014, respectively, and increased by $7.4 million in 2015. Net cash provided in operating activities was $45.6 million
and $66.4 million in 2014 and 2015, respectively, compared to net cash used in operating activities of $16.5 million in 2013. Net
cash used in investing activities was $30.7 million, $90.6 million and $74.1 million in 2013, 2014 and 2015, respectively. Net
cash provided by financing activities was $48.8&nbsp;million, $44.3 million and $15.2 million in 2013, 2014 and 2015, respectively.</P>

<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-indent: 0.25in">As of December 31, 2015, 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 2016 and beyond.</P>

<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-indent: 0.25in">The following significant developments
in 2015 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: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>During the year ended December 31, 2015, we experienced positive cash flow from operations of $66.4&nbsp;million. We believe
we will continue to generate positive operating cash flow in 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>For the year ended December 31, 2015, we generated an operating income of $26.2 million. We believe that we will continue to
generate positive operating income in 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The quarterly average selling prices of polysilicon decreased by 23.4% from the first quarter to the fourth quarter of 2015.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>As of December 31, 2015, our current liabilities exceeded our current assets by $186.6 million. Amounts due to related parties
of $46.4 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, 2017. While we had cash
and cash equivalents of $14.5 million as of December 31, 2015, we had short-term bank borrowings (including current portion of
our long-term debt) of $123.9 million all due within one year. The current portion of our long-term debt amounted to $51.6 million,
such long-term debt being restricted to purchases of fixed assets and not expected to be renewed.</TD></TR></TABLE>



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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We completed the construction of our Phase 2B project in June 2015, which expanded our nameplate capacity from 6,150 MT to
12,150 MT per annum. In addition to the equipment which is being relocated from the Phase 1 polysilicon facilities to Xinjiang
facilities, the total capital expenditure for our Phase 2B project that had been spent was $149.7 million. During 2015, we had
incurred expenses of $1.3 million in connection with relocation costs related to the machinery and equipment from Chongqing that
has been installed at our phase 2B facilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We have started the process of conducting our Phase 3A expansion project since July 2015, which is expected to expand our nameplate
capacity from 12,150 further to 18,000 MT per annum. The construction of the Phase 3A project is expected to be completed by the
end of 2016, and the full capacity is expected to be ramped up by the second quarter of 2017. The expected total capital expenditure
for our Phase 3A expansion is approximately $94.7 million, of which $1.7 million had been spent as of December 31, 2015.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>In June 2015, we obtained approval from Chongqing Rural Commercial Bank for RMB825 million (US$127.4 million) loans, which
included a six-year term project finance loan of RMB625 million (US$96.5 million) and a one-year operating loan facility of RMB200
million (US$30.9 million). As of December 31, 2015, Xinjiang Daqo had drawn down RMB625 million (US96.2 million) and had no facility
available for future draw down.</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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We generated net income and positive cash flow from operations for two consecutive years.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We performed a review of our cash flow forecasts for the twelve month period ending December 31, 2016, and believe that our
operating cash flow will be positive during the twelve month period ending December 31, 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>We have been taking a number of cost reduction initiatives, including the new hydrochlorination system, technology improvement
and polysilicon capacity expansion in Xinjiang.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>On February 22, 2016, we obtained a letter of financial support from Daqo Group, which has committed to provide sufficient
financial support to us to ensure that we have the funds required to satisfy our obligations as they come due during the twelve
months ending December 31, 2016. Further, the support letter provides that Daqo Group will not require us to repay the amount owed
to the Daqo Group and subsidiaries of Daqo Group before January 1, 2017, which amount totaled $46.4 million as of December 31,
2015.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>As of December 31, 2015, we have available bank accepted note facilities of $22.6 million. While there can be no
                                                                                                               assurance that we will be able to refinance our short-term bank borrowings as they become due, historically, we have
                                                                                                               renewed or rolled over most of our short term bank loans upon the maturity of the loans and believe that we will continue to
                                                                                                               be able to do so.</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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Cash Flows and Working Capital</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>


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<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; 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><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">2014</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">2015</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">US$</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">US$</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">US$</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center">(US$ in thousands)</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left">Net cash (used in) provided by operating activities</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(16,526</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">45,619</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">66,425</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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">(30,696</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(90,589</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(74,132</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net cash provided by financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,827</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,272</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,242</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">Effect of exchange rate changes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(453</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">(65</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">(114</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net increase (decrease) in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,152</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(763</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,421</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash and cash equivalents at the beginning of the year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,679</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,831</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,068</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cash and cash equivalents at the end of the year</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,831</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">7,068</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">14,490</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">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: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Interest paid</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,658</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,770</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,285</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">Income taxes paid</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">2,727</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="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: White">
    <TD STYLE="text-align: left; text-indent: -13.5pt; padding-left: 22.5pt">Purchases of property, plant and equipment included in accounts payable and notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,767</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,990</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,523</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -13.5pt; padding-left: 22.5pt">Purchases of property, plant and equipment included in amount due to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">940</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,651</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">263</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Our cash and cash equivalents increased
by $1.2 million in 2013, decreased by $0.8 million in 2014 and increased by $7.4 million in 2015. As of December 31, 2015, we had
$19.1 million in restricted cash and $14.5 million in cash and cash equivalents. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As of December 31, 2015, we had a working
capital deficit (total current assets less total current liabilities) of $186.6 million. We had cash, cash equivalents and restricted
cash of $33.6 million and short-term and long-term liabilities of $123.9 million and $118.5 million, respectively, as of December
31, 2015. In addition, we have a total capital commitment of $15.5 million. Although, as of December 31, 2015, Daqo Group and its
subsidiaries provided financial support of $46.4 million to us in the form of interest-free loans, there is substantial doubt as
to our ability to continue as a going concern. As such, Daqo Group and its affiliates have indicated that they will not require
us to repay our debt to them before January 1, 2017. In addition, as of December 31, 2015, we have unused committed and available
bank accepted notes facilities of $13.4 million (RMB87 million) and $9.2 million (RMB60 million) from Industrial and Commercial
Bank of China and Xinjiang Shihezi Rural Bank, respectively.</P>

<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-indent: 0.25in">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 2016. See &ldquo;Item 3. Key Information &mdash; D. Risk Factors &mdash; Risks Related to Doing
Business in China &mdash; We had a significant working capital deficit as of December 31, 2015. Daqo Group provides financial support
to us to meet certain of our working capital requirements and obligations as they become 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: 0.25in">&nbsp;</P>

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

<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-indent: 0.25in">Net cash provided by operating activities
for the year ended December 31, 2015 was $66.4 million, primarily resulting from $210.0 million of cash we received from the sale
of our products, our payments for raw materials and utilities of $101.8 million, taxes paid of $7.5 million, employee salaries
and welfare payments of $21.0&nbsp;million and interest expense payments of $13.3 million. We generated positive operating cash
flow in 2015. The improvement was primarily due to the expansion in our polysilicon manufacturing capacity 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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">Net cash provided by operating activities
for the year ended December 31, 2014 was $45.6 million, primarily resulting from $141.2 million of cash we received from the sale
of our products, our payments for raw materials and utilities of $60.4 million, taxes paid of $3.1 million, employee salaries and
welfare payments of $17.5 million and interest expense payments of $17.8 million. We generated positive operating cash flow in
2014. 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Net cash used in operating activities for
the year ended December 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 $19.7 million.</P>

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

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

<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-indent: 0.25in">Net cash used in investing activities for
the year ended December 31, 2015 was $74.1 million, primarily resulting from payments for the purchase of property, plant and equipment
in a total amount of $81.3 million offset by the increase of restricted cash of $15.7 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.</P>

<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-indent: 0.25in">Net cash used in investing activities for
the year ended December 31, 2014 was $90.6 million, primarily resulting from payments for the purchase of property, plant and equipment
in a total amount of $77.0 million combined with the increase of restricted cash of $13.6 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 2014, net cash used in investing activities increased significantly from 2012 and 2013, which
was primarily related to capital expenditure of Phase 2B project at our Xinjiang polysilicon facilities.</P>

<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-indent: 0.25in">Net cash used in investing activities for
the year ended December 31, 2013 was $30.7 million. Net cash used in investing activities for the year ended December 31, 2013
primarily resulted from payments for the purchase of property, plant and equipment in a total amount of $32.5 million combined
with a 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 notes in support of our purchases of property, plant and equipment.</P>

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

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

<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-indent: 0.25in">Net cash provided by financing activities
for the year ended December 31, 2015 was $15.2 million, primarily resulting from cash received from related parties in the amount
of $246.0 million offset by the repayment of amounts due to related parties in the amount of $276.6 million, proceeds received
from the bank borrowings and other borrowings in the amount of $237.0 million offset by the repayment of bank borrowing in the
amount of $220.6 million, and net proceeds from a follow-on publish offering of our ADSs in February 2015 in the amount of $28.7
million.</P>

<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-indent: 0.25in">Net cash provided by financing
activities for the year ended December 31, 2014 was $44.3 million, primarily resulting from cash received from related
parties in the amount of $275.1 million offset by the repayment of amounts due to related parties in the amount of $275.1
million, proceeds received from the bank borrowings and other borrowings in the amount of $176.1 million offset by the
repayment of bank borrowing in the amount of $186.6 million, and net proceeds from a follow-on publish offering of our ADSs
in May 2014 in the amount of $54.6 million. In 2014, net cash provided by financing activities decreased by $4.5 million compared to 2013. The decrease was primarily due to the decrease in financial support we received from Daqo Group and its affiliates in 2014, partially offset by the proceeds from the follow-on public offering of our ADSs in May 2014.</P>

<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-indent: 0.25in">Net cash provided by financing activities
for the year ended December 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.</P>

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

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

<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-indent: 0.25in">We incurred capital expenditures of $32.5
million for the construction of our polysilicon, wafer and module production facilities and purchase of polysilicon, wafer and
module production equipment in 2013. In 2014 and 2015, we made capital expenditures of $68.6 million and $42.7 million for the
Phase 2B project and technology improvements at our polysilicon facilities in Xinjiang. In 2015, we also made capital expenditures
of $1.7 million for the Phase 3A expansion project.</P>

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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We are in the process of relocating certain
machinery and equipment from our facilities in Chongqing to our Xinjiang facilities, which has reduced the capital expenditure
requirements for our Phase 2B project. However, we have decided to utilize approximately 40% of our current machinery and equipment
previously planned to be used for Phase 2B, as measured by its book value as of December 31, 2014, as certain machinery and equipment
can be more efficiently and cost-effectively used in our future expansions. As a result, we acquired additional new machinery and
equipment for Phase 2B. The total cash requirement for Phase 2B was $149.7 million. The remaining Chongqing machinery and equipment
that we do not utilize in our Phase 2B will be used in the Phase 3A expansion, which is expected to be fully ramp up by the second
quarter of 2017.</P>

<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-indent: 0.25in">Our capital expenditures will increase
in the future. We expect that the total capital expenditures of the Phase 3A expansion is approximately $94.7 million, of which
$1.7 million had been spent as of December 31, 2015. We expect that completion of our expansion projects 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.&nbsp;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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">Research and Development, Patents and Licenses, Etc.</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">D.</TD><TD STYLE="text-align: justify">Trend Information</TD>
</TR></TABLE>

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

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

<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-indent: 0.25in">Global solar PV installations in
2015 totaled around 57 GW, representing a 26.7% increase from 45 GW in 2014. China, Japan and the United States are the
three largest solar PV markets globally in 2015. China installed 14.95 GW solar PV system in 2015, ranking No. 1 globally in
terms of volume for three consecutive years, with accumulative solar PV installation in China reaching 43 GW. In
China&rsquo;s draft &ldquo;13th Five-Year-Plan,&rdquo; the accumulative solar PV installation is expected to reach 150 GW,
which means China will need to install additional 107 GW in the five years from 2016 to 2020 in order to meet the target. In
December 2015, the United States announced a 5-year extension for Solar Investment Tax Credit (ITC), providing a 30 percent
tax credit for solar systems on residential and commercial properties. The extension will significantly support the
deployment of solar energy in the United States in the next five years. In addition, several emerging markets are
experiencing rapid growth, including India, Southeast Asia, Latin America and Africa. In particular, India&rsquo;s newly
added solar PV installations were reported to be approximately 2 GW in 2015, which makes it the fifth largest solar PV market
in the world. India&rsquo;s solar PV installations are expected to be approximately 4.8 GW in 2016. According to several market
forecast reports, the global solar PV installations in 2016 are expected to be in the range of 62 to 65 GW. </P>

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

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

<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-indent: 0.25in">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 6,150 MT. We fully ramped up capacity of our Phase 2B expansion project and expanded the production capacity
at our Xinjiang polysilicon facilities to 12,150 MT. We have also successfully upgraded our off-gas treatment process from traditional
Hydrogenation technology to Hydrochlorination technology. As a result, we lowered our production cost of polysilicon (including
depreciation) and cash cost (excluding depreciation) to $9.74/kg and $7.69/kg, respectively, in the fourth quarter of 2015. We
are now in the process of conducting the Phase 3A capacity expansion at our Xinjiang facilities, which is expected to increase
our nameplate capacity further to 18,000 MT by the second quarter of 2017 and further reduce our production cost for polysilicon.
In addition, we are considering further capacity expansion at our Xinjiang facilities in the medium term, or the Phase 3B expansion.
Subject to market and industry conditions, we expect our Phase 3B expansion to further increase our total polysilicon production
capacity to 25,000 MT.</P>

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


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<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-indent: 0.25in">In 2013, we gradually increased the utilization
rate of our wafer facilities and successfully expanded the capacity to 72 million pieces in November 2013. Since 2014, we have
been running our wafer business in full capacity and improved the quality and efficiency for our wafer products. In May 2014, we
established in-house slurry recovery system, which helps us to lower the wafer production cost. In November 2015, we launched a
wafer technology enhancement project at our Chongqing wafer facilities, which is expected to further reduce our manufacturing cost
and increase annual wafer production capacity 100 million pieces per year by the second quarter of 2016. As of the end of 2015,
our wafer capacity was 87 million pieces per year.<I> </I>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 2015 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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">E.</TD><TD STYLE="text-align: justify">Off Balance Sheet Commitments and Arrangements</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">We have not entered into any financial
guarantees or other commitments to guarantee the payment obligations of third parties as of December 31, 2015. 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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">F.</TD><TD STYLE="text-align: justify">Tabular Disclosure of Contractual Obligations</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">The following table sets forth our contractual
obligations and commercial commitments as of December 31, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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="18" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Payments due by Period</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">Total</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">Less Than<BR>
1 Year</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">1-3<BR>
Years</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">3-5<BR> Years</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">More Than<BR> 5 Years</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="18" STYLE="font-weight: bold; text-align: center">(in thousands)</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Contractual obligations:</TD><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: White">
    <TD STYLE="width: 35%; padding-left: 9pt">Long-term debt<SUP>(1)(2)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">170,125</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">51,576</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">90,836</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">27,713</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">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Interest payment on long-term debt<SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.666</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,930</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,161</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,575</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-left: 9pt">Capital commitments<SUP>(4)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,471</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,471</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></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 9pt">Operating lease obligations<SUP>(5)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,051</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,051</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></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Total obligations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">196,313</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,028</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,288</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 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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(1)</SUP></TD><TD>Excludes interest payments.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(2)</SUP></TD><TD>As of December 31, 2015, long-term bank loans including the current portion in the amount of $170.1 million were guaranteed
by Daqo Group, one director of the Company, Daqo New Material and four other companies affiliated with Daqo Group. In addition,
Chongqing Daqo&rsquo;s land use right and plant of $8.1 million and Xinjiang Daqo&rsquo;s machinery and equipment of $73.9 million
were collateralized for the long-term bank loans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(3)</SUP></TD><TD>Variable interest payments are determined by weighed average long term interest rate 5.68%.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(4)</SUP></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(5)</SUP></TD><TD>Represents Chongqing Daqo&rsquo;s obligation under the lease agreement with Daqo New Material until January 2016.</TD></TR></TABLE>

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


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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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">G.</TD><TD STYLE="text-align: justify">Safe Harbor</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">This annual report on Form 20-F contains
forward-looking statements. These statements are made under the &ldquo;safe harbor&rdquo; provisions of Section 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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_010"></A>ITEM 6. DIRECTORS, SENIOR MANAGEMENT
AND EMPLOYEES</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Directors and Executive Officers</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&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: 25%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name</B></P></TD>
    <TD STYLE="width: 1%">
</TD>
    <TD STYLE="width: 15%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><B>Age</B></P></TD>
    <TD STYLE="width: 1%">
</TD>
    <TD STYLE="width: 58%">
        <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">
    <TD>Guangfu Xu</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">73</TD>
    <TD>&nbsp;</TD>
    <TD>Chairman of the board of directors</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Xiang Xu</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">45</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dafeng Shi</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">44</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Gongda Yao</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">57</TD>
    <TD>&nbsp;</TD>
    <TD>Director and chief executive officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Fumin Zhuo</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">64</TD>
    <TD>&nbsp;</TD>
    <TD>Independent director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Rongling Chen</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">73</TD>
    <TD>&nbsp;</TD>
    <TD>Independent director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Minsong Liang</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">47</TD>
    <TD>&nbsp;</TD>
    <TD>Independent director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Shuming Zhao</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">63</TD>
    <TD>&nbsp;</TD>
    <TD>Independent director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Arthur Wong</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">56</TD>
    <TD>&nbsp;</TD>
    <TD>Independent director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Ming Yang</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">42</TD>
    <TD>&nbsp;</TD>
    <TD>Chief financial officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Qiangmin Zhou</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">48</TD>
    <TD>&nbsp;</TD>
    <TD>Chief technology officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Shihua Su</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">41</TD>
    <TD>&nbsp;</TD>
    <TD>Chief marketing officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Guangfu Xu</I> is the chairman of
our board of directors. Mr. Xu is principally responsible for formulating our strategic development objectives. Mr. 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. 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. 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. Xu was named a National Township and Village Entrepreneur by the Ministry of Agriculture of China
in 2001 and 2002. Mr. Xu graduated from secondary school in 1960.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Xiang Xu</I> is one of our directors.
Mr. 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. Xu served as the general
manager of Jiangsu Changjiang Electric Co., Ltd., a subsidiary of Daqo Group, from January 2000 through May 2006. Mr. Xu received
his EMBA degree from Nanjing University in 2004. Mr. Xiang Xu is the son of Mr. Guangfu Xu.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Dafeng Shi</I> is one of our directors.
Mr. 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. 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. Shi
served as the vice president of Yangzhong Tianyuan Accounting Firm from 2000 to 2001. Mr. 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 &amp; Economics in 1992. Mr. Shi received his master degree of professional accountancy from
The Chinese University of Hong Kong. Mr. Shi is a Certified Public Accountant in China.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Dr. Gongda Yao</I> is one of our directors
and chief executive officer. Dr. Yao has served as our director and chief executive officer since August 2009. Dr. Yao has extensive
experience in the electronic development and manufacturing industry. Prior to joining our company, Dr. Yao served as the vice president
and China general manager for Applied Materials from October 2006 to July 2008. Dr. 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. Yao worked for Applied Materials at various management
positions for 11 years. Dr. Yao received his Ph.D. in materials science &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.
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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Fumin Zhuo</I> is one of our independent
directors. Mr. Zhuo has served as our director since November 2009. He currently also serves as an independent director of three
Hong Kong Stock Exchange-listed companies, including Shenwan Hongyuan (H.K.) Limited, SRE Group Ltd. and Sinopharm Group Co. Ltd.,
and of two Shanghai Stock Exchange-listed companies including China Enterprise Company Limited, East China Architecture Group Ltd.,
and of Hedy Holding Co. Ltd., a Shenzhen Stock Exchange-listed company. Mr. Zhuo has also served as non-executive director to Besunyen
Holdings Company Limited, a company listed on the Hong Kong Stock Exchange. Mr. Zhuo has over two decades experience in investment
and corporate management. Mr. 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.
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. Zhuo was the chief executive officer of Shanghai Industrial
Holding Ltd. and the chairman of SIIC Medical Science &amp; Technology (Group). Prior to that, starting in 1987 Mr. Zhuo served
as chief assistant officer of the Shanghai Economic System Reform Committee. Mr. Zhuo has extensive experience in venture capital
fund formation, mergers and acquisitions, and investment management. Mr. 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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Rongling Chen</I> is one of our
independent directors. Mr. Chen has served as our director since October 2010. He has served as Senior Advisor for ASM China since
May 2015. He has also served as an independent director to Tianjin Zhonghuan Semiconductor Co., Ltd., a company listed on Shenzhen
Stock Exchange. Between 2010 and 2012 Mr. Chen was a vice president of Applied Materials and chief administration officer of Applied
Materials China. Mr. 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. 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. 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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Dr. Minsong Liang</I> is one of our
independent directors. Dr. Liang has served as our director since October 2011. Dr. Liang is currently a co-managing partner of
CLA Partners, a boutique investment banking firm in China. Dr. 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 &amp; Investment Co., Ltd.,
a financial services company in China. Prior to joining CLA Partners, Dr. Liang has held various management positions at China
Securities Regulatory Commission and State-owned Assets Management Commission of Yunnan Province. Dr. 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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Shuming Zhao</I> is one of our independent
directors. Mr. Zhao has served as our director since October 2011. Mr. Zhao is dean of the Nanjing University School of Business.
In addition, Mr. 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. Zhao serves as
independent directors to Jiangsu Little Swan Ltd. in China and MFC Industrial Ltd., a NYSE-listed Canadian company. Mr. 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: 0.25in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. 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 currently serves as an independent director and Chairman of the Audit Committee of three
NASDAQ-listed companies, including China Automotive Systems, Inc., YOU On Demand Holdings, Inc. and Sky Solar Holdings, Ltd., and
of two Hong Kong Stock Exchange-listed companies, including Maple Leaf Educational Systems Limited and Petro-King Oilfield Services
Limited. He also serves as an independent director of Xueda Education Group, a company listed on the New York Stock Exchange. 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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Ming Yang </I>is our chief financial
officer. Mr. Yang has served as our chief financial officer since July 2015. Prior to joining us, Mr. Yang served as a management
consultant at McKinsey &amp; Company since May 2012, where he specialized in the cleantech and solar sectors and focused on such
areas as corporate strategy, market strategy, performance management, and risk management. Prior to McKinsey &amp; Company, Mr.
Yang was vice president of business development and corporate communications at JA Solar Holdings Co., Ltd., a leading manufacturer
of solar products based in China from 2009 to 2012, where he was responsible for corporate strategy, business development, strategic
partnerships and investor relations. Prior to JA Solar, Mr. Yang was an analyst covering the renewable energy sector at Coatue
Management, a multi-billion dollar hedge fund based in New York in 2008. From 2004 to 2007, Mr. Yang served as vice president and
senior China analyst at Piper Jaffray, where he was a core member of the global cleantech team and covered the solar energy and
semiconductor materials sectors. Mr. Yang holds an MBA degree from Cornell University and a bachelor&rsquo;s degree in electrical
engineering and computer science from the University of California, Berkeley.</P>

<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-indent: 0.25in"><I>Mr. Qiangmin Zhou</I> is our chief technology
officer. First joining us in 2007, Mr. Qiangmin Zhou served as the General Manager of the polysilicon business group until April
2013, when he resigned from us for personal reasons. Mr. Zhou rejoined us in June 2014 and served as the Chief Operations Officer
until March 1, 2016. Mr. Zhou has over 25 years of experience in chemical and materials industry. Mr. Zhou holds a bachelor&rsquo;s
degree from Tianjin University of Science and Technology and an MBA degree from Chongqing University.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><I>Mr. Shihua Su</I> is our chief marketing
officer. Mr. Su was formerly our interim financial officer from May 2015 to July 2015 and served as the general manager of our
Xinjiang polysilicon manufacturing facilities from October 2012 to April 2015. He holds a master degree from Jiangsu University
of Industrial Project Finance Management.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Composition of Board of Directors</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Compensation</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">In 2015, our aggregate payments of cash
to directors or executive officers was approximately $1.2 million. In 2015, our directors and executive officers received options
under our share incentive plan. See &ldquo;&mdash; Share Incentive Plans.&rdquo; Our PRC subsidiaries 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 $6.8 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, 2015. 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: 0.25in">&nbsp;</P>


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

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

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">2009 Share Incentive Plan</P>

<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-indent: 0.25in">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. 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: 0.25in">&nbsp;</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><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)
impair the rights of any participant unless agreed by the participant and the plan administrator or (ii) 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: 0.25in"><I>&nbsp;</I></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">2014 Share Incentive Plan</P>

<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-indent: 0.25in">In December 2014, our shareholders adopted
the 2014 share incentive plan, or the 2014 Plan, at our annual general meeting of the shareholders. Our shareholders have authorized
the issuance of up to 21,000,000 ordinary shares underlying all options (including incentive share options, or ISOs), restricted
shares and restricted share units granted to a participant under the plan, or the awards.</P>

<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-indent: 0.25in">The following paragraphs summarize the
terms of our 2014 Plan.</P>

<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-indent: 0.25in"><B><I>Plan Administration</I>. </B>Our
board of directors, or a committee designated by our board of 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. Any grant or amendment of awards
to any committee member requires an affirmative vote of a majority of the board members who are not on the committee.</P>

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


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<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-indent: 0.25in"><B><I>Award Agreement</I>. </B>Awards granted
under our 2014 Plan are evidenced by an award agreement that sets forth the terms, conditions and limitations for each award which
may include the term of an award, the provisions applicable in the event the participant&rsquo;s employment or service terminates,
and our authority to unilaterally or bilaterally amend, modify, suspend, cancel or rescind an award.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Eligibility</I>. </B>We may grant
awards to our employees, consultants, members of our board of directors and other individuals as determined, authorized and approved
by the board of directors or the committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Acceleration of Awards upon Corporate
Transactions</I>. </B>The outstanding awards will accelerate upon occurrence of a change-of-control corporate transaction in which
the successor entity does not assume our outstanding awards under our 2014 Plan, provided that the plan participant remains an
employee, consultant or member of our board of directors on the effective date of the corporate transaction. In such event, each
outstanding award will become fully exercisable and all forfeiture restrictions on such award will lapse immediately prior to the
specified effective date of the corporate transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">If the successor entity assumes our outstanding
awards and later terminates the grantee&rsquo;s employment or service without cause, the outstanding awards automatically will
become fully vested and exercisable. The compensation committee may also, in its sole discretion, upon or in anticipation of a
corporate transaction, accelerate awards, purchase the awards from the plan participants, replace the awards, or provide for the
payment of the awards in cash.</P>

<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-indent: 0.25in"><B><I>Exercise Price and Term of Options
Other than ISOs</I>. </B>Our board of directors, or a committee designated by our board of directors, will determine, amend or
adjust the exercise price of options other than the ISOs, and determine the time or times at which, and the conditions to be satisfied
before, such options may be exercised in whole or in part. Subject to any future amendment or modification to the plan, the term
of any option other than an ISO granted under the 2014 Plan may not exceed ten years, subject to any amendment or modification
of the plan.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Exercise Price and Term of ISOs</I>.
</B>The exercise price per share of an ISO shall be equal to the fair market value on the date of grant. If, however, we grant
an ISO to an individual, who, at the time of that grant, owns shares representing more than 10% of the voting power of all classes
of our share capital, the exercise price cannot be less than 110% of the fair market value of our ordinary shares on the date of
grant. The board or the committee will determine the time or times at which an ISO may be exercised in whole or in part, including
exercise prior to vesting. The term may not exceed the earlier of ten years from the date of the grant, three months after a participant&rsquo;s
termination of employment as an employee, or one year after the date of a participant&rsquo;s termination of employment or service
on account of death or disability, except that five years is the maximum term of an ISO granted to an employee who holds more than
10% of the voting power of our share capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Restricted Shares and Restricted
Share Unites</I>. </B>The board or the committee is also authorized to make awards of restricted shares and restricted share units.
Except as otherwise determined by the board or the committee at the time of the grant of an award or thereafter, upon termination
of employment or service during the applicable restriction period, restricted shares that are at the time subject to restrictions
shall be forfeited or repurchased in accordance with the respective award agreements. At the time of grant for restricted share
units, the board or the committee shall specify the date on which the restricted share units shall become fully vested and nonforfeitable,
and may specify such conditions to vesting as it deems appropriate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><B><I>Amendment and Termination</I>. </B>The
board or the committee may at any time amend, suspend or terminate our 2014 Plan. Amendments to our 2014 Plan are subject to shareholder
approval, to the extent required by law, or by stock exchange rules or regulations. Unless terminated earlier, our 2014 Plan shall
continue in effect for a term of ten years from the date of adoption.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As of March 15, 2016, excluding the expired
and cancelled options, we have granted options to purchase a total of 19,183,785 of our ordinary shares among which 17,367,760
are outstanding under the 2009 Plan and the 2014 Plan.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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 STYLE="border-bottom: Black 1pt solid"><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"><B>Name</B></P></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">Ordinary Shares <BR>
Underlying<BR>
 Option Awarded</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">Exercise Price <BR>
($/Share)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of Grant</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of Expiration</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 38%; text-align: left">Directors and officers as a group</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">3,400,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.25</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 17%; text-align: right">October 31, 2009</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 17%; text-align: right">October 30, 2019</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">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">October 6, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">October 5, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">925,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">December 3, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">December 2, 2020</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">1,050,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 9, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 8, 2022</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">140,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">April 3, 2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">April 2, 2023</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">4,654,166</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 28, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 27, 2024</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,185,625</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 12, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 11, 2025</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">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 6, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">July 5, 2025</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Other individuals as a group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,950,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">October 31, 2009</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">October 30, 2019</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">70,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">October 6, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">October 5, 2020</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,265,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">December 3, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">December 2, 2020</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">140,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 9, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 8, 2022</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,530,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 28, 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 27, 2014</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">948,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 12, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">January 11, 2025</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,398,541</TD><TD STYLE="text-align: left">*</TD><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>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<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>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 30%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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>The number of total options awarded includes options that were exercised or terminated, if any.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">Board Practices</TD>
</TR></TABLE>

<P STYLE="font: bold 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; text-indent: 0in">Code of Business Conduct and Ethics</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>declaring dividends and distributions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: bold 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; text-indent: 0in">Terms of Directors and Executive Officers</P>

<P STYLE="font: bold 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: 0.25in">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) becomes bankrupt or makes any arrangement or
composition with his creditors; or (2) dies or becomes of unsound mind.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Committees of the Board of Directors</P>

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

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

<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-indent: 0.25in">Our audit committee consists of Mr. Arthur
Wong, Mr. Rongling Chen and Dr. Minsong Liang, and is chaired by Mr. Wong. All of our audit committee members satisfy the &ldquo;independence&rdquo;
requirements of Section&nbsp;303A of the Corporate Governance Rules of the NYSE and meet the independence standards under Rule
10A-3 under the Securities Exchange Act of 1934, as amended. We have determined that Mr. 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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 404 of Regulation S-K under the Securities
Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">In 2015, our audit committee held meetings
or passed resolutions by unanimous written consent nine times.</P>

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

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

<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-indent: 0.25in">Our compensation committee consists of
Mr. Fumin Zhuo, Mr. Arthur Wong and Mr. Rongling Chen, and is chaired by Mr. Zhuo. All of our compensation committee members satisfy
the &ldquo;independence&rdquo; requirements of Section 303A of the Corporate Governance Rules of the NYSE. 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In 2015, our compensation committee held
meetings or passed resolutions by unanimous written consent once.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Corporate Governance and Nominating
Committee</P>

<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-indent: 0.25in">Our corporate governance and nominating
committee consists of Mr. Shuming Zhao, Mr. Arthur Wong and Mr. Rongling Chen, and is chaired by Mr. Zhao. All of our corporate
governance and nominating committee members satisfy the &ldquo;independence&rdquo; requirements of Section 303A of the Corporate
Governance Rules of the NYSE. 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">In 2015, our corporate governance and nominating
committee held meetings or passed resolutions by unanimous written consent once.</P>

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 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: 0.25in">There is no shareholding qualification
for directors.</P>

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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) assume employment with or provide services as
a director for any of our competitors who operate in a restricted area; (2) solicit or seek any business orders from our customers;
or (3) 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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">D.</TD><TD STYLE="text-align: justify">Employees</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">As of December 31, 2015, we employed 1,624
employees, including 1,055 in manufacturing, 122 in equipment maintenance, 97 in quality assurance, 17 in purchasing, 197 in research
and development, 9 in sales and marketing and 127 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, 2015, we employed approximately 51 temporary personnel through third-party contractors.</P>

<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-indent: 0.25in">We had a total of 1,330, 1,408 and 1,624
employees as of December 31, 2013, 2014 and 2015, respectively.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">E.</TD><TD STYLE="text-align: justify">Share Ownership</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The calculations in the table below are
based on 260,836,578 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: 0.25in">&nbsp;</P>

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

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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">Ordinary Shares Beneficially Owned</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">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></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Directors and Executive Officers:</TD><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: 74%">Guangfu Xu<SUP>(1)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">42,125,000</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">16.0</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Xiang Xu<SUP>(2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,977,692</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Dafeng Shi<SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,966,251</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.7</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Fumin Zhuo<SUP>(4)</SUP></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: White">
    <TD>Gongda Yao<SUP>(5)</SUP></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(204,238,255)">
    <TD>Rongling Chen<SUP>(6)</SUP></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: White">
    <TD>Minsong Liang<SUP>(7)</SUP></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(204,238,255)">
    <TD>Shuming Zhao<SUP>(8)</SUP></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: White">
    <TD>Arthur Wong<SUP>(9)</SUP></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(204,238,255)">
    <TD>Ming Yang<SUP>(10)</SUP></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: White">
    <TD>Qiangmin Zhou<SUP>(11)</SUP></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(204,238,255)">
    <TD>Shihua Su<SUP>(12)</SUP></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: White">
    <TD STYLE="text-align: left">All directors and executive officers as a group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95,290,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35.1</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: White">
    <TD STYLE="font-weight: bold; text-align: left">Principal Shareholders:</TD><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(204,238,255)">
    <TD STYLE="text-align: left">Gold Intellect Limited<SUP>(13)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.8</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Duke Elite Limited<SUP>(14)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,641,025</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.8</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>FIL Limited<SUP>(15)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,027,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.3</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Quentec Asset Management, LLC<SUP>(16)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,232,175</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.2</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Plenty China Limited<SUP>(17)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,820,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.6</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<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>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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">*</TD><TD>Beneficially owns less than 1% of our ordinary shares.</TD></TR></TABLE>

<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">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(1)</SUP></TD><TD>Consists of 39,000,000 shares held by Gold Intellect Limited, a British Virgin Islands company wholly owned and controlled
by Mr. Guangfu Xu, and 1,600,000 shares issuable upon exercise of options held by Mr. Xu that are exercisable within 60 days of
the date of this annual report. Mr. Guangfu Xu&rsquo;s business address is c/o No. 11, Daquan Road, Xinba, Yangzhong, Jiangsu Province,
PRC. Mr. Guangfu Xu is the chairman of the board of directors of our company and he is the father of Mr. Xiang Xu.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(2)</SUP></TD><TD>Consists of (i) 1,025,641 ADSs, representing 25,641,025 Ordinary Shares, beneficially owned by Duke Elite Limited, a British
Virgin Islands company wholly owned and controlled by Mr. Xiang Xu, (ii)&nbsp;14,820,000 shares held by Plenty China Limited, a
British Virgin Islands company wholly owned and controlled by Mr. Xiang Xu, and (iii) 1,083,333 shares issuable upon exercise of
options held by Mr. Xu that are exercisable within 60 days of the date of this annual report. Mr. Xiang Xu&rsquo;s business address
is c/o No. 11, Daquan Road, Xinba, Yangzhong, Jiangsu Province, PRC. Mr. Xiang Xu is a director of our company and he is the son
of Mr. Guangfu Xu.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(3)</SUP></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 1,083,333 shares issuable upon exercise of options held by Mr. Shi that are exercisable within 60 days of
the date of this annual report. Mr. Dafeng Shi&rsquo;s business address is c/o No. 11, Daquan Road, Xinba, Yangzhong, Jiangsu Province,
PRC. Mr. Shi is a director of our company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(4)</SUP></TD><TD>The business address of Mr. Zhuo is Unit 3501, Two IFC, 8 Century Avenue, Pudong District, Shanghai, China.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(5)</SUP></TD><TD>The business address for Mr. Yao is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(6)</SUP></TD><TD>The business address of Mr. Chen is No.585, Jianguoxi Road, Shanghai, PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(7)</SUP></TD><TD>The business address of Mr. Liang is Room 806, Tower C, Vantone Center, No. 6 Chaoyangmenwai Street, Chaoyang District, Beijing,
PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(8)</SUP></TD><TD>The business address of Mr. Zhao is 2002 Anzhong Building, School of Business, Nanjing University, 16 Jinyin Jie, Nanjing,
PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(9)</SUP></TD><TD>The business address of Mr. Wong is Room 906, 16th Floor, Huamao Building, No. 89 Jianguo Road, Chaoyang District, Beijing,
PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(10)</SUP></TD><TD>The business address of Mr. Yang is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(11)</SUP></TD><TD>The business address of Mr. Zhou is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(12)</SUP></TD><TD>The business address of Mr. Su is No.666, Longdu Avenue, Wanzhou District, Chongqing City, PRC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(13)</SUP></TD><TD>Gold Intellect Limited is a company incorporated in the British Virgin Islands wholly owned by Mr. Guangfu Xu. Its principal
office is at c/o 11 Daquan Road, Xinba, Yangzheng, Jiangsu Province, PRC. Mr. 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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(14)</SUP></TD><TD>Duke Elite Limited is a company incorporated in the British Virgin Islands wholly owned by Mr. Xiang Xu. Its principal office
is at c/o 11 Daquan Road, Xinba, Yangzheng, Jiangsu Province, PRC. Mr. Xiang Xu has the sole voting and dispositive power over
the shares of our company represented by ADSs held by Duke Elite Limited.</TD></TR></TABLE>

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


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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>

<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"><SUP>(15)</SUP></TD><TD>Based on Amendment No. 2 to the Schedule 13G filed on February 12, 2016. Consists of (i) 8,997,500 Ordinary Shares represented
by ADSs held by Fidelity Funds &ndash; PACIFIC and (ii) 9,542,500 Ordinary Shares represented by ADSs held by Fidelity China Special
Sits PLC. The business address of FIL Limited is Pembroke Hall, 42 Crow Lane, Hamilton, Bermuda, HM19.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(16)</SUP></TD><TD>Based on the Schedule 13G filed with the SEC on February 16, 2016. The business address of Quentec Asset Management, LLC is
575 Lexington Avenue, 31st Floor, New York, NY 10022, United States of America.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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"><SUP>(17)</SUP></TD><TD>Plenty China Limited is a company incorporated in the British Virgin Islands wholly owned by Mr. Xiang Xu. Its principal office
is at c/o 11 Daquan Road, Xinba, Yangzheng, Jiangsu Province, PRC. Mr. 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="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; text-indent: 0.25in">As of the date of this annual report, 260,836,578
of our ordinary shares were issued and outstanding. To our knowledge, 135,195,490 ordinary shares, representing approximately 51.8%
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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_011"></A>ITEM 7. MAJOR SHAREHOLDERS AND RELATED
PARTY TRANSACTIONS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Major Shareholders</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Related Party Transactions</TD>
</TR></TABLE>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transactions with
Daqo Group</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In 2014, the Company received an interest
free loan of $10,821,462 from Daqo Group, of which $8,115,813 was repaid during the same year. In addition, the Company purchased
fixed assets totaling $486,948 from Daqo Group and had $1,339,128 due to Daqo Group as of December 31, 2014.</P>

<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-indent: 0.25in">In 2015, the Company received interest
free loans of $15,043,550 million from Daqo Group and repaid $20,217,257 million during the same year.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transactions with
Zhenjiang Daqo</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In 2014, the Company sold $6,534,133 in
wafers and $3,020,187 in polysilicon to Zhenjiang Daqo.</P>

<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-indent: 0.25in">In 2015, the Company sold $2,885,057 in
wafers and $8,226,182 in polysilicon to Zhenjiang Daqo.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transactions with
Daqo Solar</P>

<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-indent: 0.25in">In 2013, the Company received interest
free loans of $76,881,392 from Daqo Solar and repaid $28,379,678 during the same year.</P>

<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-indent: 0.25in">In 2014, the Company received interest
free loans of $157,241,390 from Daqo Solar and repaid $166,231,092 during the same year. Further, the Company sold $9,595,680 in
wafer to Daqo Solar.</P>

<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-indent: 0.25in">In 2015, the Company received interest
free loans of $127,060,826 from Daqo Solar and repaid $151,990,672 during the same year. Further, the Company sold $783,705 in
wafer to Daqo Solar.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transactions with
Xinjiang Daqo Investment</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">In 2014, the Company received interest
free loans of $98,367,234 from Xinjiang Daqo Investment and repaid $93,219,846 during the same year.</P>

<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-indent: 0.25in">In 2015, the Company received interest
free loans of $72,946,700 from Xinjiang Daqo Investment and repaid $73,252,506 during the same year. In August 2015, the board
of directors and the audit committee of the Company approved the restructuring plan of Xinjiang Daqo in order for it to meet certain
PRC legal requirement for listing on the National Equities Exchange and Quotations in China. Pursuant to the restructuring plan,
Xinjiang Daqo Investment subscribed for newly issued equity interest of Xinjiang Daqo representing 1% of the total outstanding
equity of Xinjiang Daqo, which restructuring was completed in December 2015.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transactions with
Nanjing Daqo</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In 2014, the Company received interest
free loans of $973,898 from Nanjing Daqo and repaid $2,921,693 during the same year. In addition, the Company also sold $112 polysilicon
to Nanjing Daqo.</P>

<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-indent: 0.25in">In 2015, the Company received interest
free loans of $13,456,861 from Nanjing Daqo and repaid $13,456,861 during the same year.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transactions with
Daqo New Material</P>

<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-indent: 0.25in">Daqo New Material was a variable interest
entity of Chongqing Daqo, and the Company deconsolidated Daqo New Material on December 31, 2013.</P>

<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-indent: 0.25in">In 2014, the Company received interest
free loans of $7,729,501 from Daqo New Material and repaid $4,600,117 during the same year. In addition, the Company recorded $1,071,287
rental expense in 2014 under the lease agreement with Daqo New Material.</P>

<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-indent: 0.25in">In 2015, the Company received interest
free loans of $11,082,241 from Daqo New Material and repaid $11,285,114 during the same year. In addition, the Company recorded
$1,050,661 rental expenses in 2015 under the lease agreement with Daqo New Material.</P>

<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-indent: 0in"><B><I>Related party transactions with Chongqing
Daqo Tailai</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Chongqing Daqo Tailai Electric Co., Ltd.,
or Chongqing Daqo Tailai, is a company that is wholly owned by Daqo Group.</P>

<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-indent: 0.25in">In 2014, the Company purchased equipment
at the cost of $2,724,790 from Chongqing Daqo Tailai.</P>

<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-indent: 0.25in">In 2015, the Company purchased fixed asset
and raw material in the amount of $375,528 and $9,938, respectively, from Chongqing Daqo Tailai. During the same year, the Company
received interest free loans in the amount of $6,367,640 from Chongqing Daqo Tailai and repaid $6,367,640. The Company sold fixed
assets of $6,458 to Chongqing Daqo Tailai during the same year.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transactions with
other subsidiaries of Daqo Group</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In 2014, the Company purchased equipment
from other subsidiaries of Daqo Group at the cost of $3,989,686 and received interest free loans of $636 during the same year.</P>

<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-indent: 0.25in">In 2015, the Company purchased fixed asset
and raw material in the amount of $3,488,330 and $22,817, respectively, from other subsidiaries of Daqo Group and repaid interest
free loans of $5,295 during the same year.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Related party transaction with
Duke Elite Limited</P>

<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-indent: 0.25in">In February 2015, Duke Elite Limited, a
British Virgin Islands company wholly owned and controlled by Mr. Xiang Xu, a director of ours and president of Daqo Group, purchased
1,025,641 ADSs, representing 25,641,025 ordinary shares, in an underwritten follow-on offering of the ADSs of the Company, at the
same price, $19.50 per ADS, and on the same terms as the other ADSs offered in the offering.</P>

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


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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 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: 0.25in">See &ldquo;Item 6. Directors, Senior Management
and Employees &mdash; B. Compensation &mdash; Share Incentive Plans&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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">Interests of Experts and Counsel</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_012"></A>ITEM 8. FINANCIAL INFORMATION</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Consolidated Statements and Other Financial Information</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">See &ldquo;Item 18. Financial Statements.&rdquo;</P>

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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Significant Changes</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_013"></A>ITEM 9. THE OFFER AND LISTING</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Offering and Listing Details</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Our ADSs, each representing 25 ordinary
shares, have been listed on the NYSE since October 7, 2010 and trade under the symbol &ldquo;DQ.&rdquo; Prior to December 21, 2012,
each of our ADS represented five ordinary shares. We effected a change of the ADS to ordinary share ratio on December 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 NYSE for the periods
indicated. For ease of comparison, the ADS prices before December 21, 2012 have been retroactively adjusted to reflect the ADS
to ordinary share ratio change that took effect on December 21, 2012.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Trading Price</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">High</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">Low</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Annual High and Low</TD><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: 74%; text-align: left">2011</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">74.85</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">7.05</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.75</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.40</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49.59</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.02</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56.98</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: White">
    <TD STYLE="font-weight: bold; text-align: left">Quarterly Highs and Lows</TD><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(204,238,255)">
    <TD>First Quarter of 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56.98</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33.71</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Second Quarter of 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46.75</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.78</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Third Quarter of 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48.18</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Fourth Quarter of 2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23.06</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>First Quarter of 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29.27</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.70</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Second Quarter of 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.79</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Third Quarter of 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.41</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.30</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Fourth Quarter of 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.44</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: White">
    <TD STYLE="font-weight: bold; text-align: left">Monthly Highs and Lows</TD><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(204,238,255)">
    <TD>October 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.44</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.61</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>November 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.83</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>December 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.98</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.54</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>January 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.21</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>February 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.90</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.59</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">March 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.03</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">April 2016 (through April 5, 2016)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.36</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.85</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Plan of Distribution</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">Markets</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">See &ldquo;&mdash; A. Offering and Listing
Details.&rdquo;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">D.</TD><TD STYLE="text-align: justify">D. Selling Shareholders</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">E.</TD><TD STYLE="text-align: justify">E. Dilution</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">F.</TD><TD STYLE="text-align: justify">F. Expenses of the Issue</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_014"></A>ITEM 10. ADDITIONAL INFORMATION</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Share Capital</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Memorandum and Articles of Association</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>


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

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

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 chairman shall have a second or casting vote. 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: 0.25in">&nbsp;</P>

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

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

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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

<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-indent: 0.25in">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 any one or more shareholders 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: 0.25in">&nbsp;</P>

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

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


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Transfer of Shares</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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) 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) the shares conceded are free of any lien in favor of us;
or (c) a fee of such maximum sum as the NYSE 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: 0.25in">&nbsp;</P>

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

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

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Redemption of Shares</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Variations of Rights of Shares</P>

<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-indent: 0.25in">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 a majority 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Inspection of Books and Records</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Limitations on the Right to Own
Shares</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Disclosure of Shareholder Ownership</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>


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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Demand Registration Rights and
Form F-3 Registration Rights</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We, however, are not obligated to effect
a demand registration or a Form F-3 registration if, among other things, (1) we notify the requesting holder of the registrable
securities of our intention to make a public offering within 180 days, (2) the dollar amount of securities to be sold is of an
aggregate price to the public of less than $5,000,000, or (3) 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">No Sinking Fund</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">Material Contracts</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">D.</TD><TD STYLE="text-align: justify">Exchange Controls</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">E.</TD><TD STYLE="text-align: justify">Taxation</TD>
</TR></TABLE>

<P STYLE="font: bold 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; text-indent: 0in">Cayman Islands Taxation</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 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: 0.25in">Under the PRC tax laws effective prior
to January 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 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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 are 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 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) the senior management and core management departments in charge of its daily operations
function mainly in the PRC; (ii) its financial and human resources decisions are subject to determination or approval by persons
or bodies in the PRC; (iii) 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) 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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">United States Federal Income Tax Considerations</P>

<P STYLE="font: bold 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: 0.25in">The following discussion is a summary of
United States federal income tax considerations relating to the ownership and disposition of our ADSs or ordinary shares by U.S.
Holders (as defined below) that 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 that differ significantly from those discussed below (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). In addition, this discussion does not address
U.S. federal estate, gift, Medicare, and alternative minimum tax, or any non-United States, state, or local tax considerations,
relating to the ownership and disposition of our ADSs or ordinary shares. 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: 0.25in">&nbsp;</P>

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

<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-indent: 0.25in">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)
an individual who is a citizen or resident of the United States, (ii) 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) an estate the income of which is includible in gross income for United States federal income tax
purposes regardless of its source, or (iv) a trust (A) 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) 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: 0.25in">&nbsp;</P>

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


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<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-indent: 0.25in">For United States federal income tax purposes,
it is generally expected that a U.S. Holder of ADSs will be treated as the beneficial owner of the underlying shares represented
by the ADSs. The remainder of this discussion assumes that a U.S. Holder of our ADSs will be treated in this manner. Accordingly,
deposits or withdrawals of ordinary shares for ADSs will generally not be subject to United States federal income tax.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Passive Foreign Investment Company
Considerations</P>

<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-indent: 0.25in">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) 75% or more of its gross income for such year consists of certain
types of &ldquo;passive&rdquo; income or (ii) 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 goodwill and other 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Based on our income and assets, we do not
believe that we were a PFIC for the taxable year ended December 31, 2015 and we do not anticipate becoming a PFIC in future taxable
years, although there can be no assurance in this regard. 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 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: 0.25in">&nbsp;</P>

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

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

<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-indent: 0.25in">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) the ADSs
or ordinary shares, as applicable, are readily tradable on an established securities market in the United States, or, if we are
eligible for the benefits of a comprehensive tax treaty with the United States which the Secretary of Treasury of the United States
determines is satisfactory for purposes of this provision and which includes an exchange of information program, (2) 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) certain holding period requirements are met. Our ADSs are listed
on the NYSE, which is an established securities market in the United States, and will be considered readily tradable on an established
securities market for as long as the ADSs continue to be listed on the NYSE. 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. However, in
the event our company is deemed to be a PRC resident enterprise under the PRC Enterprise Income Tax Law (see &ldquo;Chinese Taxation&rdquo;
above), we may be eligible for the benefits of the United States-PRC income tax treaty (which the Secretary of the Treasury of
the United States has determined is satisfactory for this purpose) and dividends paid with respect to our ADSs or ordinary shares,
regardless of whether they are backed by our ADSs, will be treated as qualified dividend income. U.S. Holders are urged to consult
their tax advisors regarding the availability of the reduced tax rate on dividends with respect to our ADSs or ordinary shares
in their particular circumstances. 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: 0.25in">&nbsp;</P>


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<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-indent: 0.25in">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 resident
enterprise 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 U.S. 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.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Sale or Other Disposition of ADSs
or Ordinary Shares</P>

<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-indent: 0.25in">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 U.S. 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 event that we are treated as a PRC resident enterprise 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 PRC 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: 0.25in">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Passive Foreign Investment Company
Rules</P>

<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-indent: 0.25in">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) 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) 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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an additional tax equal to the 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="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-indent: 0.25in">If we are a PFIC for any taxable year during
which a U.S. Holder holds our ADSs or ordinary shares and any of our non-United States subsidiaries is also a PFIC, such U.S. Holder
would be treated as owning a proportionate amount (by value) of the shares of the lower-tier PFIC for purposes of the application
of these rules. Each U.S. Holder is advised to consult its tax advisors regarding the application of the PFIC rules to any of our
subsidiaries.</P>

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


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<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-indent: 0.25in">A U.S. Holder of &ldquo;marketable stock&rdquo;
in a PFIC may make a mark-to-market election with respect to our ADSs to elect out of the tax treatment discussed above, provided
that the ADSs are regularly traded on the NYSE. We anticipate that the ADSs should qualify as being regularly traded on the NYSE,
but no assurances may be given in this regard. If a U.S. Holder makes a mark-to-market election for the ADSs (but not our ordinary
shares), such U.S. Holder will include in income for each year that we are treated as a PFIC with respect to such U.S. Holder an
amount equal to the excess, if any, of the fair market value of the ADSs as of the close of the U.S. Holder&rsquo;s taxable year
over the U.S. 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 resulting from the mark-to-market election.</P>

<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-indent: 0.25in">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.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

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

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

<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-indent: 0.25in">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. Each U.S. Holder is advised to consult its tax advisor regarding the application of the United States information
reporting rules to their particular circumstances.</P>

<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-indent: 0.25in">In addition, U.S. Holders 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 &ldquo;financial
institution,&rdquo; and whose aggregate value of all foreign financial assets exceeds $50,000 during the tax year (or a higher
dollar amount prescribed by the Internal Revenue Service) may be required to attach to their tax return for the year certain information
relating to such specified foreign financial assets as required by the Internal Revenue Service. A U.S. Holder who fails to timely
furnish the required information may be subject to penalties. 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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">F.</TD><TD STYLE="text-align: justify">Dividends and Paying Agents</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">G.</TD><TD STYLE="text-align: justify">Statement by Experts</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">H.</TD><TD STYLE="text-align: justify">Documents on Display</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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) within
six months after the end of each fiscal year, which is December 31, for fiscal years ending before December 15, 2011; and (2) within
four months after the end of each fiscal year for fiscal years ending on or after December 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 16 of the Exchange Act.</P>

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


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<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">I.</TD><TD STYLE="text-align: justify">Subsidiary Information</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_015"></A>ITEM 11. QUANTITATIVE AND QUALITATIVE
DISCLOSURES ABOUT MARKET RISK</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Interest Rate Risk</P>

<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-indent: 0.25in">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, 2015, we had outstanding long-term bank borrowings of $170.1 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, 2015 for the long-term bank borrowings was 5.68%. 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 $0.7 million in our interest expense for the year ended December 31, 2015.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Foreign Exchange Risk</P>

<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-indent: 0.25in">Substantially all of our revenues and most
of our expenses are denominated in RMB. Our exposure to foreign exchange risk primarily relates to (1) 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) 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) 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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, 2015, we had RMB-denominated cash, cash equivalents, and short-term investments of RMB200.7 million and U.S.
dollar-denominated cash, cash equivalents and short-term investments of $2.7 million. Assuming we had converted the U.S. dollar-denominated
cash, cash equivalents and short-term investments of $2.7 million into RMB at the exchange rate of $1.00 for RMB6.4778 as of December
31, 2015, this cash, cash equivalents and short-term investments would have been RMB17.5 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 RMB15.8 million.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_016"></A>ITEM 12. DESCRIPTION OF SECURITIES OTHER
THAN EQUITY SECURITIES</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Debt Securities</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">Warrants and Rights</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">C.</TD><TD STYLE="text-align: justify">Other Securities</TD>
</TR></TABLE>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">D.</TD><TD STYLE="text-align: justify">American Depositary Shares</TD>
</TR></TABLE>

<P STYLE="font: bold 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; text-indent: 0in">Fees and Charges Our ADS Holders May
Have to Pay</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></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="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-indent: 0.25in">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) deduct the amount thereof from any cash distributions, or (ii) 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: 0.25in">&nbsp;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Fees and Other Payments Made by the Depositary
to Us</P>

<P STYLE="font: bold 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: 0.25in">The depositary bank may reimburse us for
certain expenses incurred by us in respect of the ADS 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 ADS 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, 2015, we did not receive any payment
from the depositary 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 waiver, 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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_017"></A>PART
II</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_018"></A>ITEM 13. DEFAULTS, DIVIDEND ARREARAGES
AND DELINQUENCIES</P>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_019"></A>ITEM 14. MATERIAL MODIFICATIONS TO THE
RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</P>

<P STYLE="font: bold 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: 0.25in">The following &ldquo;Use of Proceeds&rdquo;
information relates to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>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;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the registration statement on Form F-3 (File number: 333-195239) to register up to US$150,000,000 of our ordinary shares, including
ordinary shares represented by ADSs, preferred shares and warrants, which became effective on May 2, 2014, together with the prospectus
supplement dated May 15, 2014, pursuant to which 2,000,000 ADSs, representing 50,000,000 ordinary shares, were offered and sold
by us at an offering price of $29.00 per share, or the May 2014 offering. Credit Suisse Securities (USA) LLC acted as the underwriter
in the May 2014 offering; and</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the registration statement on Form F-3 (File number: 333-201223) to register up to US$150,000,000 of our ordinary shares, including
ordinary shares represented by ADSs, preferred shares and warrants, which became effective on January 7, 2015, together with the
prospectus supplement dated February 5, 2015, pursuant to which 1,540,000 ADSs, representing 38,500,000 ordinary shares, were offered
and sold by us at an offering price of $19.50 per ADS, or the February 2015 offering. Credit Suisse Securities (USA) LLC acted
as the underwriter in the February 2015 offering.</TD></TR></TABLE>

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


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<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-indent: 0.25in">We received net proceeds of $54.6 million
from our May 2014 offering. Our expenses incurred and paid to others in connection with the May 2014 offering totaled $3.4 million,
which included $2.6 million for underwriting discounts, $23,500 for reimbursement of the underwriter for FINRA-related expenses
and $0.8&nbsp;million for other expenses.</P>

<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-indent: 0.25in">We received net proceeds of US$28.0 million
from our February 2015 offering. Our expenses incurred and paid to others in connection with the May 2014 offering totaled $2.1
million, which included $1.4 million for underwriting discounts, $23,050 reimbursement of the underwriter for FINRA-related expenses
and $0.7&nbsp;million for other expenses.</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">As of the date of this annual report, we have used all of the
net proceeds received from our initial public offering, the May 2014 offering and the February 2015 offering. Of the net proceeds
from our May 2014 offering, $25.3 million was used for construction of plant, building and facilities, and $29.3 for purchase and
installation of machinery and equipment. As for the offering in February 2015, we have used all of the net proceeds for general
corporate purposes, including studying the feasibility of Phase 3A expansion project and working capital.</P>

<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-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_020"></A>ITEM 15. CONTROLS AND PROCEDURES</P>

<P STYLE="font: bold 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; text-indent: 0in">Disclosure Controls and Procedures</P>

<P STYLE="font: bold 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: 0.25in">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, as of
December 31, 2015. 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, 2015.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Management&rsquo;s Report On Internal
Control Over Financial Reporting</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Our management conducted an assessment
of the effectiveness of our internal control over financial reporting as of December 31, 2015. 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) (2013 framework). Based on this assessment, our management has concluded that, as of December
31, 2015, our internal control over financial reporting was effective.</P>

<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-indent: 0.25in">Deloitte Touche Tohmatsu Certified Public
Accountants LLP, an independent registered public accounting firm, who audited our consolidated financial statements for the year
ended December 31, 2015, has also audited the effectiveness of internal control over financial reporting as of December 31, 2015.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Report of Independent Registered Public
Accounting Firm</P>

<P STYLE="font: bold 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">TO THE BOARD OF DIRECTORS AND SHAREHOLDERS
OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">DAQO NEW ENERGY CORP.:</P>

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


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<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-indent: 0.25in">We have audited the internal control over
financial reporting of Daqo New Energy Corp and its subsidiaries (the &ldquo;Company&rdquo;) as of December 31, 2015, based on
the criteria established in <I>Internal Control&mdash;Integrated Framework (2013)</I> issued by the Committee of Sponsoring Organizations
of the Treadway Commission. The Company&rsquo;s management is responsible for maintaining effective internal control over financial
reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying
Management&rsquo;s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the
Company&rsquo;s internal control over financial reporting based on our audit.</P>

<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-indent: 0.25in">We conducted our audit 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 effective internal control over financial reporting was maintained in all
material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk
that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the
assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit
provide a reasonable basis for our opinion.</P>

<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-indent: 0.25in">A company&rsquo;s internal control over
financial reporting is a process designed by, or under the supervision of, the company&rsquo;s principal executive and principal
financial officers, or persons performing similar functions, and effected by the company&rsquo;s board of directors, management,
and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of consolidated
financial statements for external purposes in accordance with generally accepted accounting principles. A company&rsquo;s internal
control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in
reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance
with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance
with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of the company&rsquo;s assets that could have a material effect on the
consolidated financial statements.</P>

<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-indent: 0.25in">Because of the inherent limitations of
internal control over financial reporting, including the possibility of collusion or improper management override of controls,
material misstatements due to error or fraud may not be prevented or detected on a timely basis. Also, projections of any evaluation
of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls
may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</P>

<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-indent: 0.25in">In our opinion, the Company maintained,
in all material respects, effective internal control over financial reporting as of December 31, 2015, based on the criteria established
in <I>Internal Control-Integrated Framework (2013)</I> issued by the Committee of Sponsoring Organizations of the Treadway Commission.</P>

<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-indent: 0.25in">We have also audited, in accordance
with the standards of the Public Company Accounting Oversight Board (United States), the consolidated financial statements
and the related financial statement schedule included in Schedule I as of and for the year ended December 31, 2015 of the
Company and our report dated April&nbsp;7, 2016 expressed an unqualified opinion on those consolidated financial
statements and financial statement schedule.</P>

<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-indent: 0.25in">/s/ DELOITTE TOUCHE TOHMATSU CERTIFIED
PUBLIC ACCOUNTANTS LLP</P>

<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-indent: 0.25in">Shanghai, China</P>

<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-indent: 0.25in">April 7, 2016</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Changes in Internal Control over Financial
Reporting</P>

<P STYLE="font: bold 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: 0.25in">There have not been any changes in our
internal control over financial reporting in the year ended December 31, 2015, 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: 0.25in">&nbsp;</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_021"></A>ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT</P>

<P STYLE="font: bold 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: 0.25in">Our board of directors has determined that
Mr. Arthur Wong, an independent director (under the standards set forth in Section 303A of the Corporate Governance Rules of the
NYSE 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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_022"></A>ITEM 16B. CODE OF ETHICS</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_023"></A>ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND
SERVICES</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in"><I>&nbsp;</I></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; 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><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">2014</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">2015</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="10" STYLE="font-weight: bold; text-align: center">(in US$ thousands)</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%">Audit fees<SUP>(1)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">700</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">890</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">1,011</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Tax fees<SUP>(2)</SUP></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></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>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">&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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><SUP>&nbsp;</SUP></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"><SUP>(2)</SUP></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="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; text-indent: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_024"></A>ITEM 16D. EXEMPTIONS FROM THE LISTING
STANDARDS FOR AUDIT COMMITTEES</P>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_025"></A>ITEM 16E. PURCHASES OF EQUITY SECURITIES
BY THE ISSUER AND AFFILIATED PURCHASERS</P>

<P STYLE="font: bold 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: 0.25in">On August 26, 2015, our board of directors
authorized a share repurchase program, whereby our company may repurchase up to US$10 million of our ordinary shares or ADSs from
August 26, 2015 to August 25, 2016. The share repurchase program was publicly announced on August 26, 2015. 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: 0.25in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total<BR> Number of<BR> ADSs<BR> Purchased</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">Average<BR> Price Paid<BR> per ADS<BR> ($)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total<BR> Number of<BR> ADSs<BR> Purchased as<BR> Part of<BR> Publicly<BR> Announced<BR> Plans or<BR> Programs</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Maximum<BR> Dollar Value<BR> of ADSs that<BR> May Yet be<BR> Purchased<BR> Under the<BR> Plans or<BR> Programs ($)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%">August 26, 2015 &mdash; August 31, 2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">10,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>September 1, 2015 &mdash; September 30, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,279</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.35</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52,279</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,249,828</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>October 1, 2015 &mdash; October 31, 2015</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">9,249,828</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>November 1, 2015 &mdash; November 30, 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.29</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,649,836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>December 1, 2015 &mdash; December 31, 2015</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">8,649,836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>January 1, 2016 &mdash; January 31, 2016</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">8,649,836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>February 1, 2016 &mdash; February 29, 2016</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">8,649,836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>March 1, 2016 &mdash; March 31, 2016</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">8,649,836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>April 1, 2016 &mdash;  April 6, 2016</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">8,649,836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94,276</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.32</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94,276</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,649,836</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 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; text-indent: 0in"><A NAME="a_026"></A>ITEM 16F. CHANGE IN REGISTRANT&rsquo;S
CERTIFYING ACCOUNTANT</P>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_027"></A>ITEM 16G. CORPORATE GOVERNANCE</P>

<P STYLE="font: bold 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: 0.25in">Certain corporate governance practices
in the Cayman Islands, which is our home country, differ significantly from the NYSE 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. If we choose to follow home country practice, our shareholders may be afforded less protection than they otherwise
would under the NYSE 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: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Section 312.03(b) of the Corporate Governance
Rules of the NYSE requires shareholder approval for the issuance of common stock, or of securities convertible into common stock,
in any transaction or series of transactions to a &ldquo;related party&rdquo; (which term is defined as a director, officer or
substantial security holder), a subsidiary, affiliate or other closely related person of such related party, or any company or
entity in which a related party has a substantial direct or indirect interest, if the number of shares to be issued exceeds one
percent of the number of shares outstanding prior to the issuance. Under the laws of our jurisdiction of incorporation or home
country, the Cayman Islands, and our currently effective memorandum and articles of association, we are not required to obtain
shareholder approval before issuing ordinary shares to a related party. In February 2015, we followed home country practice in
connection with the offer and sale of 1,025,641 ADSs, representing 25,641,025 ordinary shares, to Duke Elite Limited, an affiliate
of Mr. Xiang Xu, a director of ours and president of Daqo Group, pursuant to an underwritten follow-on offering, and at the same
price and on the same terms as other ADSs offered and sold in the offering, without shareholder approval.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_028"></A>ITEM 16H. MINE SAFETY DISCLOSURE</P>

<P STYLE="font: bold 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: 0.25in">Not applicable.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_029"></A>PART
III</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_030"></A>ITEM 17. FINANCIAL STATEMENTS</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_031"></A>ITEM 18. FINANCIAL STATEMENTS</P>

<P STYLE="font: bold 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: 0.25in">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: 0.25in">&nbsp;</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_032"></A>ITEM 19. EXHIBITS</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: top; width: 10%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 89%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Description of Document</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>1.1</TD>
    <TD>&nbsp;</TD>
    <TD>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))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.1</TD>
    <TD>&nbsp;</TD>
    <TD>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 (incorporated herein by reference to Exhibit 2.1 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.2</TD>
    <TD>&nbsp;</TD>
    <TD>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 (incorporated herein by reference to Exhibit 2.2 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.1</TD>
    <TD>&nbsp;</TD>
    <TD>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))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.2</TD>
    <TD>&nbsp;</TD>
    <TD>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))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.3</TD>
    <TD>&nbsp;</TD>
    <TD>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))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.4</TD>
    <TD>&nbsp;</TD>
    <TD>English translation of the Trademark License Agreement among Daqo Group, Chongqing Daqo and Nanjing Daqo dated as of May 8, 2009 (incorporated herein by reference to Exhibit 10.27 to the registration statement on Form F-1, as amended (File No. 333-164307))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.5</TD>
    <TD>&nbsp;</TD>
    <TD>Non-Competition Agreement among Daqo Group, Daqo Cayman (formerly known as Mega Stand International Limited) and Chongqing Daqo dated as of July 1, 2008 (incorporated herein by reference to Exhibit 10.28 to the registration statement on Form F-1, as amended (File No.&nbsp;333-164307))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.6</TD>
    <TD>&nbsp;</TD>
    <TD>English translation of the Loan Agreement between Xinjiang Daqo and Bank of China, Shihezi Branch dated as of September 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))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.7</TD>
    <TD>&nbsp;</TD>
    <TD>English summary of Loan agreement with China Construction Bank dated as of April 17, 2013 (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 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.8</TD>
    <TD>&nbsp;</TD>
    <TD>English summary of Loan agreement with China Construction Bank dated as of November 6, 2013 (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 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.9</TD>
    <TD>&nbsp;</TD>
    <TD>English translation of Lease Contract (Revised Edition) between Daqo New Material and Chongqing Daqo effective as of January 1, 2009 (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 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.10</TD>
    <TD>&nbsp;</TD>
    <TD>English translation of Lease Contract between Daqo New Material and Chongqing Daqo effective as of January 1, 2012 (incorporated herein by reference to Exhibit 4.27 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.11</TD>
    <TD>&nbsp;</TD>
    <TD>English translation of Supplemental Agreement to the Lease Contract between Daqo New Material and Chongqing Daqo effective as of October 1, 2012 (incorporated herein by reference to Exhibit 4.28 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.12</TD>
    <TD>&nbsp;</TD>
    <TD>English translation of Supplemental Agreement to the Lease Contract between Daqo New Material and Chongqing Daqo effective as of January 1, 2014 (incorporated herein by reference to Exhibit 4.29 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 14, 2014 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.13</TD>
    <TD>&nbsp;</TD>
    <TD>Letter of Financial Support from Daqo Group and certain shareholders of the Registrant effective as of December 10, 2014 (incorporated herein by reference to Exhibit 4.15 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 17, 2015 (File No. 001-34602))</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: top; width: 10%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; width: 89%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Description of Document</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.14</TD>
    <TD>&nbsp;</TD>
    <TD>2014 Share Incentive Plan (incorporated herein by reference to Exhibit 4.16 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 17, 2015 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.15</TD>
    <TD>&nbsp;</TD>
    <TD>Letter of Financial Support from Daqo Group and certain shareholders of the Registrant effective as of March 6, 2015&nbsp;&nbsp;(incorporated herein by reference to Exhibit 4.17 of our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 17, 2015 (File No. 001-34602))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.16*</TD>
    <TD>&nbsp;</TD>
    <TD>English Summary of Working Capital Loan Agreement between Xinjiang Daqo New Energy Co., Ltd. and Industrial Bank Co., Ltd., Urumqi Branch, effective dated April 30, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.17*</TD>
    <TD>&nbsp;</TD>
    <TD>English Summary of Fixed Assets Loan Agreement between Xinjiang Daqo New Energy Co., Ltd. and Chongqing Rural Commercial
    Bank, Wanzhou Branch dated June 24, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.18*</TD>
    <TD>&nbsp;</TD>
    <TD>English Summary of Working Capital Loan Agreement between Xinjiang Daqo New Energy Co., Ltd. and Chongqing Rural
    Commercial Bank, Wanzhou Branch dated July 16, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.19*</TD>
    <TD>&nbsp;</TD>
    <TD>English Summary of Working Capital Loan Agreement between Xinjiang Daqo New Energy Co., Ltd. and Chongqing Rural
    Commercial Bank, Wanzhou Branch dated July 23, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.20*</TD>
    <TD>&nbsp;</TD>
    <TD>English Summary of Working Capital Loan Agreement between Xinjiang Daqo New Energy Co., Ltd. and Chongqing Rural
    Commercial Bank, Wanzhou Branch dated September 16, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.21*</TD>
    <TD>&nbsp;</TD>
    <TD>English Summary of Working Capital Loan Agreement between Xinjiang Daqo New Energy Co., Ltd. and Chongqing Rural
    Commercial Bank, Wanzhou Branch dated October 14, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.22*</TD>
    <TD>&nbsp;</TD>
    <TD>Letter of Financial Support from Daqo Group and certain shareholders of the Registrant effective as of February 22, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>8.1*</TD>
    <TD>&nbsp;</TD>
    <TD>Subsidiaries of the Registrant</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>11.1</TD>
    <TD>&nbsp;</TD>
    <TD>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))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>12.1*</TD>
    <TD>&nbsp;</TD>
    <TD>CEO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>12.2*</TD>
    <TD>&nbsp;</TD>
    <TD>CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>13.1**</TD>
    <TD>&nbsp;</TD>
    <TD>CEO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>13.2**</TD>
    <TD>&nbsp;</TD>
    <TD>CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>15.1*</TD>
    <TD>&nbsp;</TD>
    <TD>Consent of Deloitte Touche Tohmatsu Certified Public Accountants LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>101.INS*</TD>
    <TD>&nbsp;</TD>
    <TD>XBRL Instance Document</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>101.SCH*</TD>
    <TD>&nbsp;</TD>
    <TD>XBRL Taxonomy Extension Schema Document</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>101.CAL*</TD>
    <TD>&nbsp;</TD>
    <TD>XBRL Taxonomy Extension Calculation Linkbase Document</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>101.DEF*</TD>
    <TD>&nbsp;</TD>
    <TD>XBRL Taxonomy Extension Definition Linkbase Document</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>101.LAB*</TD>
    <TD>&nbsp;</TD>
    <TD>XBRL Taxonomy Extension Label Linkbase Document</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>101.PRE*</TD>
    <TD>&nbsp;</TD>
    <TD>XBRL Taxonomy Extension Presentation Linkbase Document</TD></TR>
</TABLE>
<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>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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>Filed with this annual report on Form 20-F</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&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">**</TD><TD>Furnished with this annual report on Form 20-F</TD></TR></TABLE>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_033"></A>SIGNATURES</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0.25in">&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"><B>DAQO NEW ENERGY CORP.</B></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 55%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: Black 0.5pt solid">/s/ Gongda Yao</P></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;&nbsp;</TD>
    <TD>Gongda Yao</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date:</TD>
    <TD>April 7, 2016</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

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

<P STYLE="margin: 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>INDEX TO CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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(204,238,255)">
    <TD STYLE="width: 88%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#fin_001">Reports of Independent Registered Public Accounting Firm</A></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Balance Sheets as of December&nbsp;31, 2014 and 2015</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-3&nbsp;&ndash; F-4</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements of Operations for the Years Ended December&nbsp;31, 2013, 2014 and 2015</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements of Comprehensive (Loss) Income for the Years Ended December&nbsp;31, 2013, 2014 and 2015</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements of Changes in Equity for the Years Ended December&nbsp;31, 2013, 2014 and 2015</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consolidated Statements of Cash Flows for the Years Ended December&nbsp;31, 2013, 2014 and 2015</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-8&nbsp;&ndash;&nbsp;F-9</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Consolidated Financial Statements for the Years Ended December&nbsp;31, 2013, 2014 and 2015</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-10&nbsp;&ndash;&nbsp;F-41</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="#fin_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Statement Schedule I</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-42 &ndash;&nbsp;F-46</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">&nbsp;</P>


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<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: center"><B><A NAME="fin_001"></A>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">We have audited the accompanying consolidated
balance sheets of Daqo New Energy Corp. and its subsidiaries (the &ldquo;Company&rdquo;) as of December&nbsp;31, 2014, and 2015,
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, 2015. Our audits also included the 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: 0.5in">&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. 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">In our opinion, such consolidated financial
statements present fairly, in all material respects, the financial position of Daqo New Energy Corp. and its subsidiaries as of
December&nbsp;31, 2014, and 2015, and the results of their operations and their cash flows for each of the three years in the period
ended December&nbsp;31, 2015, 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">We have also audited, in accordance
with the standards of the Public Company Accounting Oversight Board (United States), the Company&rsquo;s internal control
over financial reporting as of December 31, 2015, based on the criteria established in<I> Internal Control &mdash;</I> <I>Integrated
Framework (2013)</I> issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated
April 7, 2016 expressed an unqualified opinion on the Company&rsquo;s internal control over financial reporting.&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 0.8pt 0pt 0">/s/ DELOITTE&nbsp;TOUCHE&nbsp;TOHMATSU&nbsp;CERTIFIED
PUBLIC ACCOUNTANTS LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Shanghai, China</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 0.85pt 0pt 10pt; text-indent: -10pt">April 7, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.85pt 0pt 10pt; text-indent: -10pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.85pt 0pt 0"><B>&nbsp;&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B><A NAME="fin_002"></A>DAQO NEW ENERGY CORP.</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; text-indent: 0"><B>CONSOLIDATED BALANCE SHEETS</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; text-indent: 0"><B>DECEMBER 31, 2014
AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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; text-indent: 0"><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="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 NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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(204,238,255)">
    <TD STYLE="width: 70%; 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">$</TD><TD STYLE="width: 12%; text-align: right">7,068,483</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">14,490,011</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">22,169,236</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,062,713</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -14.15pt; padding-left: 28.35pt">Accounts receivable, net of allowance for doubtful accounts of &nbsp;$3,189,110 and $1,087,465 as of December&nbsp;31, 2014 and 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,714,261</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,849,608</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">Note receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,239,886</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,109,695</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">12,835,869</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,235,141</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">1,352,747</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,028,287</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">9,581,784</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,715,939</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: -11.3pt; padding-left: 25.5pt">Amounts due from related parties</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,986,968</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">284,633</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121,949,234</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88,776,027</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">559,006,119</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">544,326,125</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">29,006,693</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,122,287</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Deferred tax assets-non current</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">626,965</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -11.3pt; padding-left: 25.5pt">Other non-current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">169,173</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="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">710,131,219</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">660,851,404</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">LIABILITIES:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Current liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -11.3pt; padding-left: 25.5pt">Short-term bank borrowings, including current portion of long-term bank borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">159,803,876</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">123,936,995</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">16,784,156</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,491,292</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">Note payables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,941,807</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,152,962</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">7,308,535</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,183,376</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -14.15pt; 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">64,575,527</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49,674,887</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">8,955,663</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,616,831</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -14.15pt; 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">89,698,151</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,396,527</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -14.15pt; padding-left: 28.35pt; padding-bottom: 1pt">Income tax payable</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">-</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">940,732</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></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">396,067,715</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">275,393,602</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">Long-term bank borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77,336,160</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118,548,430</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">Advances from customers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,401,667</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: White">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt; padding-bottom: 1pt">Deferred government subsidies</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">26,557,607</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">25,252,882</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 5.7pt; padding-left: 8.5pt">&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; 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">503,363,149</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">419,194,914</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: 0pt 0; text-align: center"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Commitments and contingencies (Note 17)</P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: center; text-indent: 0"><B>DAQO NEW ENERGY CORP.</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; text-indent: 0"><B>CONSOLIDATED BALANCE SHEETS&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; text-indent: 0"><B>DECEMBER 31, 2014
AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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; text-indent: 0"><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="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 NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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>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: rgb(204,238,255)">
    <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, 2014 and 2015; 225,864,103 and 279,214,103 shares issued as of December 31, 2014 and 2015, respectively and 223,577,853 and 260,836,578 shares outstanding as of December 31, 2014 and 2015, respectively</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">22,358</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">26,320</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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">203,125,494</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">236,358,070</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Accumulated losses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16,018,293</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,061,404</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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">20,037,183</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,780,313</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Treasury Stock, at cost (2,286,250 and 4,643,150 shares as of December 31, 2014 and 2015, respectively)</TD><TD STYLE="padding-bottom: 1pt">&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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,748,836</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total shareholders&rsquo; equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,768,070</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">240,354,463</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">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">-</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">1,302,027</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total 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">206,768,070</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">241,656,490</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">TOTAL LIABILITIES AND EQUITY</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">710,131,219</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">660,851,404</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-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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    <!-- 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><A NAME="fin_003"></A>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, 2013,
2014 AND 2015</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">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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>&nbsp;&nbsp;&nbsp;Products</TD><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(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- Sales to third parties</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">93,710,464</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">158,256,598</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">166,942,726</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 14.2pt">- Sales to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,471,866</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,840,748</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,069,816</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&nbsp;&nbsp;&nbsp;Service fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 14.2pt">- Sales to third parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,817,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,165,254</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,203,298</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 14.2pt">- Sales to related parties</TD><TD STYLE="padding-bottom: 1pt">&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">3,309,252</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">2,825,128</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 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">108,999,805</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">182,571,852</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">182,040,968</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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; 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">(135,103,408</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">(139,308,511</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">(144,491,083</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">Gross (loss) profit</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43,263,341</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,549,885</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">(18,132,515</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,293,851</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,603,824</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">(3,391,012</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,486,978</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(923,664</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, net</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">552,444</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,824,881</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">(158,424,827</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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,622,588</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">(174,527,577</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">(11,228,385</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">(11,325,195</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">(Loss) income from operations</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,034,956</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,224,690</TD><TD STYLE="text-align: left">&nbsp;</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">(19,349,190</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15,654,106</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,173,958</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Interest income</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">324,118</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">493,995</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 (loss) gain</TD><TD STYLE="padding-bottom: 1pt">&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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(55,792</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">640,678</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">(Loss) income before income taxes</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,649,176</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,185,405</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 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">(1,271,765</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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,137,821</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net (loss) income</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,649,176</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,047,584</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net (loss) income attributable to noncontrolling interest</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">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90,695</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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; padding-bottom: 2.5pt">Net (loss) income 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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(70,943,484</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">16,649,176</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">12,956,889</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NET (LOSS) EARNINGS PER ORDINARY SHARE</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 14.2pt">Basic&mdash;ordinary shares&#9;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.41</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.08</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.05</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; 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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.41</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.08</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">0.05</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">173,068,420</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">206,349,976</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">258,015,851</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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="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">173,068,420</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">211,353,643</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">261,411,933</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"><B>&nbsp;&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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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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: center; text-indent: 0"><B><A NAME="fin_004"></A>DAQO NEW ENERGY CORP.</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; text-indent: 0"><B>CONSOLIDATED STATEMENTS OF COMPREHENSIVE
(LOSS) INCOME</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; text-indent: 0"><B>FOR THE YEARS ENDED
DECEMBER 31, 2013, 2014 AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>(In U.S. dollars, except
share data)</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 STYLE="text-align: center; padding-left: 0; text-indent: 0">&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; padding-left: 0; text-indent: 0">&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><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">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left; padding-left: 0; text-indent: 0">Net (loss) income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(221,090,508</TD><TD STYLE="width: 1%; text-align: left">))</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">16,649,176</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">13,047,584</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; text-indent: 0">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(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">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">5,543,033</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">(3,662,013</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">(11,286,150</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; padding-left: 0; text-indent: 0">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">5,543,033</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">(3,662,013</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">(11,286,150</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">Comprehensive (loss) income</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,987,163</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,761,434</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; text-indent: 0">Comprehensive (loss) income 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">(148,752,181</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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">61,415</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0; text-indent: 0">Comprehensive (loss) income 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">(66,795,294</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,987,163</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,700,019</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;&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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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-indent: 0"><B><A NAME="fin_005"></A>DAQO NEW ENERGY CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>CONSOLIDATED STATEMENTS OF CHANGES IN
EQUITY</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; text-indent: 0"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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; text-indent: 0"><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 STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-weight: normal; padding-bottom: 1pt; font-style: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: normal; text-align: center; border-bottom: Black 1pt solid; font-style: normal; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>Ordinary
    shares</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: normal; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-weight: normal; padding-bottom: 1pt; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: normal; text-align: center; border-bottom: Black 1pt solid; font-style: normal; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>Treasury
    Stock</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: normal; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"><B>Additional</B></FONT><FONT STYLE="font-size: 7pt"><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>paid in</B></FONT><BR><B> <FONT STYLE="font-family: Times New Roman, Times, Serif">capital</FONT></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-decoration: none"><P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></P><P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>Accumulated</B></FONT></P> <P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>Loss</B></FONT></P></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-decoration: none"><P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>Accumulated</B></FONT></P> <P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>other</B><BR>
                                         <B>comprehensive</B><BR><B> income</B></FONT></P></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt"><B>Noncontrolling</B></FONT><FONT STYLE="font-size: 7pt"><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>interest</B></FONT></FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-weight: normal; padding-bottom: 1pt; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: normal; text-align: center; border-bottom: Black 1pt solid; font-style: normal; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>Total</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: normal; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-weight: normal; padding-bottom: 1pt; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: normal; text-align: center; border-bottom: Black 1pt solid; font-style: normal; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>Number</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: normal; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-weight: normal; padding-bottom: 1pt; font-style: normal; text-decoration: none; text-align: center"><FONT STYLE="font-size: 7pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: normal; text-align: center; border-bottom: Black 1pt solid; font-style: normal; text-decoration: none"><FONT STYLE="font-size: 7pt"><B>$</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: normal; font-style: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="width: 28%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Balance
    at January&nbsp;1, 2013</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">172,877,433</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">17,288</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(494,928</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">144,755,902</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">38,276,015</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">19,551,006</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">138,772,130</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">340,877,413</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Net
    loss</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(70,943,484</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(150,147,024</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(221,090,508</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Other
    comprehensive income</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">4,148,190</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,394,843</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">5,543,033</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Share-based
    compensation</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,881,401</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,881,401</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Deconsolidation
    of Daqo New Material Co., Ltd.</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">9,980,051</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">9,980,051</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Options
    Exercise</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">550,420</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">55</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">96,256</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">38,860</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">135,171</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Balance
    at December&nbsp;31, 2013</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">173,427,853</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">17,343</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(398,672</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">146,676,163</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(32,667,469</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">23,699,196</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">137,326,561</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none; padding-bottom: 2.5pt"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Net
    income</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">16,649,176</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">16,649,176</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Other
    comprehensive income</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(3,662,013</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(3,662,013</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Share-based
    compensation</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,792,819</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,792,819</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Follow-on
    equity offering, net of issuance costs of $ 3,375,553</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">50,000,000</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">5,000</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">54,619,447</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">54,624,447</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Options
    Exercise</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">150,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">15</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">37,065</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">37,080</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Balance
    at December&nbsp;31, 2014</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">223,577,853</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">22,358</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(398,672</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">203,125,494</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(16,018,293</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">20,037,183</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">206,768,070</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>

<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="width: 28%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Net
    income</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">12,956,889</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">90,695</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">13,047,584</FONT></TD><TD STYLE="width: 1%; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Other
    comprehensive income</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(11,256,870</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(29,280</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(11,286,150</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Share-based
    compensation</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">3,687,951</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">3,687,951</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Follow-on
    equity offering, net of issuance costs of $2,033,041</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">38,500,000</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">3,850</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">27,993,109</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">27,996,959</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Options
    Exercise</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,115,625</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">112</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">275,671</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">275,783</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Repurchase
    of stock</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(2,356,900</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(1,350,164</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(1,350,164</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="text-align: left; padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><P STYLE="margin: 0pt 0"><FONT STYLE="font-size: 7pt">Capital
                                         injection from noncontrolling shareholders</FONT></P>


</TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,275,845</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,240,612</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">2,516,457</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-style: normal; font-weight: normal; text-decoration: none">
    <TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">Balance
    at December&nbsp;31, 2015</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">260,836,578</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">26,320</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(1,748,836</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">236,358,070</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">(3,061,404</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">8,780,313</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">1,302,027</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right; font-style: normal; font-weight: normal; text-decoration: none"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">241,656,490</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 7pt; font-weight: normal; font-style: normal">&nbsp;</FONT></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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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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; text-indent: 0"><B><A NAME="fin_006"></A>DAQO NEW ENERGY CORP.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>CONSOLIDATED STATEMENTS OF CASH FLOWS</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; text-indent: 0"><B>FOR THE YEARS ENDED
DECEMBER 31, 2013, 2014 AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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; text-indent: 0"><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 STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD><TD 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 31,</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0.125in; text-indent: -0.125in">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: 0.375in; text-indent: -0.125in">Net (loss) income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(221,090,508</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">16,649,176</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">13,047,584</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.5in; text-indent: -0.125in">Adjustments to reconcile net (loss) income 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: 0.5in; text-indent: -0.125in">Long-lived assets impairment</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><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">1,622,588</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.5in; text-indent: -0.125in">Share-based compensation</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">1,792,819</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,687,951</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; text-indent: -0.125in">Inventory write-down</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,905,734</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,568</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">62,422</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.5in; text-indent: -0.125in">Allowance for doubtful accounts</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,823,744</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,026,567</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.5in; text-indent: -0.125in">Depreciation of property, plant and equipment</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,007,943</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,361,026</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Loss on disposal of Property Plant and Equipment</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">314,728</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">166,283</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in; padding-bottom: 1pt; width: 55%">Deferred tax assets</TD><TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 1pt; width: 12%">1,415,502</TD><TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 1pt; width: 12%">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 1pt; width: 12%">(626,965</TD><TD STYLE="text-align: left; padding-bottom: 1pt; width: 1%">)</TD></TR>

<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in; width: 55%">Changes in operating assets and liabilities:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 12%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 12%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 12%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Accounts receivable</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,775,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,399,283</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Note receivables</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(34,702,180</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,898,166</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Prepaid expenses and other current assets</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,217,835</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,465</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.5in; text-indent: -0.125in">Advances to suppliers</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(513,373</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">264,361</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.625in; text-indent: -0.125in">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(25,270,470</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">484,562</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,622,269</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.5in; text-indent: -0.125in">Amount due from related parties</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,193,604</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,481,362</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">Prepaid land use rights</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">623,413</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">595,716</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">Other non-current assets</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">229,688</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">161,657</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">Accounts payable</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(475,966</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,452,811</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">Note payables</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31,992,814</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,733,475</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">Accrued expenses and other current liabilities</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,677,622</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,045</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">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">)</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">940,732</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">Advances from customers</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,813,120</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,051,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.625in; text-indent: -0.125in">Amount due to related parties</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(453,075</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,178,445</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.75in; text-indent: -0.125in">Deferred government subsidies</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">266,082</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(124,842</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&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; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1pt">Net cash (used in) provided by operating activities</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">(16,525,817</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">45,619,729</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">66,426,213</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&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; padding-left: 0.25in; text-indent: -0.125in">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(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Purchases of property, plant and equipment</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(77,028,755</TD><TD STYLE="text-align: left">))</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(81,364,037</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">(Decrease)/Increase in restricted cash</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,560,277</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,121,603</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">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">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,110,085</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; text-indent: -0.125in; 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">(15,241</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">&nbsp;</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">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&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; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1pt">Net cash used in investing activities</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">(30,696,113</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">(90,589,032</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">(74,132,349</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&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; padding-left: 0.25in; text-indent: -0.125in">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: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Proceeds from related parties loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157,271,287</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">275,134,122</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">245,957,818</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; text-indent: -0.125in">Repayment of related parties loans</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(275,088,560</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(276,575,346</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Proceeds from bank borrowings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,551,991</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">176,114,553</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">237,031,976</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Repayment of bank borrowings</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(186,549,888</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(220,611,404</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">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">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,350,164</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Proceeds from options exercised</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,080</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">275,783</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Proceeds from follow-on equity offering</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">58,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,030,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Insurance cost for follow-on equity offering</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">(3,375,553</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,033,041</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Capital injection from noncontrolling shareholders</TD><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">2,516,457</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&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(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Net cash provided by financing activities</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,271,754</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,242,079</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Effect of exchange rate changes on cash and cash equivalents</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(65,052</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(114,415</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Net increase (decrease) in cash and cash equivalents</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">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(762,601</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,421,528</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.125in; 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">6,679,024</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">7,831,084</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">7,068,483</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&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; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 2.5pt">Cash and cash equivalents at the end of the year</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">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">7,831,084</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">7,068,483</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">14,490,011</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"></P>

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


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<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-align: center; text-indent: 0"><B>DAQO NEW ENERGY CORP.</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; text-indent: 0"><B>CONSOLIDATED STATEMENTS OF CASH FLOWS&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; text-indent: 0"><B>FOR THE YEARS ENDED
DECEMBER 31, 2013, 2014 AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>(In U.S. dollars, except
share data)</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 STYLE="padding-left: 0; text-indent: 0">&nbsp;</TD><TD 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 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-left: 0; text-indent: 0">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0; text-indent: 0">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: 0; text-indent: 0">Interest paid, net of capitalized interest</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">19,657,071</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">17,771,457</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">13,284,899</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Income taxes paid</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</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">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,726,825</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-left: 0; text-indent: 0">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(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">Purchases of property, plant and equipment included in payables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">51,766,695</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">79,989,590</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">52,523,129</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0; text-indent: 0">Purchases of property, plant and equipment included in amounts due to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">940,135</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,651,053</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">262,974</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-indent: 0.5in">&nbsp;</P>


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<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: center; text-indent: 0"><B><A NAME="fin_007"></A>DAQO NEW ENERGY CORP.</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; text-indent: 0"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</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; text-indent: 0"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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">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;), 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: 0.5in">&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, 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">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: 0.5in">&nbsp;</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 was from July&nbsp;1, 2008 to December&nbsp;31,
2013, with monthly lease payments that had been renegotiated periodically and were 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
had 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
desired to transfer the ownership of the leased assets to a third party, Chongqing Daqo had the right of first refusal to acquire
the leased assets under the same conditions. If the leased assets were transferred to a third party, the lease agreement was remain
effective and enforceable against the new owner.</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">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 Material, 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.&nbsp;</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;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>DAQO NEW ENERGY CORP.</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; text-indent: 0"><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; text-indent: 0"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, 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 Group manufactured
and sold polysilicon and wafers through Chongqing Daqo and Xinjiang 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 August 2015, the Company's subsidiary,
Xinjiang Daqo, issued stock representing 1% equity interest to Daqo Xinjiang Investment Co., Ltd. (&quot;Xinjiang Daqo Investment&quot;),
an affiliated company which is 100% held by Daqo Group, for total cash proceeds of $2.5 million, which is based on the fair value
of Xinjiang Daqo. Xinjiang Daqo Investment's equity interests in Xinjiang Daqo are presented as a noncontrolling interest in the
Group&rsquo;s consolidated financial statements.</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">&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 Group 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 Group&rsquo;s ability to generate cash flows from operations,
and the Group&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: 21.3pt">As of December 31, 2015, the Company&rsquo;s
current liabilities exceed its current assets by $186.6 million. While the Company had cash and cash equivalents of $14.5 million,
short-term borrowings, including current portion of long-term bank borrowings of $123.9 million will be due within one year. Additionally,
the Company has capital commitments of $15.5 million relating to the purchases of property, plant and equipment to be fulfilled
in the next twelve months.</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">However, the Group regards the going concern assumption as appropriate
considering the following plans and actions:</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" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">The Group generated net income and positive cash flow from operations for two consecutive years.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">The Group has performed a review of its cash flow forecasts for the twelve month period ending
December 31, 2016, and believes that its operating cash flow will be positive during the twelve month period ending December 31,
2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">The Group has or is in the process of taking a number of cost reduction initiatives, including
the new hydrochlorination system, technology improvement and polysilicon capacity expansion in Xinjiang.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; 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: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>On February 22, 2016, the Group obtained a letter of financial support from Daqo Group which has committed to provide sufficient
financial support to the Group to ensure the Group has the funds required to satisfy its obligations as they come due in the normal
course during the twelve months ending December 31, 2016. Further, the support letter provides that Daqo Group will not require
the Group to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group before January 1, 2017, which at December 31,
2015 totaled $46.4 million.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; 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: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>As of December 31, 2015, the Group has available bank accepted note facilities of $22.6 million. 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 of the loans and believes the Company will continue to be able
to do so.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">Based on the above
factors, management believes that adequate sources of liquidity will exist to fund the Group&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-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in"><B><I>(b) Basis of
consolidations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in">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"></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;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>DAQO NEW ENERGY CORP.</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; text-indent: 0"><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; text-indent: 0"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Group 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, useful lives and residual values of long-lived assets, impairment
for long lived assets, valuation allowances for deferred tax assets, interest capitalization and certain assumptions used in the
computation of share-based compensation and related forfeiture rates.</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Group revised the estimates of expected useful lives of property, plant and equipment on January 1, 2014, please refers to Note
2 (i) for details.</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"></FONT>&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, restricted cash, accounts receivable
and notes 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: 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"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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. Allowance for doubtful accounts is $3,189,110 and $</FONT>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,087,465 as of December&nbsp;31, 2014 and 2015, respectively,
based on the aging of the receivables and the Group&rsquo;s assessment of the customers&rsquo; credit risk.</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: 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>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 86%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt"><B>Accounts</B></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="font-weight: bold; border-bottom: Black 1pt solid">receivable</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">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 68%; text-align: left; text-indent: -10pt; padding-left: 10pt">Customer C</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">2,213,393</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">*</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">$</TD><TD STYLE="text-align: right">1,578,947</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,996,042</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer M</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,330,145</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</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">Customer H</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,071,415</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,354,510</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer N</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">2,315,035</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 B</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">2,299,732</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" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 15%">&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: 0.25in; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">From time to time, certain accounts receivable
balances are settled in the form of notes receivable. As of December 31, 2014 and 2015, notes receivable represents bank acceptance
drafts that are non-interest bearing and due within 6 months.</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">Total sales to the Group&rsquo;s largest
customers whose sales constitute over 10% of revenue accounted for approximately 30%, 23% and 51% of revenues for the years ended
December&nbsp;31, 2013, 2014 and 2015, respectively. The Group is substantially dependent upon the continued participation of these
customers in order to maintain its total revenues. Significantly reduction in the Group&rsquo;s dependence on these customers is
likely to take time and there can be no assurance that the Group will succeed in reducing such 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 Group's long-term
bank borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the
Group's short term bank borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Group'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: 0.5in">&nbsp;</P>


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<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: center; text-indent: 0"><B>DAQO NEW ENERGY CORP.</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; text-indent: 0"><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; text-indent: 0"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><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 of $22,169,236 and $19,062,714
as of December&nbsp;31, 2014 and 2015, respectively, are restricted bank 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: 23pt"><B><I>&nbsp;</I></B></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"><B><I>&nbsp;</I></B></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. Provisions for allowance for doubtful accounts are recorded
as general and administrate expense in the consolidated statements of operations.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><B><I>&nbsp;</I></B></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 31, 2013, 2014 and 2015 were $29,905,734, $ 175,568 and $62,422 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">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.&nbsp;</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"></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-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-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</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"><B></B>&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" ALIGN="CENTER" STYLE="width: 85%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Buildings and plant</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30&nbsp;years</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Machinery and equipment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15 years</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Furniture, fixtures and equipment</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3-5&nbsp;years</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Motor vehicles</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6 years</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&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 Group reassesses the reasonableness of
the estimates of useful lives and residual values of long-lived assets when events or changes in circumstances indicate that the
useful lives and residual values of a major asset or a major category of assets may not be reasonable. Factors that the Group considers
in deciding when to perform an analysis of useful lives and residual values of long-lived assets include, but are not limited to,
significant variance of a business or product line in relation to expectations, significant deviation from industry or economic
trends, and significant changes or planned changes in the use of the assets. The analysis will be performed at the asset or asset
category with the reference to the assets&rsquo; conditions, current technologies, market, and future plan of usage and the useful
lives of major competitors.</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: 25.3pt">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: 25.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 25.3pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 25.3pt">In 2013, the Company decided to relocate
a majority of Chongqing&rsquo;s polysilicon assets to Xinjiang. As part of the decision to make significant investment to relocate
the assets, the Company revisited the expectation as to the useful lives of these assets. Based on this review, the Company determined
that the condition of its major assets, having now been in operations for a meaningful percentage of the original estimated lives,
were in better condition, than the original useful life expectation had predicted, accordingly, the Company with the assistant
of an independent valuation firm reassessed the remaining economic useful life of the polysilicon assets in both Chongqing and
Xinjiang. The analysis was completed in the first quarter of 2014. Therefore, the Company revised the estimates of expected useful
lives of long-lived assets from January 1, 2014. The useful lives of machinery and equipment were expended from 10 years to 15
years, while buildings and structures were expended from 20 years to 30 years. No changes were made to furniture, fixtures and
equipment, or motor vehicles. During the years ended December 31, 2014 and 2015, the change in useful lives reduced depreciation
expense of approximately $18.7 million and $18.7 million, a majority of which was recorded in &quot;Total cost of revenues&quot;,
accordingly the impact on net income and basic net income per share are $18.7 million and $0.09 per ordinary share, and $18.7
million and $0.07 per ordinary share, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 25.3pt">&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 Group 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, 2013, 2014 and 2015 was $nil, $1,960,259 and $2,825,879 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 $781,706, $628,052 and $595,716, for the years ended December&nbsp;31,
2013, 2014 and 2015, 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">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.</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"><FONT STYLE="font-size: 10pt">During each
of the three year ended December 31, 2013, 2014 and 2015, the impairment changes were $158,424,827, $nil, and $1,622,588, respectively.
The impairment loss incurred during the year ended December 31, 2013 was related to the buildings and plant of polysilicon asset
group 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. The impairment loss of $1.6 million incurred during the year ended December 31, 2015 was
related to the </FONT>identified relocation assets in Chongqing that were not transferrable and could not be reutilized by its
Xinjiang expansion project. Please refer to Note 3 for further information.&nbsp;</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-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, 2013,
2014 AND 2015</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"><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"></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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group also provides OEM services to customers,
such as the provision of service to process polysilicon into ingots and wafers. The Group 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. Cost of revenues does not include
shipping and handling expenses, therefore the Group's cost of revenues may not be comparable to other companies which include
such expense in their costs of 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 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 $1,901,384, $2,054,786
and $2,708,962, respectively for the years ended December&nbsp;31, 2013, 2014 and 2015.</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: 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, 2014 and 2015, the Group 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;&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, 2013, 2014 and 2015 were $5,249,788, $926,173 and $3,578,865, respectively.&nbsp;For government grants related
to assets are recorded as long term liabilities and amortized on a straight-line basis over the useful life of the associated asset
as an offset to depreciation expense. The Group received government grants related to assets of $1,172,160, $113,735 and $690,889
during the years ended December&nbsp;31, 2013, 2014 and 2015, 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 0pt 23pt"><B><I>(q) Income taxes</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">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 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"><B></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, 2013,
2014 AND 2015</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 consolidated 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 or cost of sales, depending on the job functions of the grantees. For the years ended December&nbsp;31,
2013, 2014 and 2015, the Group recognized share-based compensation expense of $1,881,401, $1,792,819 and $3,687,951, 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">2013</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">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="width: 10%; text-align: right">1,743,768</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,544,078</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,323,948</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Research and development expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60,987</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Cost of sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">76,646</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">236,431</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">364,003</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,881,401</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,792,819</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,687,951</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;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>(s) (Loss) earnings 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">Basic (loss) earnings per ordinary share
are computed by dividing the net (loss) net income 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: 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"><B></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, 2013,
2014 AND 2015</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">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.</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 Company 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 $24,356,970 and $30,891,550 as of December&nbsp;31, 2014 and 2015, 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</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 (Loss) Income as required by new accounting guidance, which we retrospectively adopted during 2012.
As of December 31 2014 and 2015, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation
adjustments.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;&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"><B></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, 2013,
2014 AND 2015</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 Group 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%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 92%; padding-right: 0.8pt"><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%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 92%; padding-right: 0.8pt"><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%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 3%; padding-right: 0.8pt"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 92%; padding-right: 0.8pt"><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 bank 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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The fair values of the Group&rsquo;s plant
and equipment and long-term bank borrowings as of December&nbsp;31, 2014 and 2015 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: 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"><B></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, 20112,
2014 AND 2015</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>(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 Group 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 Group 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 Group'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 Group classified the ownership interest
in the consolidated entity held by a party other than the Group 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. Xinjiang Daqo Investment's equity interests in Xinjiang Daqo
are presented as a noncontrolling interest as of December 31, 2015. The non-controlling interest was $1,302,027 as of December
31, 2015.</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>(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, 2013, 2014 and 2015, the Company repurchased nil, nil and 2,356,900 shares for a total purchase price of nil, nil
and $1,350,164. 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"><I>&nbsp;</I></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">On August 27, 2014, the FASB issued ASU 2015-15,
which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial
statements. The new standard requires management to perform interim and annual assessments of an entity&rsquo;s ability to continue
as a going concern within one year of the date of issuance of the entity&rsquo;s financial statements (or within one year after
the date on which the financial statements are available to be issued, when applicable). Further, an entity must provide certain
disclosures if there is &ldquo;substantial doubt about the entity&rsquo;s ability to continue as a going concern.&rdquo; The ASU
is effective for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The
Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.</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 May 2014, the FASB issued a new pronouncement
which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters
into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance
contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition,
and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition&mdash;Construction-Type
and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of
nonfinancial assets that are not in a contract with a customer (e.g. assets within the scope of Topic 360, Property, Plant, and
Equipment, and intangible assets within the scope of Topic 350, Intangibles&mdash;Goodwill and Other) are amended to be consistent
with the guidance on recognition and measurement (including the constraint on revenue) in this ASU.</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 core principle of the guidance is that
an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects
the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle,
an entity should apply the following steps:</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">Step 1: Identify the contract(s) with a customer.</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">Step 2: Identify the performance obligations
in the contract.</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">Step 3: Determine the transaction price.</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">Step 4: Allocate the transaction price to
the performance obligations in the contract.</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">Step 5: Recognize revenue when (or as) the
entity satisfies a performance obligation.</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">For a public entity, the amendments in this
ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting
period. Early application is not permitted. An entity should apply the amendments in this ASU using one of the following two methods:</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">1. Retrospectively to each prior reporting
period presented and the entity may elect any of the following practical expedients:</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">For completed contracts, an entity need not
restate contracts that begin and end within the same annual reporting period.</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>

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<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-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-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</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"><B></B>&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">For completed contracts that have variable
consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration
amounts in the comparative reporting periods.</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">For all reporting periods presented before
the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance
obligations and an explanation of when the entity expects to recognize that amount as revenue.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">2. Retrospectively with the cumulative effect
of initially applying this ASU recognized at the date of initial application. If an entity elects this transition method it also
should provide the additional disclosures in reporting periods that include the date of initial application of:</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 amount by which each financial statement
line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect
before the change.</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 is in the process of evaluating
the impact on its consolidated financial statements upon adoption.</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"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
January 2015, the FASB issued a new pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. This ASU
required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or
transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification
as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required
to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement,
net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either
present or disclose earnings-per-share data applicable to the extraordinary item. This ASU will also align more closely U.S. GAAP
income statement presentation guidance with IAS 1, Presentation of Financial Statements, which prohibits the presentation and disclosure
of extraordinary items. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years,
beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply
the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided
that the guidance is applied from the beginning of the fiscal year of adoption.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Group has already considered the impact on its consolidated financial statements as of December 31, 2015.</FONT></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 July 2015, the FASB issued a new pronouncement
Inventory (Topic 330): Simplifying the Measurement of Inventory. The current guidance requires an entity to measure inventory at
the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately
normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory
method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO)
or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value
is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal,
and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. For public
business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within
those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an
interim or annual reporting period. The Group is in the process of evaluating the impact on its consolidated financial statements
upon adoption.</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 November, 2015, the FASB issued a new
pronouncement which changes how deferred taxes are classified on organizations&rsquo; balance sheets. The ASU eliminates the current
requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance
sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The amendments
apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial
statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier
application is permitted for all entities as of the beginning of an interim or annual reporting period. The Group is in the process
of evaluating the impact on its consolidated financial statements upon adoption.</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>

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<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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></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, 2013,
2014 AND 2015</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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">In January, 2016, the FASB issued a new pronouncement
which is intended to improve the recognition and measurement of financial instruments. The ASU affects public and private companies,
not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities.</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 new guidance makes targeted improvements
to existing U.S. GAAP by:</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">&bull;&#9;Requiring equity investments (except
those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured
at fair value with changes in fair value recognized in net income;</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">&bull;&#9;Requiring public business entities
to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes;</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">&bull;&#9;Requiring separate presentation
of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and
receivables) on the balance sheet or the accompanying notes to the financial statements;</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">&bull;&#9;Eliminating the requirement to
disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;</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">&bull;&#9;Eliminating the requirement for
public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required
to be disclosed for financial instruments measured at amortized cost on the balance sheet; and</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">&#9;&bull; Requiring a reporting
organization to present separately in other comprehensive income the portion of the total change in the fair value of a
liability resulting from a change in the instrument-specific credit risk (also referred to as &ldquo;own credit&rdquo;) when
the organization has elected to measure the liability at fair value in accordance with the fair value option for financial
instruments.</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">The new guidance is effective for public
companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance
permits early adoption of the own credit provision. The Group is in the process of evaluating the impact on its consolidated financial
statements upon adoption.</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: 0.25in">On March 30, 2016, the FASB issued&nbsp;ASU
2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic
entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification
in the statement of cash flows. The new guidance, which is part of the Board&rsquo;s simplification initiative,&nbsp;also contains
two practical expedients under which nonpublic entities can use the simplified method&nbsp;to estimate the expected term of an
award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified
awardswhich nonpublic entities can use the simplified method&nbsp;to estimate the expected term of an award and make a one-time
election to switch from fair value measurement to intrinsic value measurement for liability-classified awards.</P>

<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-indent: 0.25in">In the period of adoption, entities are
required to disclose:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The nature of and reason for the changes in accounting principle; 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Any cumulative effects of the changes on retained earnings or other components of equity as of the date of adoption.</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: 0.25in">In addition, because the change in presentation
in the statement of cash flows related to excess tax benefits can be applied either prospectively or retrospectively, entities
are required to disclose either (1) &ldquo;that prior periods have not been adjusted&rdquo; if the change is applied prospectively
or (2) the &ldquo;effect of the change on prior periods retrospectively adjusted&rdquo; if the change is applied retrospectively.
For the change in presentation in the statement of cash flows related to statutory tax withholding requirements, entities are required
to disclose the &ldquo;effect of the change on prior periods retrospectively adjusted.</P>

<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-indent: 0.25in">For public business entities, the ASU is
effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting
periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued
or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that apply must be adopted
in the same period. In addition, if early adoption is elected in an interim period, any adjustments should be reflected as of the
beginning of the annual period that includes that interim period. The Group is in the process of evaluating the impact on its consolidated
financial statements upon adoption.</P>

<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-indent: 23pt"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></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, 2013,
2014 AND 2015</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"><B>&nbsp;&nbsp;</B></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 0pt 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>Relocation of Polysilicon Operations to Xinjiang</I></B></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; text-indent: 23pt">Starting 2013, the Group commenced 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 Group 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 Polysilicon
Phase II Expansion Project plan. Therefore, the Group recorded an impairment charge of $158.4 million in connection with this decision
in the second quarter of 2013 and subsequently terminated its lease arrangement with Daqo New Material on December 30, 2013. As
of December 31, 2013, the Group has incurred approximately $0.8 million in employee termination costs and $0.5 million in connection
with relocation costs, all of which were recorded in selling, general and administrative expenses.</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 2014, the Board of Directors approved
the Company to launch an early stage research for the Polysilicon Phase III Expansion Project in Xinjiang. After a comprehensive
analysis of the capacity and comparability of the Chongqing machinery and equipment, the Company concluded that it would be more
efficient to use part of the machinery and equipment in Phrase III, rather than using all of them in Phrase II Expansion Project.
As a result, the Company has changed its original relocation plan and determined to utilize a portion of these equipment and machinery
in Polysilicon Phase III Expansion Project in Xinjiang.</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">As of December 31, 2014, about $46.1 million
(equivalently RMB 286.4 million) of $116.1 million (equivalently RMB720.5 million) of the machinery and equipment have been relocated
from Chongqing Daqo to its Xinjiang plant for Polysilicon Phase II Expansion Project, which is expected to be fully ramp up by
the end of the second quarter of 2015. The Company expects to complete the Polysilicon Phase III Expansion Project by early 2017,
and the remaining machinery and equipment of $70.0 million (equivalently RMB434.1 million) will be relocated from Chongqing to
Xinjiang then. The change to the original relocation plan indicated that the carrying amount of the remaining machinery and equipment
of $70.0 million may not be recoverable as of December 31, 2014. The Group with the assistant of an independent valuation firm
performed the recoverability testing. As a result, the Group concluded that the estimated sum of the undiscounted cash flows expected
to be generated from the use and eventual disposition of the polysilicon group were in substantial excess of the carrying amount,
and no impairment was noted as of December 31, 2014.</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">During the year ended December 31, 2014,
additional $0.8 million relocation cost occurred, which was recorded in selling, general and administrative expenses. No material
liabilities, including contract termination costs, are recorded in connection with this relocation plan as of December 31, 2014.</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">As originally planned, the Group has fully
ramp up its Polysilicon Phase II Expansion Project since August 2015, and then the capacity of Xinjiang Daqo is increased from
6,150MT to 12,150MT. Additionally, in July 2015, the Board of Directors approved the first stage of Phase III Expansion Project,
which is expected to increase the capacity from 12,150 MT to 18,000 MT. The Company plans to commence initial production and fully
ramp up this expansion project by the first quarter and second quarter of 2017 respectively. Construction and equipment installation
is expected to be completed by the end of 2016. In 2015, the Group has already started initial work, including but not limited
to applications for relevant government permits and approvals.</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">As a significant part of Phase III Expansion
Project in Xinjiang, the Group is in the process of relocating and repurposing the remaining polysilicon machinery and equipment
in Chongqing of $59.1 million (equivalently RMB383.9 million). In November 2015, the Group together with a professional transport
company reviewed all the remaining assets for the relocation preparation under the Phase III Expansion Project. Along with the
complicated and comprehensive relocation preparation, the Group identified assets of $1.6 million that were not transferrable and
could not be reutilized by its Xinjiang expansion project. Accordingly, an impairment charge of $1.6 million was recognized as
of December 31, 2015. In late 2015, the polysilicon machinery and equipment in Chongqing of $1.1 million (equivalently RMB7.0 million)
was relocated from Chongqing to Xinjiang. To keep these machinery and equipment in good condition in Chongqing, the Company is
required to spend approximately $0.3 million on a quarterly basis, including $0.2 million wages and $0.1 million electricity fees.
The Company believe that the remaining polysilicon machinery and equipment in Chongqing will be gradually relocated and incorporated
in the expansion project in Xinjiang during 2016.</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"></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-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-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</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"><B></B>&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">During the year ended December 31, 2015,
additional $0.1 million relocation cost occurred, which was recorded in selling, general and administrative expenses. No material
liabilities, including contract termination costs, are recorded in connection with this relocation plan as of December 31, 2015,
and the Company expects to incur additional costs of $2.2 million in relocating the equipment.</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"><B>4. FOLLOW-ON EQUITY OFFERING</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: 22.95pt">In May 2014, the Company issued and sold
2,000,000 America depositary shares (&quot;ADSs&quot;), representing 50,000,000 ordinary shares, through a follow-on equity offering.
The proceeds, net of issuance cost of $3.4 million, were $54.6 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.95pt">&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; text-indent: 22.95pt">In February 2015, the Company issued 1,540,000
America depositary shares (&quot;ADSs&quot;), representing 38,500,000 ordinary shares, through a follow-on public offering. The
proceeds, net of issuance cost of $2.0 million, were $28.0 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.95pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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>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, 2013,
2014 AND 2015</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: 22.95pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;<B>5. 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 Group made provisions for doubtful accounts
receivables in the aggregate amount of $5,482,019 during the year ended December 31, 2013. The Group reversed provision for doubtful
accounts receivables in the aggregate amount of $3,823,744 and $2,026,567 during the year ended 2014 and 2015 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><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"><B>&nbsp;</B>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 96%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.27in">
<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">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left; padding-left: 0in">Beginning of the year</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,592,467</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,160,782</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,189,110</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0in">Allowances (Reversal) during the year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,482,019</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,823,744</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,026,567</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0in">Foreign exchange effect</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">86,296</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(147,928</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(75,078</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 0in">Closing balance</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,160,782</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,189,110</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,087,465</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;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">As of December 31, 2013, the Group provided
full allowance for certain long aging receivables based on available information on the customer's deteriorated credit risks and
poor financial performance. Along with the recovery of solar industry and continued legal actions, the Group was able to collect
payments on these receivable, as such, allowance of $3,823,744 and $2,026,567 previously recorded have been reversed in 2014 and
2015 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></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"><B></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, 2013,
2014 AND 2015</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>6. 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-left: 0.28in; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="width: 12%; text-align: right">6,385,388</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">6,052,315</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">5,857,017</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,552,772</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">226,564</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">347,631</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">366,900</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">282,423</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">12,835,869</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">12,235,141</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: 23pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>7. INVENTORIES</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 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="margin-left: 0.28in; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="width: 12%; text-align: right">1,362,944</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">2,343,104</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">5,411,360</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,626,531</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Finished goods&#9;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,807,480</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">2,746,304</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,581,784</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,715,939</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;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">&nbsp;Inventory write-down was $29,905,734,
$175,568 and $62,422 for the years ended December 31, 2013, 2014 and 2015, respectively.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>8. 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="margin-left: 0.28in; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="width: 12%; text-align: right">233,230,935</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">313,290,516</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">351,409,724</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">389,373,554</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">18,469,913</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,418,768</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">257,408</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">293,331</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">(169,264,463</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">(188,680,279</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="text-align: right">434,103,517</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">536,695,889</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">124,902,602</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">7,630,236</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: normal; text-align: left; font-style: normal">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">559,006,119</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: normal; text-align: left; font-style: normal">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">544,326,125</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: 23pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Depreciation expense was $52,250,595 , $28,007,943
and $31,361,026 for the years ended December 31, 2013, 2014 and 2015, 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 Company recognized impairments for long-lived
assets of $158,424,827 , $nil and $1,622,588 during the years ended December 31, 2013, 2014 and 2015, 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"></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-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, 2013,
2014 AND 2015</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>9. 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="margin-left: 0.28in; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="width: 12%; text-align: right">90,443,007</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">72,360,730</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; text-indent: -10pt; padding-left: 10pt">Long-term bank borrowings, 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">69,360,869</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">51,576,265</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">159,803,876</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123,936,995</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">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">77,336,160</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">118,548,430</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">237,140,036</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">242,485,425</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: 0">&nbsp;<B>Short-term bank 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 short-term bank borrowing
consisted of the following:</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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-left: 0.28in; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Short-term bank borrowing guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xiang Xu </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">27,389,890</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</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="text-align: left; padding-left: 0in">Short-term borrowing guaranteed by Daqo Group and related parties </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">72,360,730</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in">Short-term borrowing guaranteed by Daqo Group and a third party </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,278,190</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: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0in">Short-term credit bank borrowings</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">51,774,927</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(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in">&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; 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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">90,443,007</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">72,360,730</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"></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group had available credit of $22.6 million
under its short-term bank facilities with various banks as of December 31, 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-align: justify; text-indent: 23pt">The weight average interest
rate on the short-term bank borrowing was 6.8% and 5.4% as of December&nbsp;31, 2014 and 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"><B>Long-term bank 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 long-term bank borrowings, including
current portion, as of December&nbsp;31, 2014 and 2015 are comprised of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-left: 0.28in; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 96%">
<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; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Borrowing from China Construction Bank</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">6,444,680</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</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="text-align: left; text-indent: -10pt; padding-left: 10pt">Borrowing from Huaxia Bank</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,778,720</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,079,180</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Borrowing from Bank of China</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101,503,710</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70,821,140</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">Borrowing from Chongqing Rural Commercial Bank</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,969,919</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">96,224,375</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">&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><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.75pt 0pt 10pt; text-indent: -10pt"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.75pt 0pt 10pt; text-indent: -10pt"><B>Total</B></P></TD><TD><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><B>146,697,029</B></TD><TD STYLE="text-align: left"><B>&nbsp;</B></TD><TD><B>&nbsp;</B></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><B>$</B></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><B>170,124,695</B></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">&nbsp;</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"><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>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, 2013,
2014 AND 2015</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: 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 $61.6&nbsp;million
(RMB400 million). Chongqing Daqo drew down $58.5 million (RMB380 million), including: $20.0 million (RMB130 million) with fixed
interest rate of 6.65%, which is designated for working capital and $38.5 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 $3.1 million (RMB20 million)
through use of bank acceptance notes. As of December 31, 2015, Chongqing Daqo had repaid 55.4 million (RMB360 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 amounting to $8.1 million as of December 31, 2015. The facility contains a financial covenant,
and Chongqing Daqo was in compliance as of December 31, 2015.</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-align: justify; text-indent: 23pt">On September&nbsp;30,
2011, Xinjiang Daqo entered into a six-year long term facility agreement with Bank of China. Such borrowing is restricted to the
purchase of fixed assets and has a maximum borrowing credit amounted to $115.5&nbsp;million (RMB750 million), bearing interest
at standard five-year long term interest rate issued by People&rsquo;s Bank of China plus 5%. The borrowing is guaranteed by Daqo
Group, Daqo New Material, two affiliated companies under Daqo Group and Mr.&nbsp;Guangfu Xu. On June 30, 2014, an amendment to
this credit facility was signed between Xinjiang Daqo and Bank of China, under which machinery and equipment with a total carrying
amount of $73.9 million was pledged as collaterals for this credit facility. As of December&nbsp;31, 2015, Xinjiang Daqo had drawn
down $115.5&nbsp;million (RMB750 million) at an interest rate of 5.41% and repaid $44.6 million (RMB290 million) as of December
31, 2015. No facility is available for further draw down as of December 31, 2015. The borrowing contains a financial covenant,
and Xinjiang Daqo was in compliance as of December 31, 2015.</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 June&nbsp;25, 2015, Xinjiang Daqo entered
into a six-year long term facility agreement with Chongqing Rural Commercial Bank. Such borrowing is restricted to renovation and
extension project of polysilicon and has a maximum borrowing credit amounted to $96.2&nbsp;million (RMB625 million), with an interest
rate 20% above the five-year long term interest rate issued by People&rsquo;s Bank of China. The borrowing is guaranteed by Daqo
Group and four affiliated companies under Daqo Group. As of December&nbsp;31, 2015, Xinjiang Daqo had drawn down $96.2&nbsp;million
(RMB625 million) at an interest rate of 5.8% and had no facility available for future draw down. There is no financial covenants
associated with the facility.</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;&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></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, 2013,
2014 AND 2015</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;&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, 2014 and 2015 for the Group&rsquo;s long-term bank borrowings was 6.9% and 5.7%, 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">The principal maturities of these long-term
bank borrowings as of December 31, 2015 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: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.3in">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: none; padding-left: 0in; border-bottom: Black 1pt solid">December&nbsp;31, 2015</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount</B></FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 85%; text-align: left; padding-left: -0.375in">2016</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">51,576,265</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0in">2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,885,650</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in">2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,475,080</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0in">2019</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,475,080</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in">2020</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,475,080</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0in; padding-bottom: 1pt">2021</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">9,237,540</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-left: 0in; text-align: left; padding-bottom: 2.5pt">Total </TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">170,124,695</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: 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"><B>10. 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: 23pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.27in">
<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; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</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; border-bottom: Black 1pt solid; text-align: center">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 10pt">Accrued payroll and welfare</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">3,309,850</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">3,524,876</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">Accrued professional fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">576,786</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">776,518</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Other tax payables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,263,055</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,298,780</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">Interest payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">148,995</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,054</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Contingent liability (Note 18)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">400,000</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: 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">2,256,977</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">1,978,603</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,955,663</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,616,831</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;&nbsp;</P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></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"><B></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, 2013,
2014 AND 2015</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>11. 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 term and short term portion respectively:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.27in">
<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; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 66%; text-align: left; text-indent: -10pt; padding-left: 10pt">Customer E</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">8,041,836</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">3,237,308</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 F</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,405,619</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,517,402</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer I</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">1,539,590</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 L</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">781,342</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">262,636</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">1,107,734</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,710,202</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,183,376</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">Less: Current portion of advances from customers</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">7,308,535</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">8,183,376</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&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 advances from customers</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,401,667</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">&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"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>12. 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"><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>

<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>

<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="18" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2015</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; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Carrying<BR> amount</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; padding-bottom: 1pt">Quoted&nbsp;Prices&nbsp;in<BR> Active Markets<BR> for Identical<BR> Assets (Level 1)</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; padding-bottom: 1pt">Significant<BR> Other<BR> Observable<BR> Inputs&nbsp;(Level&nbsp;2)</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; padding-bottom: 1pt">Significant<BR> Unobservable<BR> Inputs&nbsp;(Level&nbsp;3)</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; padding-bottom: 1pt; text-align: center">Total&nbsp;Losses</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; padding-bottom: 2.5pt; padding-left: 0.125in; text-indent: -0.125in">Property, plant and equipment &ndash; identified untransferrable relocation assets </TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">1,622,588</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</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">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</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">1,622,588</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 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"><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>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, 2013,
2014 AND 2015</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"></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: 21.3pt">During the year ended December 31, 2014,
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. Along with the complicated and comprehensive relocation
preparation for the remaining assets in Chongqing, the Company together with a professional transport company identified the assets
with a carrying amount of $1.6 million that were not transferrable and could not be reutilized by its Xinjiang expansion project,
and these assets were written down to their fair value of zero, which was closed to their salvage value, as of December 31, 2015.
Therefore there was an impairment charge of $1.6 million in 2015. See Note 3, &ldquo;Relocation of Polysilicon Operations to Xinjiang&rdquo;
for further details.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>13. 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, 2013, 2014 and 2015, the Group recognized
$3,142,213, $3,130,308 and $4,087,334 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 and Restricted 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">Foreign invested enterprises in PRC are required
under PRC laws to distribute its after-tax profits of the current year and draw 10 percent of the profits as the company's statutory
common reserve. The company may stop drawing the profits if the aggregate balance of the common reserves has already accounted
for over 50 percent of the company's registered capital. The common reserves shall be used for making up losses, expanding the
production and business scale or increasing the registered capital of the company. As of December 31, 2013, 2014 and 2015, the
Group's aggregate balance of the statutory common reserves was $16,803,191, $20,190,729 and $17,720,748 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 accordance with relevant PRC laws and
regulations, the Group&rsquo;s PRC subsidiaries are prohibited to make distribution of their registered capital and statutory
reserves in the form of cash dividends, loans or advances and the relating restricted portion amounted to $213,794,097 as of December
31, 2015.&nbsp;</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"><B></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, 2013,
2014 AND 2015</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>14. 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is incorporated in the Cayman Islands and is not subject to tax in this jurisdiction.</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
year 2015, the Company received deemed dividend distribution of $1.1 million from its subsidiary Xinjiang Daqo as a result of
its restructuring for the potential listing on the New Third Board in PRC. In accordance with the tax laws and regulations of
the PRC, the Company paid the income tax of $0.1 million to the relevant PRC tax bureau.</FONT></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>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. On November 10,
2015, Chongqing Daqo renewed the HTNE certificate for a valid period of 3 years till 2018. During the years ended December 31,
2014 and 2015, 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 two years ended December&nbsp;31, 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">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. On November 25, 2014, Xin Jiang Daqo was entitled
to a preferential tax rate of 15%, because of the obtainment of a High and New Technology Enterprise (&ldquo;HTNE&rdquo;) certificate
for a valid period of 3 years till 2016.</P>

<P STYLE="font: 10pt Times New 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 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 31, 2015, therefore, no provision for PRC dividend withholding tax has been provided thereon.&nbsp;</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"><B></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, 2013,
2014 AND 2015</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, 2014 and 2015. 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 2014, 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, 2013, 2014 and 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: 23pt">Income tax expenses comprise:</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" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 85%; 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">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left; text-indent: -10pt; padding-left: 10pt">Current Tax (Benefit) Expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(162,621</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> &mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,786,092</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt">Deferred Tax Expenses (Benefit)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,434,386</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(648,271</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt">Total</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">1,271,765</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">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">&mdash;</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">1,137,821</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: 23pt"></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">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="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%; margin-left: 0.5in">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="width: 12%; text-align: right">27,349,606</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">22,549,975</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">Inventory write-down</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,141</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(204,238,255)">
    <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">478,367</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">163,120</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">Government grants related to assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">498,582</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">166,922</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Long-lived asset impairment&amp;depreciation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,009,037</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,624,021</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">Others</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">748,018</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">485,776</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Sub-total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">50,109,751</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">42,989,814</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; 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">(50,109,751</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">(42,362,849</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">626,965</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 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: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Current</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>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">626,965</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The changes of valuation allowance
are 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; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<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">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left; text-indent: -10pt; padding-left: 10pt">Beginning balance</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">37,682,733</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">56,633,867</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">50,109,751</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">Additions (Reversal)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,697,096</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,168,917</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,708,268</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Deconsolidation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(39,357,744</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">-</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">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">1,611,782</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">(1,355,199</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">(2,038,634</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Ending 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">56,633,867</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">50,109,751</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">42,362,849</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>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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></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, 2013,
2014 AND 2015</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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">&nbsp;The Group uses the asset and liability
method to record related deferred tax assets and liabilities. The Group considers positive and negative evidence to determine whether
some portion or all of the deferred tax assets will more likely than not be realized. This assessment considers, among other matters,
the nature, frequency and severity of operating losses, forecasts of future profitability, the duration of statutory carry forward
periods, the Group&rsquo;s experience with tax attributes expiring unused and tax planning alternatives. Valuation allowances have
been established for deferred tax assets based on a more likely than not threshold. 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.</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 considers positive and negative
evidences to determine whether some portion or all of the deferred tax assets will be more likely than not realized. This assessment
considers, among other matters, the nature, frequency and severity of recent losses and forecasts of future profitability. These
assumptions require significant judgement and the forecasts of future taxable income are consistent with the plans and estimates
the Group is using to manage the underlying businesses. Valuation allowances are established for deferred tax assets based on
a more likely than not threshold. The Group's ability to realize deferred tax assets depends on its ability to generate sufficient
taxable income within the carry forward periods provided for in the tax law. The Group has provided a full valuation allowance
for the deferred tax assets relating to Chongqing Daqo as of December 31, 2014 and December 2015 in the amount of $50,109,751
and $42,362,849, respectively, as management is not able to conclude that the future realization of those net operating loss carry
forwards and other deferred tax assets are more likely than not. As of December 31, 2015, the Group has a total operating loss
carry forwards which is entirely relating to Chongqing Daqo, of $90.2 million. These operating loss carryforwards are expected
to be expired from 2017 to 2021.</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 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">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; text-align: left; padding-left: 0in">PRC Enterprise Income Tax </TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; 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: 10%; 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: 10%; 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: 0in">Preferential income tax rate of a subsidiary </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">(9</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></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in">Effect of different reversal rate </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</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: White">
    <TD STYLE="text-align: left; padding-left: 0in">Additional tax deductions </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">(8</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in">Different tax rate in other jurisdictions </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">6</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></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0in">Changes in valuation allowance </TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26</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">(3</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in">Tax credits </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">(15</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: 0in; padding-bottom: 1pt">Withhold tax</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1</TD><TD STYLE="text-align: left; padding-bottom: 1pt">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0in; padding-bottom: 2.5pt">Effective tax rate </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">(1</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">)%</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">&mdash;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">%</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">7</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; 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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Xinjiang Daqo and Chongqing Daqo enjoy the
preferential tax rate of 15%, which may be extended if the requirements of High and New Technology Enterprise are satisfied. The
impact of the preferential tax rates decreased income taxes by $nil, $3.0 and $ 1.2 million for the years of 2013, 2014 and 2015,
respectively. The benefit on net income per share was $nil, $ 0.01 and $0.01 for the years of 2013, 2014 and 2015, respectively.</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>15. 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">In December 2014, The Company&rsquo;s shareholders
adopted the 2014 share incentive plan. The Company&rsquo;s shareholders have authorized the issuance of up to 21,000,000 ordinary
shares underlying all options (including incentive share options, or ISOs), restricted shares and restricted share units granted
to a participant under the plan, or the awards.</P>

<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"><P STYLE="margin: 0pt">&nbsp;</P></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"><B></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, 2013,
2014 AND 2015</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"></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">During the years ended December&nbsp;31,
2013, 2014 and 2015, the Company granted 140,000, 6,274,166 and 8,134,375 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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">On January 12, 2015, the Company granted
options to acquire 600,000 ordinary shares to independent directors of the Company pursuant to the Option Plan. Twenty-five percent
(25%) of the options will vest half- year following the service inception date, twenty-five percent (25%) of the options will vest
on the second half year of service inception date, and the remaining forty percent (50%) of the options will vest in twenty-four
equal installments over the next two years. The exercise price is $0.87.</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 12, 2015, the Company granted
options to acquire 6,534,375 ordinary shares to employees and executive officers of the Company pursuant to the Option Plan. Twenty-five
percent (25%) of the options will vest half- year following the service inception date, twenty-five percent (25%) of the options
will vest on the second half year of service inception date, and the remaining forty percent (50%) of the options will vest in
thirty-six equal installments over the next three years. The exercise price is $0.87.</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 12, 2015, the Company modified
the exercise price to $0.87 for a total number of 6,274,166 previously granted options, in order to provide appropriate incentives
to the relevant employees and executive officers of the Group. The fair value of the options under revised terms was $0.55 and
$0.52. The total incremental cost associated with the modification was $241,557, of which $60,107 was recognized immediately for
the options vested prior to the date of the modification and the remaining share-based compensation charges of $181,470 will be
recognized over a weighted-average period of 2.91 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 July 06, 2015, the Company granted options
to acquire 1,000,000 ordinary shares to executive officers of the Company pursuant to the Option Plan. Twenty-five percent (25%)
of the options will vest half- year following the service inception date, twenty-five percent (25%) of the options will vest on
the second half year of service inception date, and the remaining forty percent (50%) of the options will vest in twenty-four equal
installments over the next three years. The exercise price is $0.84.</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 09, 2015, the Company modified
the exercise price for a total number of 12,569,166 options granted before to $0.59, 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 five batches
granted on Jan 28, 2014, Jan 12, 2015 and July 06, 2015 was $0.38, $0.35, $0.38, $0.37 and $0.40, respectively. The total incremental
cost associated with the modification was $282,581, of which $123,322 was recognized immediately for the options vested prior to
the date of the modification and the remaining share-based compensation charges of $159,259 will be recognized over a weighted-average
period of 2.85 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">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: 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: 90%; 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&nbsp;31, 2013</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Options granted</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<BR> risk-free<BR> rate of<BR> return</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Exercise<BR> multiple</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Volatility<BR> rate</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Dividend<BR> yield</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Post-<BR> vesting<BR> forfeiture<BR> rate</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 31%; font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt">April 3, 2013</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: center">2.29%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">2.8 times</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: center">51.78%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: center">0%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: center">3%</TD>
    <TD STYLE="width: 1%">&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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" 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="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31, 2014</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(204,238,255)">
    <TD STYLE="width: 31%; text-indent: -10pt; padding-left: 10pt">January 28, 2014</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">2.77%</TD><TD STYLE="width: 1%; text-align: center"></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 14%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.0-3.5 times</FONT></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">93.0%</TD><TD STYLE="width: 1%; text-align: center"></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">0%</TD><TD STYLE="width: 1%; text-align: center"></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3-9.5</FONT>%</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: 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">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" 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="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year Ended December&nbsp;31, 2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Options<BR>
 granted</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Average</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>risk-free</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>rate of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>return</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exercise</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>multiple</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Volatility</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>rate</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Dividend</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>yield</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Post-</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>vesting</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>forfeiture</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>rate</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 31%; text-align: left; padding-left: 0">January 12, 2015</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">2.82%</TD><TD STYLE="width: 1%; text-align: center"></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 14%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.8-3 times</FONT></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">93.0%</TD><TD STYLE="width: 1%; text-align: center"></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">0%</TD><TD STYLE="width: 1%; text-align: center"></TD><TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 10%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5%-8</FONT>%</TD><TD STYLE="width: 1%; text-align: center"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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"></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">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0">July 06, 2015</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">3.20%</TD><TD STYLE="text-align: center"></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">3 times</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">91.0%</TD><TD STYLE="text-align: center"></TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">0%</TD><TD STYLE="text-align: center"></TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">5%</TD><TD STYLE="text-align: center"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0">September 09, 2015</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.94%-3.08</FONT>%</TD><TD STYLE="text-align: center"></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">1.8-3 times</FONT></TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">91.0%-92.0</FONT>%</TD><TD STYLE="text-align: center"></TD><TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">0%</TD><TD STYLE="text-align: center"></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">5%-8%</FONT></TD><TD STYLE="text-align: left"></TD></TR>
</TABLE>

<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-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 Estimation.</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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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>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, 2013,
2014 AND 2015</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: 23pt">&nbsp;&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, 2015 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" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number&nbsp;of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Options</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Weighted</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Average</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exercise</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Price</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Weighted</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Average</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Remaining</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Contract&nbsp;Life</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Aggregate</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Intrinsic</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Value</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-indent: -10pt; padding-left: 10pt">Options outstanding on January&nbsp;1, 2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">12,375,416</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">0.87</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">&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: 10%; 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="text-indent: 10.7pt; padding-left: 0in">Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,134,375</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.59</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(204,238,255)">
    <TD STYLE="text-indent: 10.7pt; padding-left: 0in">Forfeited</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,307,743</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.56</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-indent: 10.7pt; padding-left: 0in">Expired</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(557,882</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.59</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(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 10.7pt; padding-left: 0in">Exercised</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">(1,115,625</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">0.25</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><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; text-indent: -10pt; padding-left: 10pt">Options outstanding on December&nbsp;31, 2015</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">17,528,541</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">0.50</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">7.48</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">2,973,866</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Options vested or expected to vest on December&nbsp;31, 2015</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">12,978,233</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">0.40</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">6.12</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">3,499,985</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; text-indent: -10pt; padding-left: 10pt">Options exercisable on December&nbsp;31, 2015</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">9,965,138</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">0.42</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">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6.38</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">2,434,628</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;&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 $1,881,401, $1,792,819 and $3,687,951 was recognized by the Company for the years ended December&nbsp;31,
2013, 2014 and 2015, 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, 2013, 2014 and 2015 was $0.11, $0.98 and $0.59 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, 2015, there was
$ 5,279,522 in total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized
over a weighted-average period of 2.70 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-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</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; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>16. 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: 0.25in; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><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: 96%; border-collapse: collapse; margin-left: 0.25in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%">
        <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%; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="width: 49%">
        <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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Daqo Group</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Daqo Group and the Group are controlled by same</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">group of shareholders.</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Zhenjiang&nbsp;Daqo&nbsp;Solar&nbsp;Co.&nbsp;Ltd.(&ldquo;Zhenjiang&nbsp;Daqo)&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Daqo Solar Co. Ltd (&ldquo;Daqo Solar&rdquo;) </FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nanjing Daqo New Energy Co., Ltd.(&ldquo;Nanjing Daqo&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">An affiliated company which was 100% held by the Group before September 28, 2012 and is 100% held by Daqo Group since September 28, 2012</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><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; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Daqo New Material Co., Ltd. (&quot;Daqo New Material&quot;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">An affiliated company which is 100% held by Daqo</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Group, and was consolidated by the Company as VIE
        on</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">December 31, 2013</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chongqing Daqo Tailai Electric Co., Ltd. (&ldquo;Chongqing Daqo Tailai&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Nanjing Daqo Transformer Systems Co., Ltd. (&ldquo;Nanjing
        Daqo Transformer&rdquo;)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Jiangsu Daqo Changjiang Electric Co., Ltd. (&ldquo;Jiangsu Daqo&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nanjing Daqo Electric Co., Ltd. (&ldquo;Nanjing Daqo Electric&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Zhenjiang Klockner-Moeller Electrical Systems Co., Ltd. (&ldquo;Zhenjiang Moeller&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nanjing Intelligent Apparatus Co., Ltd. (&ldquo;Intelligent Apparatus&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Nanjing Intelligent Software Co., Ltd. (&ldquo;Intelligent Software&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Daqo Investment Co., Ltd. (&ldquo;Daqo Investment&rdquo;)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><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">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Shanghai Sailfar Electric Technology Co., Ltd. (&ldquo;Daqo
        Sailfar&rdquo;)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Jiangsu Daquan High Voltage Switchgear Co., Ltd.(
        &ldquo;Jiangsu Daquan High Voltage&rdquo;)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Jiangsu Daqo Kai-fan Electric Co., Ltd. ( &ldquo;Jiangsu
        Daqo Kai-fan&rdquo;)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Zhenjiang Electric Equipment Co., Ltd. ( &ldquo;Zhenjiang
        Electric&rdquo;)</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">An affiliated company which is 100% held by Daqo Group</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">An affiliated company which is 75% held by Daqo Group</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">An affiliated company which is 100% held by Daqo Group</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">An affiliated company which is 100% held by Daqo Group</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0; margin-bottom: 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 STYLE="width: 0.25in; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><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;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The balances due from related parties
mainly included the amount due from Zhenjiang Daqo for sales of wafer and polysilicon, and Daqo Group for the proceeds from deposition
consideration of Nanjing Daqo. 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: 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Amounts due from related parties</TD><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">$</TD><TD STYLE="width: 12%; text-align: right">4,551,846</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">229,989</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">5,110,085</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; 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">325,037</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">54,644</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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; 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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9,986,968</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">284,633</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;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">Interest free loans due to related parties
received primarily for working capital purposes from Daqo Solar, Xinjiang Daqo Investment and Daqo New Material, wholly-owned subsidiaries
of Daqo Group. The balances are payable on demand and are as follows:&#9;&#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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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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-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-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS&mdash;(Continued)</B></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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</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"><B></B>&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<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">2014</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">2015</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Amounts due to related parties</TD><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 Solar</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">54,275,617</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">37,390,575</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">23,104,709</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,146,054</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">Daqo New Material</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,950,746</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,563,165</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Chongqing Daqo Tailai</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,755,326</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144,102</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 Transformer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,595,659</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(204,238,255)">
    <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">1,339,128</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,758</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">Jiangsu Daqo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,200,018</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(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Nanjing Daqo Electric</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">742,747</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; 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">734,201</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">118,873</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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; 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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">89,698,151</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">46,396,527</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-indent: 0">* The remaining balance of amounts due to
related parties of $118,873 as of December 31, 2015 was comprised of Zhenjiang Moeller and Daqo Sailfar in the amount of
$107,771 and $11,102, respectively.</P>

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


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    <!-- 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"><B></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, 2013,
2014 AND 2015</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 0.8pt 0pt 0">The transactions with Daqo Group and its subsidiaries
were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Transaction</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 STYLE="font-weight: bold; padding-bottom: 1pt">Name of Related parties</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Nature</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><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">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%; text-align: left">Daqo Group</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 35%; text-align: left">Purchase-Fixed asset</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</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">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">486,948</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">&mdash;</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">Proceeds from interest free loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">813,105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,821,462</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,043,550</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Repayment of interest free loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">813,105</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,115,813</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,217,257</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Zhenjiang Daqo</TD><TD>&nbsp;</TD>
    <TD>Sales</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,471,866</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,554,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,111,239</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Daqo Solar</TD><TD>&nbsp;</TD>
    <TD>Sales</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">9,595,680</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">783,705</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">Proceeds from interest free loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">76,881,392</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157,241,390</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">127,060,826</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Repayment of interest free loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,379,678</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">166,231,092</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">151,990,672</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Nanjing Daqo</TD><TD>&nbsp;</TD>
    <TD>Sales</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">112</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(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Proceeds from interest free loans</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">973,898</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,456,861</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">Repayment of interest free loans</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">2,921,693</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,456,861</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Xinjiang Daqo Investment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Proceeds from interest free loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,389,643</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,367,234</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,946,700</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">Repayment of interest free loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,193,785</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">93,219,846</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73,252,506</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Daqo New Material</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Proceeds from interest free loans</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">7,729,501</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,082,241</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">Repayment of interest free loans</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">4,600,117</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,285,114</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Rental expense</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">1,071,287</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,050,661</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Chongqing Daqo Tailai</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Purchase-Fixed asset</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">2,724,790</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">375,528</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Purchase-Raw material</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">9,938</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">Income from disposal of fixed assets</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">6,458</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Proceeds from interest free loans</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">6,367,640</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">Repayment of interest free loans</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">6,367,640</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Others subsidiaries under Daqo Group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Proceeds from interest free loans</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">636</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>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Repayment of interest free loans</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">5,296</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Purchase-Fixed asset*</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157,742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,989,686</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,488,330</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="text-align: left; padding-bottom: 1pt">Purchase-Raw material</TD><TD STYLE="padding-bottom: 1pt">&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">22,817</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">Sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13,471,866</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19,150,112</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">11,894.944</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Income from disposal of fixed assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,458</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Purchase-Fixed asset</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">157,742</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,201,424</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,863,858</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Purchase-Raw material</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">32,755</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Rental expense</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">1,071,287</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,050,661</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Proceeds from interest free loans</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">136,084,140</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">275,134,122</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">245,957,818</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Repayment of interest free loans</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69,386,568</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">275,088,560</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">276,575,346</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*The purchase of fixed assets of $3,488,330 was comprised of
Nanjing Daqo Electric, Nanjing Daqo Transformer ,Zhenjiang Moeller, Jiangsu Daqo, Jiangsu Daqo High Voltage Switchgear, Intelligent
Apparatus in the amount of $93,795 , $448,184 , $2,005,617 , $11,423 , $483,764 , $445,547 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 5.4pt; text-indent: 8pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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, 2013,
2014 AND 2015</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>17. EARNINGS PER SHARE</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 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>

<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">2013</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">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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 (loss) income 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">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">(70,943,484</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">16,649,176</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">12,956,889</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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="text-align: left">Weighted average number of ordinary shares outstanding used in computing earnings per share-basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">173,068,420</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,349,976</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">258,015,851</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Plus: 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">5,003,667</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">3,396,082</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">Weighted average number of ordinary shares outstanding used in computing earnings per share&mdash;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">173,068,420</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">211,353,643</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">261,411,933</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&mdash;Basic</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">(0.41</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">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.08</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.05</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 (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&mdash;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">(0.41</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">0.08</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">0.05</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-indent: 23pt">Outstanding employee options totaling of
6,371,250, 6,154,166 and 12,563,541 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, 2013, 2014 and 2015, 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"><B>18. COMMITMENTS AND CONTINGENCIES</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 0pt 23pt"><B><I>Capital commitments</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">As of December&nbsp;31, 2015, commitments
outstanding for the purchases of property, plant and equipment approximated $15.5 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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The operating lease commitments as of December
31, 2015 were principally for the housing rental from Daqo New Material. The lease expense was $164,811, $1,071,287 and $1,050,661
for the year ended December 31, 2013, 2014 and 2015, 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: 23pt">&nbsp;</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; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Year ending December&nbsp;31</TD><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: 87%; text-align: left; padding-left: 0.125in">2016&nbsp;(Note 19)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,050,661</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.125in">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,050,661</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><B><I>Contingencies</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 was the defendant in arbitration involving
a supplier claiming approximately $0.8 million from alleged breach of an equipment supply contract. The Group determined that the
likelihood of loss is probable and the best estimate of loss was $0.4 million. Accordingly, the contingent liability of $0.4 million
was accrued in &quot;Accrued Expenses And Other Current Liabilities&quot; as of December 31, 2014. This claim issue was closed
in 2015, and there was no litigation as of December 31, 2015.</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; text-indent: 0.5in"></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"><B></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: 23pt">&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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2013,
2014 AND 2015</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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>19. VARIABLE INTEREST ENTITY</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">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: 23pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The lease agreement with the VIE was structured
such that Chongqing Daqo protect Daqo Group from potential losses from Daqo New Material. As a result of this agreement, Chongqing
Daqo was the primary beneficiary of Daqo New Material. Lease income and expenses and associated receivables and payables were eliminated
upon consolidation as intercompany transactions. Net income of the VIE was reflected as an adjustment to noncontrolling interest.
The Group relied 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 Group cannot find an immediately available alternative source for leasing similar property,
plant and equipment, then the Group&rsquo;s ability to carry on the operations will be impaired. If Daqo New Material fails to
perform its obligations, the Group 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: 23pt">&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 before December 31, 2013. The 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: 0.5in"></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&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">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt">Revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 55%; text-align: left; text-indent: -10pt; padding-left: 10pt">Operating costs and expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">150,147,024</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">*</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> *</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Net income (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(150,147,024</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></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-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;*</FONT>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">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. </FONT></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, 2013,
2014 AND 2015</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>20. 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</FONT>, <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
Group operated and viewed its performance in three segments. However, on September 28, 2012, the module business was disposed.
Therefore, only two segments remained in 2013, 2014 and 2015. Furthermore, the Group's chief operating decision maker is not provided
with asset information by segment. As such, no asset information by segment is presented. The following tables summarized the
Group&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. </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: 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: 0.5in"></P>


<P STYLE="margin: 0">&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 STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year ended December&nbsp;31, 2013</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">Polysilicon</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">Wafer</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">Elimination</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">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; text-indent: -10pt; padding-left: 10pt">Revenue - External</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">76,721,105</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; 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">$</TD><TD STYLE="width: 12%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">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; text-indent: -10pt; padding-left: 10pt">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(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">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">89,916,943</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">32,278,700</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">108,999,805</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; text-indent: -10pt; padding-left: 10pt">Total Cost of 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">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(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Gross 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">&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 STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year ended December&nbsp;31, 2014</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">Polysilicon</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">Wafer</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">Elimination</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">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; text-indent: -10pt; padding-left: 10pt">Revenue &ndash; External</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">127,692,325</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">54,879,527</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">182,571,852</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; text-indent: -10pt; padding-left: 10pt">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">29,424,883</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">(29,424,883</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(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Total revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157,117,208</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,879,527</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29,424,883</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">182,571,852</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">Total Cost of 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">119,703,550</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">47,861,811</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">(28,256,850</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">139,308,511</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -10pt; padding-left: 10pt">Gross Profit</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">37,413,658</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">7,017,716</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(1,168,033</TD><TD STYLE="font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">43,263,341</TD><TD STYLE="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">&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 STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year ended December&nbsp;31, 2015</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">Polysilicon</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">Wafer</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">Elimination</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">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; text-indent: -10pt; padding-left: 10pt">Revenue &ndash; External</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">125,916,457</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">56,124,511</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">182,040,968</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">Revenue - Intersegment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,485,364</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">(23,485,364</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(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Total Revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">149,401,821</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,124,511</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(23,485,364</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">182,040,968</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">Total Cost of 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">121,193,840</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">46,763,308</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">(23,466,065</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">144,491,083</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Gross Profit</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">28,207,981</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">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,361,203</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">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(19,299</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">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">37,549,885</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"><BR CLEAR="ALL">
</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>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 89%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">
<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&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">2013</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">2014</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">2015</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left; text-indent: -10pt; padding-left: 10pt">Customer B</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">19,644,488</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">23,882,302</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">18,125,773</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer C</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">18,210,196</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,595,911</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer D</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13,471,873</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Customer J</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">35,094,472</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Customer K</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20,465,558</TD><TD STYLE="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>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 15%">&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="font: 10pt Times New Roman, Times, Serif; width: 100%; 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; 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-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="fin_008"></A>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, 2014 AND 2015</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 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">2014</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">2015</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -10pt; padding-left: 10pt">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; text-indent: -10pt; padding-left: 10pt">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(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10pt; padding-left: 30pt">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">4,493,150</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">2,563,083</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">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">204,682</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">193,583</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">Amount due from a 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">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,807,917</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,756,666</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: 30pt">Investments in subsidiaries</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">197,571,399</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">238,112,877</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">TOTAL ASSETS</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">207,379,316</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">240,869,543</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&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><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; text-indent: -10pt; padding-left: 10pt">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(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">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; text-indent: -10pt; padding-left: 30pt">Accrued expenses and other current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">324,720</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">406,088</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">Amount due to a related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">286,526</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: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">Income tax payable</TD><TD STYLE="padding-bottom: 1pt">&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">108,992</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">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">611,246</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">515,080</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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">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(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 30pt">Ordinary shares ($0.0001 per value 500,000,000 shares authorized as of December 31, 2014 and 2015; 240,714,103 and 279,214,103 shares issued as of December 31, 2014 and 2015, respectively and 223,577,853 and 260,836,578 shares outstanding as of December 31, 2014 and 2015, respectively)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,358</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,320</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: 30pt">Additional paid in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">203,125,494</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">236,358,070</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">Retained accumulated losses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16,018,293</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,061,404</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: 30pt">Accumulated other comprehensive income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,037,183</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,780,313</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">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">(398,672</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">(1,748,836</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">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">206,768,070</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">240,354,463</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">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">207,379,316</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">240,869,543</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>


<!-- Field: Page; Sequence: 139; Value: 20 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></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, 2013,
2014 AND 2015</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>&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">2013</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">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">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: 55%; text-align: left; text-indent: -10pt; padding-left: 30pt">General and administrative</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(2,979,454</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(2,738,085</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">(4,142,634</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">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">(76,646</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">(12,310</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: White">
    <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><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(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">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">(3,056,100</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">(2,750,395</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">(4,142,634</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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><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(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">LOSS FROM OPERATION</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,750,395</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,142,634</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: 30pt">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,144</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,641</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">Exchange gain</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118,679</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: 30pt">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">-</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">(108,992</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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><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; text-indent: -10pt; padding-left: 10pt">NET LOSS BEFORE SHARE OF RESULTS OF SUBSIDIARIES</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,742,251</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,131,306</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">Equity in (losses) earnings of subsidiaries</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(67,890,514</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">19,391,427</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">17,088,195</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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><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(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Net (loss) income 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">(70,943,484</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">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,649,176</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,956,889</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <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><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(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Other comprehensive (loss) 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; text-indent: -10pt; padding-left: 10pt">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">4,148,190</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">(3,662,013</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">(11,256,870</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Total other comprehensive income (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">4,148,190</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">(3,662,013</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">(11,256,870</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: 2.5pt; text-indent: -10pt; padding-left: 10pt">Comprehensive (loss) income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(66,795,294</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,987,163</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">1,700,019</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>




<!-- Field: Page; Sequence: 140; Value: 20 -->
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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, 2013, 2014
AND 2015</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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center"><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-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></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: 8pt">&nbsp;</FONT></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Retained</B><BR>
                                         <B>earnings (accumulated</B><BR>
                                         <B>losses)</B></FONT></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-size: 10pt; 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: 8pt"><B>Accumulated</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>other</B><BR>
                                         <B>comprehensive</B><BR> <B>income</B></FONT></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-size: 10pt"><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 NOWRAP STYLE="text-align: center"><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">Number</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">$</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD 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 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 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 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 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 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 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(204,238,255)">
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 8pt">Balance at January&nbsp;1, 2013</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">172,877,433</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">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">17,288</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">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">(494,928</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">)</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">144,755,902</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">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">38,276,015</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">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">19,551,006</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">&nbsp;</FONT></TD><TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 8pt">202,105,283</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(204,238,255)">
    <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(204,238,255)">
    <TD STYLE="text-align: left"><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(204,238,255)">
    <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="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">Balance at December&nbsp;31, 2013</FONT></TD><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">173,427,853</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">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,343</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">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(398,672</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">146,676,163</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">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(32,667,469</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">23,699,196</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">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">137,326,561</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <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: 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(204,238,255)">
    <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">&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">16,649,176</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">16,649,176</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">&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">(3,662,013</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">(3,662,013</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><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">1,792,819</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">1,792,819</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">150,000</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">15</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">37,065</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">37,080</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><P STYLE="margin: 0pt 0"><FONT STYLE="font-size: 8pt">Follow-on equity offering,
                                         net of issuance cost of $3,375,553</FONT></P>


</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">50,000,000</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">5,000</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">54,619,447</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">54,624,447</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(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Balance at December&nbsp;31, 2014</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">223,577,853</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">22,358</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(398,672</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">)</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">203,125,494</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(16,018,293</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">)</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">20,037,183</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">206,768,070</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><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><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(204,238,255)">
    <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">&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">12,956,889</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">12,956,889</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">&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">(11,256,870</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">(11,256,870</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><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">3,687,951</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">3,687,951</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">1,115,625</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">112</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">275,671</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">275,783</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><P STYLE="margin: 0pt 0"><FONT STYLE="font-size: 8pt">Follow-on equity offering, net of issuance
                                 costs of $2,033,041</FONT></P>


</TD><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">38,500,000</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">3,850</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">27,993,109</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">27,996,959</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 of Stock</FONT></TD><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">(2,356,900</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">(1,350,164</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">&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">(1,350,164</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Capital
                                         injection from noncontrolling</FONT></P>

<P STYLE="margin: 0pt 0"><FONT STYLE="font-size: 8pt">shareholders</FONT></P>


</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">1,275,845</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">1,275,845</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(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Balance at December&nbsp;31, 2015</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">260,836,578</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">26,320</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(1,748,836</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">)</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">236,358,070</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(3,061,404</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">)</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">8,780,313</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">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">240,354,463</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>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><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>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, 2013,
2014 AND 2015</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>&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">2013</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">2014</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">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">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; text-indent: -10pt; padding-left: 30pt">Net (loss) income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(70,943,484</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">16,649,176</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">12,956,888</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 30pt">Share of results of subsidiaries</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19,391,427</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17,088,194</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: 30pt">Share-based compensation</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">1,792,819</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,687,951</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">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; text-indent: -10pt; padding-left: 50pt">Prepaid expenses and other current assets</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(27,195</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,099</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 50pt">Changes in other current liabilities</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26,901</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(96,166</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: 50pt">Amount due to a 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">286,526</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">(286,526</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 50pt">Income tax payable</TD><TD STYLE="padding-bottom: 1pt">&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">108,992</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; text-indent: -10pt; padding-left: 10pt">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">(689,462</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">(717,002</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">(705,956</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">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: White">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">Capital contributed to subsidiaries</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">(54,638,421</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33,256,774</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">Cash collected from subsidiaries when liquidation</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><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-bottom: 1pt; text-indent: -10pt; padding-left: 30pt">Disposition of minority interest in subsidiary</TD><TD STYLE="padding-bottom: 1pt">&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">5,110,085</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Net cash used in investing activities</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(54,638,421</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(28,146,689</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">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: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 30pt">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">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,350,164</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: 30pt">Proceeds from follow-on equity offering</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">58,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,030,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 30pt">Insurance cost for follow-on equity offering</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">(3,375,553</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,033,041</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: 30pt">Proceeds from options exercised</TD><TD STYLE="padding-bottom: 1pt">&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><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">37,080</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">275,783</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Net 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">135,171</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">54,661,527</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">26,922,578</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">NET DECREASE IN CASH AND CASH EQUIVALENTS</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><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(693,896</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,930,067</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">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">5,669,834</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">5,187,046</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">4,493,150</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">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">5,187,046</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,493,150</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,563,083</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&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>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: 0.25in; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD>
    <TD STYLE="width: 0in; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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.</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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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD>
    <TD STYLE="width: 0in; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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.</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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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.</FONT></TD>
    <TD STYLE="width: 0in; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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 Group. No dividend
    was paid by the Company's subsidiaries to their parent company in 2015.</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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    <TD STYLE="width: 0.25in; padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.</FONT></TD>
    <TD STYLE="width: 0in; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As of December&nbsp;31, 2015, 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.</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-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;*</P>

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

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<DOCUMENT>
<TYPE>EX-4.16
<SEQUENCE>2
<FILENAME>v433539_ex4-16.htm
<DESCRIPTION>EXHIBIT 4.16
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.16</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Summary Translation)</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" STYLE="padding: 0; text-indent: 0"><B>Loan agreement with Industrial Bank Co., Ltd., Urumqi Branch</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding: 0; text-indent: 0"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%; padding: 0; text-indent: 0">April 30, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Lender</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Industrial Bank Co., Ltd., Urumqi Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Borrower (Party B)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Type of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Amount</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">RMB 100 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Term of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">12 months, from 2015 to 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Benchmark rate multiplied by 1.2</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Penalty rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party B does not apply the loan according
        to the Agreement, the penalty rate shall be 100% over the interest rate</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 failure to repay the loan by maturity, the penalty
        rate shall be 50% over the interest rate</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest period</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">3 months</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of interest </B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Interest is payable on the 20<SUP>th</SUP> of the last month of each quarter</TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Covenants</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Borrower shall:</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) provide documents requested by the Lender and all information
        relation to its bank, account number and the balance of the loan proceeds, and cooperate in the Lender&rsquo;s investigation, review
        and inspection;</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) be subject to the Lender&rsquo;s supervision or inspection
        regarding its use of the loan proceeds and its operations and financial activities;</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) use the loan proceeds in accordance with the use provided
        in this Agreement, shall not misappropriate the loan proceeds or use such proceeds on fixed asset investments or in any way or
        on any operation prohibited by law, and shall not equity investment or purchase or speculate on securities, futures or real properties;</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) subject to the account control and payment management by
        the Lender;</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) not reduce registered capital in any manner;</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">(6) provide at least 30 days&rsquo; written notice to the Lender
        and obtain the Lender&rsquo;s written consent and actively implement measures to ensure full repayment as required by the Lender,
        in the event of merger, split-off, transfer of equity, outbound investment, substantial increase of financial indebtedness and
        other material event, including but not limited to (i) apply for loan or indebtedness with another bank or a third party or provide
        loans or guarantee to a third party, which substantially increases debt financing and impact or may impact the repayment of interest
        and principal hereunder; (ii) engage in material changes in capital structure and operations (including but not limited to entering
        into joint venture arrangement with foreign parties; cancellation, closure or suspension of operations; merger, split-off, acquisition;
        restructuring into a joint stock company; outbound investment; investment in a joint stock company or investee company with buildings,
        machinery, equipment or other fixed assets or trademark, patent, proprietary technologies, land use rights or other intangible
        assets; or property right or control transactions by way of lease, contracting, joint venture or escrow);</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">(7) provide written notice to the Lender within 7 days upon
        the occurrence or the likely occurrence of the following events and actively implement measures to ensure full repayment of interest
        and principal under this agreement: (i) material financial loss, asset loss or other financial crisis; (ii) suspension of operation,
        termination or suspension of operating license, voluntary or involuntary bankruptcy or dissolution proceedings; (iii) material
        operating or financial crisis of its controlling shareholder or other affiliate companies, which affects the ordinary operation
        of the Borrower; (iv) change to the legal representative, director or senior management of the Borrower, which affects the ordinary
        operation of the Borrower; (v) material related party transaction between the Borrower and its controlling shareholder, which affects
        the ordinary operation of the Borrower; (vi) any litigation, arbitration or criminal or administrative penalty which has a material
        adverse effect on the operating or financial condition of the Borrower; and (vii) other events that may affect its ability to repay
        debt; 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">(8) comply with certain other covenants.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

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<TYPE>EX-4.17
<SEQUENCE>3
<FILENAME>v433539_ex4-17.htm
<DESCRIPTION>EXHIBIT 4.17
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.17</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Summary Translation)</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" STYLE="padding: 0; text-indent: 0"><B>Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding: 0; text-indent: 0"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%; padding: 0; text-indent: 0">June 24, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Lender (Party A)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Chongqing Rural Commercial Bank, Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Borrower (Party B)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Type of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Fixed assets</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Use of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Polysilicon manufacturing energy-saving technology improvement project</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Amount</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">RMB 65 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Term of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">6 years, from June 25, 2015 to June 24, 2021</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Benchmark rate, plus 20%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Penalty rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party B does not apply the loan according
        to the Agreement, the penalty rate shall be 100% over the interest rate</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 failure to repay the loan in accordance with
        the Agreement, the penalty rate shall be 50% over the interest rate</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of interest</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Interest shall be paid monthly at the 20<SUP>th</SUP> of each month</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of principal</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Principal of RMB25 million shall be repaid by June 20, 2016</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Principal of RMB30 million shall be repaid at the 20<SUP>th</SUP>
        of the last month of each quarter from June 21, 2016 to the maturity date of the loan</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Party A&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party A has the right to be informed about Party B&rsquo;s
        operations, financial conditions and inventory, supervise and inspect the use of the loan, and require Party B to provide financial
        statements and other documents and information;<BR>
        <BR>
        </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Party A has the right to deduct any amount due under the
        Agreement from the balance of the account Party B opens with Party A under the Agreement;</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) Party A has the obligation to fund the loan in accordance
        with the Agreement;</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) In the event that Party B fails to perform its obligations,
        Party A has the right to disclose to the public such default by Party 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">(5) Party A shall keep information regarding Party B&rsquo;s
        liabilities, financial condition and operations confidential except for reasonable internal use by Party A, use for corporate credit
        purposes and other permissible uses under laws and regulations.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party B has the right to use the loan proceeds in accordance
        with the Agreement;</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) Party B shall use the loan in accordance with the Agreement,
        shall not misappropriate the loan and ensure compliance with law;</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) Party B shall repay the principal and interest when due
        and payable;</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) Party B shall promptly notify Party A in writing and implement
        repayment measures acceptable to Party A in the event that there shall be a change that affects the rights and liabilities under
        this Agreement, threatens Party B&rsquo;s ordinary operations or materially and adversely affects Party B&rsquo;s ability to perform
        the repayment obligations under the Agreement (including but not limited to suspension, termination, closure, bankruptcy, suspension
        or cancellation of manufacturing or sale permit or operating license, illegal activity by Party B, its legal representative or
        main responsible person, material safety accidents, material litigation, material difficulty of its operations or deterioration
        of its financial condition);</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) In the event of any partial or complete loss of the ability
        of the guarantor under the Agreement to guarantee the loan (including but not limited to suspension, termination, cancellation,
        bankruptcy, involvement in litigation or arbitration, administrative penalty or operating loss) or in the event of any loss to
        security or pledges under the loan, Party B shall promptly notify Party A and provide other guarantee acceptable to Party A;</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">(6) Party B shall notify Party A in writing within 15 days following
        any change to the registration of certain matters, including but not limited to name, registered capital, legal representative,
        legal address and scope of operations;</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">(7) Party B shall bear any loss, risk or liability in the event
        that the proceeds of loan are seized or withheld by any competent authority after Party A credits Party B&rsquo;s account;</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">(8) Throughout the term of the loan, without Party A&rsquo;s
        prior consent, Party B shall not dispose of polysilicon manufacturing energy-saving technology improvement project and any other
        significant assets of the Company (other than to repay the loan to Party A) and shall not make any distributions to its shareholder.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s covenants</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Compliance with law and regulation;</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) Timely and periodic provision to Party A of financial statements
        and true, accurate, complete and effective information on accounts payable and receivable, inventory details and activities of
        capital collection account;</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) Diligent and active cooperation with Party A&rsquo;s supervision
        of loan funding, post-funding supervision and other relevant inspections;</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) Prompt notice to Party A in the event of any material adverse
        effect on Party B&rsquo;s repayment abilities and implementation of repayment measures acceptable to Party A;</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) No evasion of entrusted payment by Party A;</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">(6) In the course of the project, prior written notice to Party
        A in the event of any material change to the construction plan or project budget; 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">(7) In the event of any merger, spinoff, share equity change
        or transfer, change of operation method (such as contracting or lease), material asset transfer or disposal, share equity pledge,
        investment, guarantee, material increase of debt financing, new project and other material matters, Party B shall notify Party
        A in advance in writing, and shall not be engaged in these actions without performing obligations under the loan and providing
        guarantee or other risk management measures acceptable to Party A.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

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<DOCUMENT>
<TYPE>EX-4.18
<SEQUENCE>4
<FILENAME>v433539_ex4-18.htm
<DESCRIPTION>EXHIBIT 4.18
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.18</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Summary Translation)</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" STYLE="padding: 0; text-indent: 0"><B>Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding: 0; text-indent: 0"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%; padding: 0; text-indent: 0">July 16, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Lender (Party A)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Chongqing Rural Commercial Bank, Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Borrower (Party B)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Type of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Use of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Purchase raw materials and other operating working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Amount</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">RMB 88 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Term of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">1 year, from July 16, 2015 to July 15, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Benchmark rate, plus 20%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Penalty rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party B does not apply the loan according
        to the Agreement, the penalty rate shall be 100% over the interest rate</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 failure to repay the loan in accordance with
        the Agreement, the penalty rate shall be 50% over the interest rate</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest period</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">One month</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of interest</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">On the 20<SUP>th</SUP> of each month</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of principal</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Principal shall be repaid by the maturity date of the loan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Party A&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party A has the right to be informed about Party B&rsquo;s
        operations, financial conditions and inventory, supervise and inspect the use of the loan, and require Party B to provide financial
        statements and other documents and information;<BR>
        <BR>
        </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Party A has the right to deduct any amount due under the
        Agreement from the balance of the account Party B opens with Party A under the Agreement;</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) Party A has the obligation to fund the loan in accordance
        with the Agreement;</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) In the event that Party B fails to perform its obligations,
        Party A has the right to disclose to the public such default by Party 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">(5) Party A shall keep information regarding Party B&rsquo;s
        liabilities, financial condition and operations confidential except for reasonable internal use by Party A, use for corporate credit
        purposes and other permissible uses under laws and regulations;</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">(6) Party A has the right to participate in Party B&rsquo;s
        significant capital raising, asset disposal and merger, spinoff, capital restructuring, liquidation and dissolution and other activities
        to protect Party A&rsquo;s interest.</P></TD></TR>
</TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party B has the right to use the loan proceeds in accordance
        with the Agreement;</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) Party B shall use the loan in accordance with the Agreement,
        shall not misappropriate the loan and ensure compliance with law;</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) Party B shall repay the principal and interest when due
        and payable;</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) Party B shall promptly notify Party A in writing and implement
        repayment measures acceptable to Party A in the event that there shall be a change that affects the rights and liabilities under
        this Agreement, threatens Party B&rsquo;s ordinary operations or materially and adversely affects Party B&rsquo;s ability to perform
        the repayment obligations under the Agreement (including but not limited to suspension, termination, closure, bankruptcy, suspension
        or cancellation of manufacturing or sale permit or operating license, illegal activity by Party B, its legal representative or
        main responsible person, material safety accidents, material litigation, material difficulty of its operations or deterioration
        of its financial condition);</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) In the event of any partial or complete loss of the ability
        of the guarantor under the Agreement to guarantee the loan (including but not limited to suspension, termination, cancellation,
        bankruptcy, involvement in litigation or arbitration, administrative penalty or operating loss) or in the event of any loss to
        security or pledges under the loan, Party B shall promptly notify Party A and provide other guarantee acceptable to Party A;</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">(6) Party B shall notify Party A in writing within 15 days following
        any change to the registration of certain matters, including but not limited to name, registered capital, legal representative,
        legal address and scope of operations;</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">(7) Party B shall bear any loss, risk or liability in the event
        that the proceeds of loan are seized or withheld by any competent authority after Party A credits Party B&rsquo;s account;</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">(8) Throughout the term of the loan, without Party A&rsquo;s
        prior consent, Party B shall not dispose of any material assets (other than to repay the loan to Party A) and shall not make any
        distributions to its shareholder.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s covenants</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Compliance with law and regulation;</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) Timely and periodic provision to Party A of financial statements
        and true, accurate, complete and effective information on accounts payable and receivable, inventory details and activities of
        capital collection account;</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) Diligent and active cooperation with Party A&rsquo;s supervision
        of loan funding, post-funding supervision and other relevant inspections;</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) Prompt notice to Party A in the event of any material adverse
        effect on Party B&rsquo;s repayment abilities and implementation of repayment measures acceptable to Party A;</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) No evasion of entrusted payment by Party A;</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">(6) Party A has the right to demand prepayment in light of cash
        collection by Party 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">(7) In the event of any merger, spinoff, share equity change
        or transfer, change of operation method (such as contracting or lease), material asset transfer or disposal, share equity pledge,
        investment, guarantee, material increase of debt financing, new project and other material matters, Party B shall notify Party
        A in advance in writing, and shall not be engaged in these actions without performing obligations under the loan and providing
        guarantee or other risk management measures acceptable to Party A.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

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<DOCUMENT>
<TYPE>EX-4.19
<SEQUENCE>5
<FILENAME>v433539_ex4-19.htm
<DESCRIPTION>EXHIBIT 4.19
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.19</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Summary Translation)</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" STYLE="padding: 0; text-indent: 0"><B>Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding: 0; text-indent: 0"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%; padding: 0; text-indent: 0">July 23, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Lender (Party A)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Chongqing Rural Commercial Bank, Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Borrower (Party B)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Type of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Use of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Purchase raw materials and other operating working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Amount</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">RMB 28.65 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Term of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">12 months, from July 27, 2015 to July 26, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Benchmark rate, plus 20%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Penalty rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party B does not apply the loan according
        to the Agreement, the penalty rate shall be 100% over the interest rate</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 failure to repay the loan in accordance with
        the Agreement, the penalty rate shall be 50% over the interest rate</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest period</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">One month</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of interest</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">On the 20<SUP>th</SUP> of each month</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of principal</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Principal shall be repaid by the maturity date of the loan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Party A&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party A has the right to be informed about Party B&rsquo;s
        operations, financial conditions and inventory, supervise and inspect the use of the loan, and require Party B to provide financial
        statements and other documents and information;<BR>
        <BR>
        </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Party A has the right to deduct any amount due under the
        Agreement from the balance of the account Party B opens with Party A under the Agreement;</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) Party A has the obligation to fund the loan in accordance
        with the Agreement;</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) In the event that Party B fails to perform its obligations,
        Party A has the right to disclose to the public such default by Party 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">(5) Party A shall keep information regarding Party B&rsquo;s
        liabilities, financial condition and operations confidential except for reasonable internal use by Party A, use for corporate credit
        purposes and other permissible uses under laws and regulations;</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">(6) Party A has the right to participate in Party B&rsquo;s
        significant capital raising, asset disposal and merger, spinoff, capital restructuring, liquidation and dissolution and other activities
        to protect Party A&rsquo;s interest.</P></TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party B has the right to use the loan proceeds in accordance
        with the Agreement;</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) Party B shall use the loan in accordance with the Agreement,
        shall not misappropriate the loan and ensure compliance with law;</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) Party B shall repay the principal and interest when due
        and payable;</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) Party B shall promptly notify Party A in writing and implement
        repayment measures acceptable to Party A in the event that there shall be a change that affects the rights and liabilities under
        this Agreement, threatens Party B&rsquo;s ordinary operations or materially and adversely affects Party B&rsquo;s ability to perform
        the repayment obligations under the Agreement (including but not limited to suspension, termination, closure, bankruptcy, suspension
        or cancellation of manufacturing or sale permit or operating license, illegal activity by Party B, its legal representative or
        main responsible person, material safety accidents, material litigation, material difficulty of its operations or deterioration
        of its financial condition);</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) In the event of any partial or complete loss of the ability
        of the guarantor under the Agreement to guarantee the loan (including but not limited to suspension, termination, cancellation,
        bankruptcy, involvement in litigation or arbitration, administrative penalty or operating loss) or in the event of any loss to
        security or pledges under the loan, Party B shall promptly notify Party A and provide other guarantee acceptable to Party A;</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">(6) Party B shall notify Party A in writing within 15 days following
        any change to the registration of certain matters, including but not limited to name, registered capital, legal representative,
        legal address and scope of operations;</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">(7) Party B shall bear any loss, risk or liability in the event
        that the proceeds of loan are seized or withheld by any competent authority after Party A credits Party B&rsquo;s account;</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">(8) Throughout the term of the loan, without Party A&rsquo;s
        prior consent, Party B shall not dispose of any material assets (other than to repay the loan to Party A) and shall not make any
        distributions to its shareholder.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s covenants</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Compliance with law and regulation;</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) Timely and periodic provision to Party A of financial statements
        and true, accurate, complete and effective information on accounts payable and receivable, inventory details and activities of
        capital collection account;</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) Diligent and active cooperation with Party A&rsquo;s supervision
        of loan funding, post-funding supervision and other relevant inspections;</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) Prompt notice to Party A in the event of any material adverse
        effect on Party B&rsquo;s repayment abilities and implementation of repayment measures acceptable to Party A;</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) No evasion of entrusted payment by Party A;</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">(6) Party A has the right to demand prepayment in light of cash
        collection by Party 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">(7) In the event of any merger, spinoff, share equity change
        or transfer, change of operation method (such as contracting or lease), material asset transfer or disposal, share equity pledge,
        investment, guarantee, material increase of debt financing, new project and other material matters, Party B shall notify Party
        A in advance in writing, and shall not be engaged in these actions without performing obligations under the loan and providing
        guarantee or other risk management measures acceptable to Party A.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

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<DOCUMENT>
<TYPE>EX-4.20
<SEQUENCE>6
<FILENAME>v433539_ex4-20.htm
<DESCRIPTION>EXHIBIT 4.20
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.20</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Summary Translation)</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" STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%; padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">September 16, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Lender (Party A)</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">Chongqing Rural Commercial Bank, Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Borrower (Party B)</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Type of loan</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Use of loan</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">Payments for salary, electricity and raw materials</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Amount</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">RMB 50.35 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Term of loan</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">12 months, from September 16, 2015 to September 15, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Interest rate</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">Benchmark rate, plus 20%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Penalty rate</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party B does not apply the loan according
        to the Agreement, the penalty rate shall be 100% over the interest rate</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 failure to repay the loan in accordance with
        the Agreement, the penalty rate shall be 50% over the interest rate</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Repayment of principal and interest </B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">Principal and interest shall be due and payable at maturity</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0"><B>Party A&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party A has the right to be informed about Party B&rsquo;s
        operations, financial conditions and inventory, supervise and inspect the use of the loan, and require Party B to provide financial
        statements and other documents and information;<BR>
        <BR>
        </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Party A has the right to deduct any amount due under the
        Agreement from the balance of the account Party B opens with Party A under the Agreement;</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) Party A has the obligation to fund the loan in accordance
        with the Agreement;</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) In the event that Party B fails to perform its obligations,
        Party A has the right to disclose to the public such default by Party 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">(5) Party A shall keep information regarding Party B&rsquo;s
        liabilities, financial condition and operations confidential except for reasonable internal use by Party A, use for corporate credit
        purposes and other permissible uses under laws and regulations;</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">(6) Party A has the right to participate in Party B&rsquo;s
        significant capital raising, asset disposal and merger, spinoff, capital restructuring, liquidation and dissolution and other activities
        to protect Party A&rsquo;s interest.</P></TD></TR>
</TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;&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="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party B has the right to use the loan proceeds in accordance
        with the Agreement;</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) Party B shall use the loan in accordance with the Agreement,
        shall not misappropriate the loan and ensure compliance with law;</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) Party B shall repay the principal and interest when due
        and payable;</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) Party B shall promptly notify Party A in writing and implement
        repayment measures acceptable to Party A in the event that there shall be a change that affects the rights and liabilities under
        this Agreement, threatens Party B&rsquo;s ordinary operations or materially and adversely affects Party B&rsquo;s ability to perform
        the repayment obligations under the Agreement (including but not limited to suspension, termination, closure, bankruptcy, suspension
        or cancellation of manufacturing or sale permit or operating license, illegal activity by Party B, its legal representative or
        main responsible person, material safety accidents, material litigation, material difficulty of its operations or deterioration
        of its financial condition);</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) In the event of any partial or complete loss of the ability
        of the guarantor under the Agreement to guarantee the loan (including but not limited to suspension, termination, cancellation,
        bankruptcy, involvement in litigation or arbitration, administrative penalty or operating loss) or in the event of any loss to
        security or pledges under the loan, Party B shall promptly notify Party A and provide other guarantee acceptable to Party A;</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">(6) Party B shall notify Party A in writing within 15 days following
        any change to the registration of certain matters, including but not limited to name, registered capital, legal representative,
        legal address and scope of operations;</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">(7) Party B shall bear any loss, risk or liability in the event
        that the proceeds of loan are seized or withheld by any competent authority after Party A credits Party B&rsquo;s account;</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">(8) Throughout the term of the loan, without Party A&rsquo;s
        prior consent, Party B shall not dispose of any material assets (other than to repay the loan to Party A) and shall not make any
        distributions to its shareholder.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;&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="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s covenants</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-bottom: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Compliance with law and regulation;</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) Timely and periodic provision to Party A of financial statements
        and true, accurate, complete and effective information on accounts payable and receivable, inventory details and activities of
        capital collection account;</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) Diligent and active cooperation with Party A&rsquo;s supervision
        of loan funding, post-funding supervision and other relevant inspections;</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) Prompt notice to Party A in the event of any material adverse
        effect on Party B&rsquo;s repayment abilities and implementation of repayment measures acceptable to Party A;</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) No evasion of entrusted payment by Party A;</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">(6) Party A has the right to demand prepayment in light of cash
        collection by Party 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">(7) In the event of any merger, spinoff, share equity change
        or transfer, change of operation method (such as contracting or lease), material asset transfer or disposal, share equity pledge,
        investment, guarantee, material increase of debt financing, new project and other material matters, Party B shall notify Party
        A in advance in writing, and shall not be engaged in these actions without performing obligations under the loan and providing
        guarantee or other risk management measures acceptable to Party A.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

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<DOCUMENT>
<TYPE>EX-4.21
<SEQUENCE>7
<FILENAME>v433539_ex4-21.htm
<DESCRIPTION>EXHIBIT 4.21
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 4.21</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Summary Translation)</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" STYLE="padding: 0; text-indent: 0"><B>Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding: 0; text-indent: 0"><B>Date of the Agreement</B></TD>
    <TD STYLE="width: 70%; padding: 0; text-indent: 0">October 14, 2015</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Lender (Party A)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Chongqing Rural Commercial Bank, Wanzhou Branch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Borrower (Party B)</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Xinjiang Daqo New Energy Co., Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Type of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Use of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Purchase raw materials and other operating working capital</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Amount</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">RMB 33 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Term of loan</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">12 months, from October 14, 2015 to October 13, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Benchmark rate, plus 20%</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Penalty rate</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the event that Party B does not apply the loan according
        to the Agreement, the penalty rate shall be 100% over the interest rate</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 failure to repay the loan in accordance with
        the Agreement, the penalty rate shall be 50% over the interest rate</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Interest period</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">One month</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Repayment of principal and interest</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">Principal and interest shall be due and payable at maturity</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><B>Party A&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party A has the right to be informed about Party B&rsquo;s
        operations, financial conditions and inventory, supervise and inspect the use of the loan, and require Party B to provide financial
        statements and other documents and information;<BR>
        <BR>
        </P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Party A has the right to deduct any amount due under the
        Agreement from the balance of the account Party B opens with Party A under the Agreement;</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) Party A has the obligation to fund the loan in accordance
        with the Agreement;</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) In the event that Party B fails to perform its obligations,
        Party A has the right to disclose to the public such default by Party 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">(5) Party A shall keep information regarding Party B&rsquo;s
        liabilities, financial condition and operations confidential except for reasonable internal use by Party A, use for corporate credit
        purposes and other permissible uses under laws and regulations;</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">(6) Party A has the right to participate in Party B&rsquo;s
        significant capital raising, asset disposal and merger, spinoff, capital restructuring, liquidation and dissolution and other activities
        to protect Party A&rsquo;s interest.</P></TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s rights and obligations</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Party B has the right to use the loan proceeds in accordance
        with the Agreement;</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) Party B shall use the loan in accordance with the Agreement,
        shall not misappropriate the loan and ensure compliance with law;</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) Party B shall repay the principal and interest when due
        and payable;</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) Party B shall promptly notify Party A in writing and implement
        repayment measures acceptable to Party A in the event that there shall be a change that affects the rights and liabilities under
        this Agreement, threatens Party B&rsquo;s ordinary operations or materially and adversely affects Party B&rsquo;s ability to perform
        the repayment obligations under the Agreement (including but not limited to suspension, termination, closure, bankruptcy, suspension
        or cancellation of manufacturing or sale permit or operating license, illegal activity by Party B, its legal representative or
        main responsible person, material safety accidents, material litigation, material difficulty of its operations or deterioration
        of its financial condition);</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) In the event of any partial or complete loss of the ability
        of the guarantor under the Agreement to guarantee the loan (including but not limited to suspension, termination, cancellation,
        bankruptcy, involvement in litigation or arbitration, administrative penalty or operating loss) or in the event of any loss to
        security or pledges under the loan, Party B shall promptly notify Party A and provide other guarantee acceptable to Party A;</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">(6) Party B shall notify Party A in writing within 15 days following
        any change to the registration of certain matters, including but not limited to name, registered capital, legal representative,
        legal address and scope of operations;</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">(7) Party B shall bear any loss, risk or liability in the event
        that the proceeds of loan are seized or withheld by any competent authority after Party A credits Party B&rsquo;s account;</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">(8) Throughout the term of the loan, without Party A&rsquo;s
        prior consent, Party B shall not dispose of any material assets (other than to repay the loan to Party A) and shall not make any
        distributions to its shareholder.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 0">&nbsp;&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="padding: 0; text-indent: 0; width: 30%"><B>Party B&rsquo;s covenants</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 70%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Compliance with law and regulation;</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) Timely and periodic provision to Party A of financial statements
        and true, accurate, complete and effective information on accounts payable and receivable, inventory details and activities of
        capital collection account;</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) Diligent and active cooperation with Party A&rsquo;s supervision
        of loan funding, post-funding supervision and other relevant inspections;</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) Prompt notice to Party A in the event of any material adverse
        effect on Party B&rsquo;s repayment abilities and implementation of repayment measures acceptable to Party A;</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) No evasion of entrusted payment by Party A;</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">(6) Party A has the right to demand prepayment in light of cash
        collection by Party 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">(7) In the event of any merger, spinoff, share equity change
        or transfer, change of operation method (such as contracting or lease), material asset transfer or disposal, share equity pledge,
        investment, guarantee, material increase of debt financing, new project and other material matters, Party B shall notify Party
        A in advance in writing, and shall not be engaged in these actions without performing obligations under the loan and providing
        guarantee or other risk management measures acceptable to Party A.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

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<DOCUMENT>
<TYPE>EX-4.22
<SEQUENCE>8
<FILENAME>v433539_ex4-22.htm
<DESCRIPTION>EXHIBIT 4.22
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #2A2728">&nbsp;<B>Exhibit 4.22</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #2A2728"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #2A2728"><B>Letter of Support</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #2A2728">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">TO THE BOARD OF DIRECTORS OF<BR>
DAQO NEW ENERGY CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #2A2728">We, as major shareholders,
acknowledge the net current liability position of Daqo New Energy Corp. as of December 31, 2015 and agree to provide necessary
financial support to Daqo New Energy Corp. and its subsidiaries through Daqo Group Co., Ltd. (&quot;Daqo Group&quot;), another
company wholly owned by the shareholders of us and a related party of Daqo New Energy Corp., which has sufficient capital and access
to resources and hence the ability do so.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #2A2728">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">The details of our agreed financial support
to Daqo New Energy Corp. include the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #2A2728"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">We agree that Daqo New Energy Corp. does NOT have to repay us the amount of RMB 300M owed as of
December 31, 2015 to Daqo Group, Chongqing Daqo Solar Co., Ltd., Xinjiang Daqo Investment Co., Ltd and Daqo New Material Co., Ltd.
before January 1, 2017.</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; color: #2A2728"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">In addition, we agree to provide Daqo New Energy Corp. additional financial funding to support
the Company's operation between January 1, 2016 and December 31, 2016. Daqo New Energy Corp. does NOT have to repay us this amount
before January 1, 2017.</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; color: #2A2728"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">In addition, the management of Daqo New Energy Corp. should immediately suspend the capacity expansion
project in its Xinjiang facilities if they don't have sufficient financial resources to continue the project after repaying all
other financial obligations.</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 0pt 0.25in; text-align: justify; color: #2A2728">We agree to
provide funding to support the Company to repay all the financial obligations already committed related to the capacity expansion
project in its Xinjiang facilities. Daqo New Energy Corp. does NOT have to repay us this amount before January 1, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; color: #2A2728">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">Investor name:&#9;MILLION FORTUNE INTERNATIONAL
LIMITED<BR>
Signature:&#9;<U>/s/ Wanlin Gao&#9;</U><BR>
Date:&#9;February 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">Investor name:&#9;BEST MOUNT INTERNATIONAL LIMITED<BR>
Signature:&#9;<U>/s/ Jianrong Tang&#9;</U><BR>
Date:&#9;February 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">Investor name:&#9;ACE PRO HOLDINGS LIMITED<BR>
Signature:&#9;<U>/s/ Bin Cai&#9;</U><BR>
Date:&#9;February 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #2A2728">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #2A2728">Investor name:&#9;INSTANTUP INVESTMENTS
LIMITED</FONT><BR>
<FONT STYLE="color: #272425">Signature:&#9;<U>/s/ Dafeng Shi&#9;</U></FONT><BR>
<FONT STYLE="color: #2A2728">Date:&#9;February 22, 2016</FONT></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"><FONT STYLE="color: #2A2728">Investor name:&#9;GOLD INTELLECT
LIMITED</FONT><BR>
<FONT STYLE="color: #272425">Signature:&#9;<U>/s/ Guangfu Xu&#9;</U></FONT><BR>
<FONT STYLE="color: #2A2728">Date:&#9;February 22, 2016</FONT></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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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></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"><FONT STYLE="color: #2A2728">Investor name:&#9;PLENTY CHINA
LIMITED</FONT><BR>
<FONT STYLE="color: #272425">Signature:&#9;<U>/s/ Xiang Xu&#9;</U></FONT><BR>
<FONT STYLE="color: #2A2728">Date:&#9;February 22, 2016</FONT></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"><FONT STYLE="color: #2A2728">Investor name:&#9;RUIAN INTERNATIONAL
LIMITED</FONT><BR>
<FONT STYLE="color: #272425">Signature:&#9;<U>/s/ Fei Ge&#9;</U></FONT><BR>
<FONT STYLE="color: #2A2728">Date:&#9;February 22, 2016</FONT></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"><FONT STYLE="color: #2A2728">Investor name:&#9;LUCKY PROSPER
INVESTMENTS LIMITED</FONT><BR>
<FONT STYLE="color: #272425">Signature:&#9;<U>/s/ Dafeng Shi&#9;</U></FONT><BR>
<FONT STYLE="color: #2A2728">Date:&#9;February 22, 2016</FONT></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"><FONT STYLE="color: #2A2728">Investor name:&#9;JIA XIN ENTERPRISES
LIMITED</FONT><BR>
<FONT STYLE="color: #272425">Signature:&#9;<U>/s/ Bin Cai&#9;</U></FONT><BR>
<FONT STYLE="color: #2A2728">Date:&#9;February 22, 2016</FONT></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; color: #272425">Investor name:&#9;DAQO GROUP CO., LTD.<BR>
Signature:&#9;<U>/s/ Guangfu Xu&#9;</U><BR>
Date:&#9;February 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #272425">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #272425"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #272425">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #272425">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #272425">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>9
<FILENAME>v433539_ex8-1.htm
<DESCRIPTION>EXHIBIT 8.1
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 8.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; 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: 50%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Subsidiaries</B></FONT></TD>
    <TD STYLE="width: 2%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 48%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Jurisdiction of Incorporation:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 0.25in; text-indent: 0"><FONT STYLE="font-size: 10pt">Chongqing Daqo New Energy Co., Ltd.</FONT></TD>
    <TD STYLE="padding: 0 0 0 0.25in; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 0.25in; text-indent: 0"><FONT STYLE="font-size: 10pt">People&rsquo;s Republic of China</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 0.25in; text-indent: 0"><FONT STYLE="font-size: 10pt">Xinjiang Daqo New Energy Stock Co., Ltd. (formerly known as Xinjiang Daqo New Energy Co., Ltd.)</FONT></TD>
    <TD STYLE="padding: 0 0 0 0.25in; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 0.25in; text-indent: 0"><FONT STYLE="font-size: 10pt">People&rsquo;s Republic of China</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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



<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"><B></B></P>

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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>10
<FILENAME>v433539_ex12-1.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
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<P STYLE="margin: 0"></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: 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; text-align: justify; text-indent: 0.5in">I, Gongda Yao, certify
that:</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: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; 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">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; 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">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; 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">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The company&rsquo;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; 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">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; 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">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;&nbsp;</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: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evaluated
the effectiveness of the company&rsquo;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;and</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: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclosed
in this report any change in the company&rsquo;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&rsquo;s internal control
over financial reporting;&nbsp;and</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: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The company&rsquo;s
other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting,
to the company&rsquo;s auditors and the audit committee of the company&rsquo;s board of directors (or persons performing the equivalent
functions):</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: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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&rsquo;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; 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">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any fraud,
whether or not material, that involves management or other employees who have a significant role in the company&rsquo;s internal
control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&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>Date:</TD>
    <TD COLSPAN="2">April 7, 2016</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Gongda Yao</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">Name:</TD>
    <TD STYLE="width: 36%">Gongda Yao</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>11
<FILENAME>v433539_ex12-2.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>
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<P STYLE="margin: 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 12.2</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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; text-indent: 0.5in">I, Ming Yang, certify that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The company&rsquo;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 Rule&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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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; 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">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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;&nbsp;</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-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evaluated the effectiveness
of the company&rsquo;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;and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Disclosed in this report any
change in the company&rsquo;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&rsquo;s internal control over financial
reporting;&nbsp;and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The company&rsquo;s other certifying
officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&rsquo;s
auditors and the audit committee of the company&rsquo;s board of directors (or persons performing the equivalent functions):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any fraud, whether or not material,
that involves management or other employees who have a significant role in the company&rsquo;s internal control over financial
reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&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>Date:</TD>
    <TD COLSPAN="2">April 7, 2016</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Ming Yang</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">Name:</TD>
    <TD STYLE="width: 36%">Ming Yang</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Financial Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>12
<FILENAME>v433539_ex13-1.htm
<DESCRIPTION>EXHIBIT 13.1
<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>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 13.1</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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; text-indent: 0.5in">In connection with the Annual Report of
Daqo New Energy Corp. (the &ldquo;Company&rdquo;) on Form&nbsp;20-F for the year ended December 31, 2015 as filed with the Securities
and Exchange Commission on the date hereof (the&nbsp;&ldquo;Report&rdquo;),&nbsp;I, Gongda Yao, Chief Executive Officer of the
Company, hereby 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; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(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; text-indent: 0in">&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>Date:</TD>
    <TD COLSPAN="2">April 7, 2016</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Gongda Yao</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">Name:</TD>
    <TD STYLE="width: 36%">Gongda Yao</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD>
    <TD>&nbsp;</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="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>13
<FILENAME>v433539_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"></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: 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: 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; text-indent: 0.5in">In connection with the Annual Report of
Daqo New Energy Corp. (the &ldquo;Company&rdquo;) on Form&nbsp;20-F for the year ended December 31, 2015 as filed with the Securities
and Exchange Commission on the date hereof (the&nbsp;&ldquo;Report&rdquo;),&nbsp;I, Ming Yang, Chief Financial Officer of the Company,
hereby 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; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(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; 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>Date: </TD>
    <TD COLSPAN="2">April 7, 2016</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Ming Yang</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">Name:</TD>
    <TD STYLE="width: 36%">Ming Yang</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Financial Officer</TD>
    <TD>&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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<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>14
<FILENAME>v433539_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: center">&nbsp;</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: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</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">We consent to the incorporation by reference in
Registration Statements on Form S-8 (No. 333-172234 and No.&nbsp;333-205547) and on Form F-3 ((No. 333-195239 and No.
333-201223) of our reports dated April 7, 2016, relating to the consolidated financial statements and financial statement
schedule of Daqo New Energy Corp. and subsidiaries (the &ldquo;Company&rdquo;) and the effectiveness of the Company&rsquo;s
internal control over financial reporting, appearing in this Annual Report on Form 20-F of DAQO New Energy Corp. for the year
ended December 31, 2015.</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 STYLE="width: 100%; font-size: 10pt"><FONT STYLE="font-size: 10pt">s/ Deloitte Touche Tohmatsu Certified Public Accountants LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Shanghai, China </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">April 7, 2016</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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M$]@                                                    .>&'$
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M\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH
M/F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO
M_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N
M/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9I
MOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@
M ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_
M .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[C
MZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;
M\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH
M/F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO
M_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N
M/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9I
MOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@
M ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_
M .^@ ^9IOP[N/KVO_OH /F:;\.[CZ]K_ .^@ ^9IOP[N/KVO_OH /F:;\.[C
7Z]K_ .^@ ^9IOP[N/KVO_OH 9H !_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>tpg52.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
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&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Selling, general and administrative expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,743,768&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,544,078&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3,323,948&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Research and development expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;60,987&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;12,310&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Cost of sales&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;76,646&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;236,431&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;364,003&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2.80pt double;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;1,881,401&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;1,792,819&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;3,687,951&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
  <us-gaap:BasisOfAccountingPolicyPolicyTextBlock id="Tag343" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;The accompanying consolidated financial statements have been prepared assuming that the Group 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 Group's ability to generate cash flows from operations, and the Group'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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;As of December 31, 2015, the Company's current liabilities exceed its current assets by $&lt;font&gt;186.6&lt;/font&gt;&amp;#160;million. While the Company had cash and cash equivalents of $ &lt;font&gt;14.5&lt;/font&gt;&amp;#160;million, short-term borrowings, including current portion of long-term bank borrowings of &amp;#160;$&lt;font&gt;123.9&lt;/font&gt; million will be due within one year. Additionally, the Company has capital commitments of $&lt;font&gt;15.5&lt;/font&gt;&amp;#160;million relating to the purchases of property, plant and equipment to be fulfilled in the next twelve months.&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;However, the Group&amp;#160;regards the going concern assumption as appropriate considering the following plans and actions:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The Group generated net income and positive cash flow from operations for &lt;font&gt;two&lt;/font&gt; consecutive years.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The Group has performed a review of its cash flow forecasts for the twelve month period ending December 31, 2016, and believes that its operating cash flow will be positive during the twelve month period ending December 31, 2016.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The Group has or is in the process of taking a number of cost reduction initiatives, including the new hydrochlorination system, technology improvement and polysilicon capacity expansion in Xinjiang.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;4.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;On February 22, 2016, the Group obtained a letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Group to ensure the Group has the funds required to satisfy its obligations as they come due in the normal course during the twelve months ending December 31, 2016. Further, the support letter provides that Daqo Group will not require the Group to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group before January 1, 2017, which at December 31, 2015 totaled $&lt;font&gt;46.4&lt;/font&gt; million.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;As of December 31, 2015, the Group has available bank accepted note facilities of $&lt;font&gt;22.6&lt;/font&gt; million. 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 of the loans and believes the Company will continue to be able to do so.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in;"&gt;Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Group'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;/div&gt;
&lt;/div&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
  <us-gaap:ShippingAndHandlingCostPolicyTextBlock id="Tag344" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 $&lt;font&gt;1,901,384&lt;/font&gt;, $&lt;font&gt;2,054,786&lt;/font&gt;&amp;#160;and $&lt;font&gt;2,708,962&lt;/font&gt;, respectively for the years ended December 31, 2013, 2014 and 2015.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ShippingAndHandlingCostPolicyTextBlock>
  <us-gaap:InventoryFinishedGoods id="Tag345" contextRef="I2015-12-31" unitRef="USD" decimals="0">2746304</us-gaap:InventoryFinishedGoods>
  <us-gaap:InventoryNet id="Tag346" contextRef="I2015-12-31" unitRef="USD" decimals="0">10715939</us-gaap:InventoryNet>
  <us-gaap:DebtLongtermAndShorttermCombinedAmount id="Tag347" contextRef="I2014-12-31" unitRef="USD" decimals="0">237140036</us-gaap:DebtLongtermAndShorttermCombinedAmount>
  <us-gaap:UseOfEstimates id="Tag348" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"&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 Group 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, useful lives and residual values of long-lived assets, impairment for long lived assets, valuation allowances for deferred tax assets, interest capitalization and certain assumptions used in the computation of share-based compensation and related forfeiture rates.&lt;/font&gt; &lt;font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"&gt;The Group revised the estimates of expected useful lives of property, plant and equipment on January 1, 2014, please refers to Note 2 (i) for details.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:UseOfEstimates>
  <us-gaap:ConcentrationRiskCreditRisk id="Tag349" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, accounts receivable and notes receivable.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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. Allowance for doubtful accounts is $&lt;font&gt;3,189,110&lt;/font&gt;&amp;#160;and $&lt;font&gt;1,087,465&lt;/font&gt; as of December 31, 2014 and 2015, respectively, based on the aging of the receivables and the Group's assessment of the customers' credit risk.&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The following customers accounted for 10% or more of accounts receivable:&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 86%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Accounts&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;receivable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 68%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer C&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,213,393&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer J&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font&gt;1,578,947&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,996,042&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer M&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,330,145&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer H&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,071,415&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;6,354,510&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer N&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,315,035&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer B&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,299,732&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div align="left" style="margin-top: 0; margin-bottom: 0;"&gt;
&lt;div style="font-size: 1pt; border-top: Black 1pt solid; width: 15%;"&gt;&amp;#160;&lt;/div&gt;
&lt;/div&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0" style="width: 100%;"&gt;

&lt;tr&gt;
&lt;td style="width: 0.25in; padding-right: 0.8pt;"&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="padding-right: 0.8pt;"&gt;
&lt;div&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Represents less than 10%&lt;/font&gt;&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;"&gt;From time to time, certain accounts receivable balances are settled in the form of notes receivable. As of December 31, 2014 and 2015, notes receivable represents bank acceptance drafts that are non-interest bearing and due within 6 months.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Total sales to the Group's largest customers whose sales constitute over 10% of revenue accounted for approximately &lt;font&gt;30&lt;/font&gt;%, &lt;font&gt;23&lt;/font&gt;% and &lt;font&gt;51&lt;/font&gt;% of revenues for the years ended December 31, 2013, 2014 and 2015, respectively. The Group is substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reduction in the Group's dependence on these customers is likely to take time and there can be no assurance&amp;#160;that the Group will succeed in reducing such dependence.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Furthermore, &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;all of the Group's long-term bank borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Group's short term bank borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Group's access to credit is significantly reliant on Daqo Group's ability and willingness to continue to provide sufficient financial support&lt;/font&gt;.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ConcentrationRiskCreditRisk>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag350" contextRef="I2015-12-31_ChongqingRuralCommercialBankMember" unitRef="CNY" decimals="-6">625000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag351" contextRef="D2015-01-01_To_2015-12-31_ChongqingRuralCommercialBankMember" unitRef="USD" decimals="-5">96200000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy id="Tag352" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Restricted cash of&amp;#160;$&lt;font&gt;22,169,236&lt;/font&gt;&amp;#160;and $&lt;font&gt;19,062,714&lt;/font&gt;&amp;#160;as of December 31, 2014 and 2015, respectively, are restricted bank 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;/div&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
  <us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy id="Tag353" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0 0pt 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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.&amp;#160;Provisions for allowance for doubtful accounts are recorded as general and administrate expense in the consolidated statements of operations.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy>
  <us-gaap:ResearchAndDevelopmentExpensePolicy id="Tag354" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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, 2014 and 2015, the Group 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;/div&gt;</us-gaap:ResearchAndDevelopmentExpensePolicy>
  <us-gaap:BusinessExitCosts1 id="Tag355" contextRef="D2014-01-01_To_2014-12-31_SellingGeneralAndAdministrativeExpensesMember" unitRef="USD" decimals="-5">800000</us-gaap:BusinessExitCosts1>
  <us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock id="Tag356" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer" align="left" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Spare parts&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;6,385,388&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;6,052,315&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Prepaid Value added tax (&amp;#147;VAT&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5,857,017&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5,552,772&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Prepaid insurance fee&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;226,564&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;347,631&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Others&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;366,900&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;282,423&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;12,835,869&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;12,235,141&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock>
  <us-gaap:InventoryRawMaterials id="Tag357" contextRef="I2014-12-31" unitRef="USD" decimals="0">1362944</us-gaap:InventoryRawMaterials>
  <us-gaap:InventoryRawMaterials id="Tag358" contextRef="I2015-12-31" unitRef="USD" decimals="0">2343104</us-gaap:InventoryRawMaterials>
  <us-gaap:InventoryWorkInProcess id="Tag359" contextRef="I2014-12-31" unitRef="USD" decimals="0">5411360</us-gaap:InventoryWorkInProcess>
  <us-gaap:InventoryPolicyTextBlock id="Tag360" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 31, 2013, 2014 and 2015 were $&lt;font&gt;29,905,734&lt;/font&gt;, $ &lt;font&gt;175,568&lt;/font&gt;&amp;#160;and $&lt;font&gt;62,422&lt;/font&gt;&amp;#160;respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;</us-gaap:InventoryPolicyTextBlock>
  <dq:PrepaidLandUseRightsPolicyTextBlock id="Tag361" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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 $&lt;font&gt;781,706&lt;/font&gt;, $&lt;font&gt;628,052&lt;/font&gt;&amp;#160;and $&lt;font&gt;595,716&lt;/font&gt;, for the years ended December 31, 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;</dq:PrepaidLandUseRightsPolicyTextBlock>
  <us-gaap:ScheduleOfInventoryCurrentTableTextBlock id="Tag362" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; /* margin-left: 23pt;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ffffff;"&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Raw materials&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;1,362,944&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;2,343,104&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Work-in-process&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;5,411,360&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;5,626,531&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Finished goods&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&lt;font&gt;2,807,480&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&lt;font&gt;2,746,304&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;9,581,784&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;10,715,939&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag363" contextRef="I2014-12-31_BuildingMember" unitRef="USD" decimals="0">233230935</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag364" contextRef="I2015-12-31_BuildingMember" unitRef="USD" decimals="0">313290516</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag365" contextRef="I2014-12-31_MachineryAndEquipmentMember" unitRef="USD" decimals="0">351409724</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock id="Tag366" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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'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.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;During each of the three year ended December 31, 2013, 2014 and 2015, the impairment changes were $&lt;font&gt;158,424,827&lt;/font&gt;, $&lt;font&gt;nil&lt;/font&gt;&amp;#160; and $&lt;font&gt;1,622,588&lt;/font&gt;, respectively. The impairment loss incurred during the year ended December 31, 2013 was related to the buildings and plant of polysilicon asset group 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.&amp;#160;The impairment loss of $1.6 million incurred during the year ended December 31, 2015 was related to the identified relocation assets in Chongqing that were not transferrable and could not be reutilized by its Xinjiang expansion project. Please refer to Note 3 for further information.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
  <us-gaap:RevenueRecognitionPolicyTextBlock id="Tag367" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="text-decoration: underline;"&gt;Product sales&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="text-decoration: underline;"&gt;Service revenue&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;Group also provides OEM services to customers, such as the provision of service to process polysilicon into ingots and wafers. The Group 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;/font&gt;.&lt;/p&gt;
&lt;/div&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag368" contextRef="D2015-01-01_To_2015-12-31_ChongqingRuralCommercialBankMember" unitRef="CNY" decimals="-6">625000000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock id="Tag369" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 31, 2013, 2014 and 2015 were $&lt;font&gt;5,249,788&lt;/font&gt;, $&lt;font&gt;926,173&lt;/font&gt;&amp;#160;and $&lt;font&gt;3,578,865&lt;/font&gt;, respectively.&amp;#160;For government grants related to assets are recorded as long term liabilities and amortized on a straight-line basis over the useful life of the associated asset as an offset to depreciation expense. The Group&amp;#160;received government grants related to assets of $&lt;font&gt;1,172,160&lt;/font&gt;, $&lt;font&gt;113,735&lt;/font&gt;&amp;#160;and $&lt;font&gt;690,889&lt;/font&gt;&amp;#160;during the years ended December 31, 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy id="Tag370" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group recognizes share-based compensation in the consolidated 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 or&amp;#160;cost of sales, depending on the job functions of the grantees. &lt;font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"&gt;For the years ended December 31, 2013, 2014 and 2015, the Group recognized share-based compensation expense of $1,881,401, &amp;#160;$1,792,819 and $3,687,951, respectively, which was classified as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Selling, general and administrative expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,743,768&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,544,078&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3,323,948&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Research and development expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;60,987&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;12,310&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Cost of sales&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;76,646&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;236,431&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;364,003&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2.80pt double;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;1,881,401&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;1,792,819&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;3,687,951&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <us-gaap:ComprehensiveIncomePolicyPolicyTextBlock id="Tag371" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;(u) Comprehensive income&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Our financial statements include the Consolidated Statements of Comprehensive (Loss) Income as required by new accounting guidance, which we retrospectively adopted during 2012. As of December 31 2014 and 2015, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation adjustments.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
  <us-gaap:LongtermDebtWeightedAverageInterestRate id="Tag372" contextRef="I2014-12-31_LineOfCreditMember_1" unitRef="Pure" decimals="3">0.069</us-gaap:LongtermDebtWeightedAverageInterestRate>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths id="Tag373" contextRef="I2015-12-31" unitRef="USD" decimals="0">51576265</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
  <us-gaap:FairValueOfFinancialInstrumentsPolicy id="Tag374" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group&amp;#160;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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;" width="100%"&gt;

&lt;tr&gt;
&lt;td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Level 1&amp;#151;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;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;

&lt;tr&gt;
&lt;td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Level 2&amp;#151;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;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;

&lt;tr&gt;
&lt;td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Level 3&amp;#151;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's own assumptions about the assumptions that market participants would use to price an asset or liability.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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's consolidated assets, liabilities, shareholders' equity and net income or loss.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group'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 bank 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The fair values of the Group's plant and equipment and long-term bank borrowings as of December 31, 2014 and 2015 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;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
  <us-gaap:ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy id="Tag375" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group classified the ownership interest in the consolidated entity held by a party other than the Group&amp;#160;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. Xinjiang Daqo&amp;#160;Investment's equity interests in Xinjiang&amp;#160;Daqo&amp;#160;are presented as a noncontrolling interest as of December 31, 2015. The non-controlling interest was $&lt;font&gt;1,302,027&lt;/font&gt; as of December 31, 2015.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy>
  <us-gaap:StockholdersEquityPolicyTextBlock id="Tag376" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;On July 9, 2012, the Company's Board of Directors authorized the Company to repurchase up to $&lt;font&gt;5&lt;/font&gt; 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, 2013, 2014 and 2015, the Company repurchased &lt;font&gt;nil&lt;/font&gt;, &lt;font&gt;nil&lt;/font&gt; and &amp;#160;&lt;font&gt;2,356,900&lt;/font&gt;&amp;#160;shares for a total purchase price of &lt;font&gt;nil&lt;/font&gt;, &lt;font&gt;nil&lt;/font&gt; and $&lt;font&gt;1,350,164&lt;/font&gt;. The Company has legal title to the shares, and no other party has the voting rights associated with these shares.&lt;/p&gt;
&lt;/div&gt;</us-gaap:StockholdersEquityPolicyTextBlock>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo id="Tag377" contextRef="I2015-12-31" unitRef="USD" decimals="0">53885650</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock id="Tag378" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;On August 27, 2014, the FASB issued ASU 2015-15, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements (or within one year after the date on which the financial statements are available to be issued, when applicable). Further, an entity must provide certain disclosures if there is &amp;#147;substantial doubt about the entity's ability to continue as a going concern.&amp;#148; The ASU is effective for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The Group&amp;#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;In May 2014, the FASB issued a new pronouncement which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition&amp;#151;Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g. assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles&amp;#151;Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 1: Identify the contract(s) with a customer.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 2: Identify the performance obligations in the contract.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 3: Determine the transaction price.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 4: Allocate the transaction price to the performance obligations in the contract.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. An entity should apply the amendments in this ASU using one of the following two methods:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;1. Retrospectively to each prior reporting period presented and the entity may elect any of the following practical expedients:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;2. Retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. If an entity elects this transition method it also should provide the additional disclosures in reporting periods that include the date of initial application of:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In January 2015, the FASB issued a new pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. This ASU required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. This ASU will also align more closely U.S. GAAP income statement presentation guidance with IAS 1, Presentation of Financial Statements, which prohibits the presentation and disclosure of extraordinary items. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Group has already considered the impact on its consolidated financial statements as of December 31, 2015.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In July 2015, the FASB issued a new pronouncement Inventory (Topic 330): Simplifying the Measurement of Inventory. The current guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In November, 2015, the FASB issued a new pronouncement which changes how deferred taxes are classified on organizations' balance sheets. The ASU eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In January, 2016, the FASB issued a new pronouncement which is intended to improve the recognition and measurement of financial instruments. The ASU affects public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;The new guidance makes targeted improvements to existing U.S. GAAP by:&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as &amp;#147;own credit&amp;#148;) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;"&gt;The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. The Group&amp;#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/p&gt;
&lt;p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;"&gt;On March 30, 2016, the FASB&amp;#160;issued ASU&amp;#160;2016-09, which simplifies several aspects&amp;#160;of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new guidance, which is part of the Board's simplification initiative,&amp;#160;also contains two practical expedients under which nonpublic entities can use the simplified method&amp;#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards which nonpublic entities can use the simplified method&amp;#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;In the period of adoption, entities are
required to disclose:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;&amp;#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;font style="font-family: Symbol"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;The nature of and reason for the changes in accounting principle; and&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;font style="font-family: Symbol"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;Any cumulative effects of the changes on retained earnings or other components of equity as of the date of adoption.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;In addition, because the change in presentation
in the statement of cash flows related to excess tax benefits can be applied either prospectively or retrospectively, entities
are required to disclose either (1) &amp;#147;that prior periods have not been adjusted&amp;#148; if the change is applied prospectively
or (2) the &amp;#147;effect of the change on prior periods retrospectively adjusted&amp;#148; if the change is applied retrospectively.
For the change in presentation in the statement of cash flows related to statutory tax withholding requirements, entities are required
to disclose the &amp;#147;effect of the change on prior periods retrospectively adjusted.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;"&gt;For public business entities, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that apply must be adopted in the same period. In addition, if early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/p&gt;
&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag379" contextRef="I2015-12-31_MachineryAndEquipmentMember" unitRef="USD" decimals="0">389373554</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag380" contextRef="I2014-12-31_FurnitureAndFixturesMember" unitRef="USD" decimals="0">18469913</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag381" contextRef="I2015-12-31_FurnitureAndFixturesMember" unitRef="USD" decimals="0">22418768</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag382" contextRef="I2014-12-31_VehiclesMember" unitRef="USD" decimals="0">257408</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Tag383" contextRef="I2014-12-31_DepreciableAssetMember" unitRef="USD" decimals="0">169264463</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment id="Tag384" contextRef="I2015-12-31_DepreciableAssetMember" unitRef="USD" decimals="0">188680279</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
  <us-gaap:PropertyPlantAndEquipmentNet id="Tag385" contextRef="I2014-12-31_DepreciableAssetMember" unitRef="USD" decimals="0">434103517</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentNet id="Tag386" contextRef="I2015-12-31_DepreciableAssetMember" unitRef="USD" decimals="0">536695889</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag387" contextRef="I2014-12-31_ConstructionInProgressMember" unitRef="USD" decimals="0">124902602</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:SignificantAccountingPoliciesTextBlock id="Tag388" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;The accompanying consolidated financial statements have been prepared assuming that the Group 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 Group's ability to generate cash flows from operations, and the Group'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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;As of December 31, 2015, the Company's current liabilities exceed its current assets by $&lt;font&gt;186.6&lt;/font&gt;&amp;#160;million. While the Company had cash and cash equivalents of $ &lt;font&gt;14.5&lt;/font&gt;&amp;#160;million, short-term borrowings, including current portion of long-term bank borrowings of &amp;#160;$&lt;font&gt;123.9&lt;/font&gt; million will be due within one year. Additionally, the Company has capital commitments of $&lt;font&gt;15.5&lt;/font&gt;&amp;#160;million relating to the purchases of property, plant and equipment to be fulfilled in the next twelve months.&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;However, the Group&amp;#160;regards the going concern assumption as appropriate considering the following plans and actions:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The Group generated net income and positive cash flow from operations for &lt;font&gt;two&lt;/font&gt; consecutive years.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The Group has performed a review of its cash flow forecasts for the twelve month period ending December 31, 2016, and believes that its operating cash flow will be positive during the twelve month period ending December 31, 2016.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The Group has or is in the process of taking a number of cost reduction initiatives, including the new hydrochlorination system, technology improvement and polysilicon capacity expansion in Xinjiang.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;4.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;On February 22, 2016, the Group obtained a letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Group to ensure the Group has the funds required to satisfy its obligations as they come due in the normal course during the twelve months ending December 31, 2016. Further, the support letter provides that Daqo Group will not require the Group to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group before January 1, 2017, which at December 31, 2015 totaled $&lt;font&gt;46.4&lt;/font&gt; million.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0.25in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5.&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;As of December 31, 2015, the Group has available bank accepted note facilities of $&lt;font&gt;22.6&lt;/font&gt; million. 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 of the loans and believes the Company will continue to be able to do so.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in;"&gt;Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Group'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;/div&gt;
&lt;/div&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;(b) Basis of consolidations&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"&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 Group 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, useful lives and residual values of long-lived assets, impairment for long lived assets, valuation allowances for deferred tax assets, interest capitalization and certain assumptions used in the computation of share-based compensation and related forfeiture rates.&lt;/font&gt; &lt;font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;"&gt;The Group revised the estimates of expected useful lives of property, plant and equipment on January 1, 2014, please refers to Note 2 (i) for details.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, accounts receivable and notes receivable.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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. Allowance for doubtful accounts is $&lt;font&gt;3,189,110&lt;/font&gt;&amp;#160;and $&lt;font&gt;1,087,465&lt;/font&gt; as of December 31, 2014 and 2015, respectively, based on the aging of the receivables and the Group's assessment of the customers' credit risk.&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The following customers accounted for 10% or more of accounts receivable:&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 86%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Accounts&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;receivable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 68%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer C&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,213,393&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer J&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font&gt;1,578,947&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,996,042&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer M&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,330,145&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer H&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,071,415&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;6,354,510&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer N&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,315,035&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer B&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,299,732&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div align="left" style="margin-top: 0; margin-bottom: 0;"&gt;
&lt;div style="font-size: 1pt; border-top: Black 1pt solid; width: 15%;"&gt;&amp;#160;&lt;/div&gt;
&lt;/div&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0" style="width: 100%;"&gt;

&lt;tr&gt;
&lt;td style="width: 0.25in; padding-right: 0.8pt;"&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="padding-right: 0.8pt;"&gt;
&lt;div&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Represents less than 10%&lt;/font&gt;&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;"&gt;From time to time, certain accounts receivable balances are settled in the form of notes receivable. As of December 31, 2014 and 2015, notes receivable represents bank acceptance drafts that are non-interest bearing and due within 6 months.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Total sales to the Group's largest customers whose sales constitute over 10% of revenue accounted for approximately &lt;font&gt;30&lt;/font&gt;%, &lt;font&gt;23&lt;/font&gt;% and &lt;font&gt;51&lt;/font&gt;% of revenues for the years ended December 31, 2013, 2014 and 2015, respectively. The Group is substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reduction in the Group's dependence on these customers is likely to take time and there can be no assurance&amp;#160;that the Group will succeed in reducing such dependence.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Furthermore, &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;all of the Group's long-term bank borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Group's short term bank borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Group's access to credit is significantly reliant on Daqo Group's ability and willingness to continue to provide sufficient financial support&lt;/font&gt;.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Restricted cash of&amp;#160;$&lt;font&gt;22,169,236&lt;/font&gt;&amp;#160;and $&lt;font&gt;19,062,714&lt;/font&gt;&amp;#160;as of December 31, 2014 and 2015, respectively, are restricted bank 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;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0 0pt 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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.&amp;#160;Provisions for allowance for doubtful accounts are recorded as general and administrate expense in the consolidated statements of operations.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 31, 2013, 2014 and 2015 were $&lt;font&gt;29,905,734&lt;/font&gt;, $ &lt;font&gt;175,568&lt;/font&gt;&amp;#160;and $&lt;font&gt;62,422&lt;/font&gt;&amp;#160;respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;


&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; margin-left: 0.1px; margin-right: 0.1px;" width="85%"&gt;

&lt;tr&gt;
&lt;td style="vertical-align: top; width: 82%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Buildings and plant&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; width: 18%; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;30&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Machinery and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;15&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Furniture, fixtures and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;3&lt;/font&gt;-&lt;font&gt;5&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Motor vehicles&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;6&lt;/font&gt; years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group&amp;#160;reassesses the reasonableness of the estimates of useful lives and residual values of long-lived assets when events or changes in circumstances indicate that the useful lives and residual values of a major asset or a major category of assets may not be reasonable. Factors that the Group&amp;#160;considers in deciding when to perform an analysis of useful lives and residual values of long-lived assets include, but are not limited to, significant variance of a business or product line in relation to expectations, significant deviation from industry or economic trends, and significant changes or planned changes in the use of the assets. The analysis will be performed at the asset or asset category with the reference to the assets' conditions, current technologies, market, and future plan of usage and the useful lives of major competitors.&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;In &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 33.7333335876465px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;2013, the Company decided to relocate a majority of Chongqing's polysilicon assets to Xinjiang. As part of the decision to make significant investment to relocate the assets, the Company&amp;#160;revisited the expectation as to the useful lives of these assets. Based on this review, the Company determined that the condition of its major assets, having now been in operations for a meaningful percentage of the original estimated lives, were in better condition, than the original useful life expectation had predicted, accordingly, the Company with the assistant of an independent valuation firm reassessed the remaining economic useful life of the polysilicon assets in both Chongqing and Xinjiang. The analysis was completed in the first quarter of 2014&lt;/font&gt;. Therefore, the Company revised the estimates of expected useful lives of long-lived assets from January 1, 2014. The useful lives of machinery and equipment were expended from &lt;font&gt;10&lt;/font&gt; years to &lt;font&gt;15&lt;/font&gt; years, while buildings and structures were expended from &lt;font&gt;20&lt;/font&gt; years to &lt;font&gt;30&lt;/font&gt; years. No changes were made to furniture, fixtures and equipment, or motor vehicles. During the years ended December 31, 2014 and 2015, the change in useful lives reduced depreciation expense of approximately $&lt;font&gt;18.7&lt;/font&gt;&amp;#160;million and $&lt;font&gt;18.7&lt;/font&gt; million, a majority of which was recorded in "Total cost of revenues", accordingly the impact on net income and basic net income per share are $&lt;font&gt;18.7&lt;/font&gt;&amp;#160;million and $&lt;font&gt;0.09&lt;/font&gt;&amp;#160;per ordinary share, and $&lt;font&gt;18.7&lt;/font&gt; million and $&lt;font&gt;0.07&lt;/font&gt; per ordinary share, respectively.&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Group&amp;#160;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 31, 2013, 2014 and 2015 was $&lt;font&gt;nil&lt;/font&gt;, $&lt;font&gt;1,960,259&lt;/font&gt;&amp;#160;and $&lt;font&gt;2,825,879&lt;/font&gt;&amp;#160;respectively.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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 $&lt;font&gt;781,706&lt;/font&gt;, $&lt;font&gt;628,052&lt;/font&gt;&amp;#160;and $&lt;font&gt;595,716&lt;/font&gt;, for the years ended December 31, 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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'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.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;During each of the three year ended December 31, 2013, 2014 and 2015, the impairment changes were $&lt;font&gt;158,424,827&lt;/font&gt;, $&lt;font&gt;nil&lt;/font&gt;&amp;#160; and $&lt;font&gt;1,622,588&lt;/font&gt;, respectively. The impairment loss incurred during the year ended December 31, 2013 was related to the buildings and plant of polysilicon asset group 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.&amp;#160;The impairment loss of $1.6 million incurred during the year ended December 31, 2015 was related to the identified relocation assets in Chongqing that were not transferrable and could not be reutilized by its Xinjiang expansion project. Please refer to Note 3 for further information.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="text-decoration: underline;"&gt;Product sales&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="text-decoration: underline;"&gt;Service revenue&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;Group also provides OEM services to customers, such as the provision of service to process polysilicon into ingots and wafers. The Group 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;/font&gt;.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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. Cost of revenues does not include shipping and handling expenses, therefore the Group's cost of revenues may not be comparable to other companies which include such expense in their costs of revenues.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 $&lt;font&gt;1,901,384&lt;/font&gt;, $&lt;font&gt;2,054,786&lt;/font&gt;&amp;#160;and $&lt;font&gt;2,708,962&lt;/font&gt;, respectively for the years ended December 31, 2013, 2014 and 2015.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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, 2014 and 2015, the Group 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;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 31, 2013, 2014 and 2015 were $&lt;font&gt;5,249,788&lt;/font&gt;, $&lt;font&gt;926,173&lt;/font&gt;&amp;#160;and $&lt;font&gt;3,578,865&lt;/font&gt;, respectively.&amp;#160;For government grants related to assets are recorded as long term liabilities and amortized on a straight-line basis over the useful life of the associated asset as an offset to depreciation expense. The Group&amp;#160;received government grants related to assets of $&lt;font&gt;1,172,160&lt;/font&gt;, $&lt;font&gt;113,735&lt;/font&gt;&amp;#160;and $&lt;font&gt;690,889&lt;/font&gt;&amp;#160;during the years ended December 31, 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group recognizes share-based compensation in the consolidated 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 or&amp;#160;cost of sales, depending on the job functions of the grantees. &lt;font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"&gt;For the years ended December 31, 2013, 2014 and 2015, the Group recognized share-based compensation expense of $1,881,401, &amp;#160;$1,792,819 and $3,687,951, respectively, which was classified as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Selling, general and administrative expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,743,768&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,544,078&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3,323,948&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Research and development expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;60,987&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;12,310&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Cost of sales&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;76,646&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;236,431&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;364,003&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2.80pt double;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;1,881,401&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;1,792,819&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;3,687,951&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;(s) (Loss) earnings per share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Basic (loss) earnings per ordinary share are computed by dividing the net (loss) net income 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The reporting currency of the Company&amp;#160;is the United States dollar (&amp;#147;U.S. dollar&amp;#148;). 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The financial records of the Company's PRC subsidiaries and VIE are maintained in Chinese Renminbi (&amp;#147;RMB&amp;#148;), 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The RMB is not a freely convertible currency. The State Administration for Foreign Exchange of People's Republic of China, under the authority of the People'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's aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $&lt;font&gt;24,356,970&lt;/font&gt;&amp;#160;and $&lt;font&gt;30,891,550&lt;/font&gt; as of December 31, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;(u) Comprehensive income&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Our financial statements include the Consolidated Statements of Comprehensive (Loss) Income as required by new accounting guidance, which we retrospectively adopted during 2012. As of December 31 2014 and 2015, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation adjustments.&lt;/p&gt;
&lt;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group&amp;#160;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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;" width="100%"&gt;

&lt;tr&gt;
&lt;td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Level 1&amp;#151;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;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;

&lt;tr&gt;
&lt;td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Level 2&amp;#151;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;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;

&lt;tr&gt;
&lt;td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Level 3&amp;#151;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's own assumptions about the assumptions that market participants would use to price an asset or liability.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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's consolidated assets, liabilities, shareholders' equity and net income or loss.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group'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 bank 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The fair values of the Group's plant and equipment and long-term bank borrowings as of December 31, 2014 and 2015 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;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group&amp;#160;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 Group&amp;#160;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 Group's Consolidated Financial Statements.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group classified the ownership interest in the consolidated entity held by a party other than the Group&amp;#160;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. Xinjiang Daqo&amp;#160;Investment's equity interests in Xinjiang&amp;#160;Daqo&amp;#160;are presented as a noncontrolling interest as of December 31, 2015. The non-controlling interest was $&lt;font&gt;1,302,027&lt;/font&gt; as of December 31, 2015.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;On July 9, 2012, the Company's Board of Directors authorized the Company to repurchase up to $&lt;font&gt;5&lt;/font&gt; 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, 2013, 2014 and 2015, the Company repurchased &lt;font&gt;nil&lt;/font&gt;, &lt;font&gt;nil&lt;/font&gt; and &amp;#160;&lt;font&gt;2,356,900&lt;/font&gt;&amp;#160;shares for a total purchase price of &lt;font&gt;nil&lt;/font&gt;, &lt;font&gt;nil&lt;/font&gt; and $&lt;font&gt;1,350,164&lt;/font&gt;. The Company has legal title to the shares, and no other party has the voting rights associated with these shares.&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;On August 27, 2014, the FASB issued ASU 2015-15, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements (or within one year after the date on which the financial statements are available to be issued, when applicable). Further, an entity must provide certain disclosures if there is &amp;#147;substantial doubt about the entity's ability to continue as a going concern.&amp;#148; The ASU is effective for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The Group&amp;#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;In May 2014, the FASB issued a new pronouncement which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition&amp;#151;Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g. assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles&amp;#151;Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 1: Identify the contract(s) with a customer.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 2: Identify the performance obligations in the contract.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 3: Determine the transaction price.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 4: Allocate the transaction price to the performance obligations in the contract.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. An entity should apply the amendments in this ASU using one of the following two methods:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;1. Retrospectively to each prior reporting period presented and the entity may elect any of the following practical expedients:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;2. Retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. If an entity elects this transition method it also should provide the additional disclosures in reporting periods that include the date of initial application of:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In January 2015, the FASB issued a new pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. This ASU required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. This ASU will also align more closely U.S. GAAP income statement presentation guidance with IAS 1, Presentation of Financial Statements, which prohibits the presentation and disclosure of extraordinary items. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Group has already considered the impact on its consolidated financial statements as of December 31, 2015.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In July 2015, the FASB issued a new pronouncement Inventory (Topic 330): Simplifying the Measurement of Inventory. The current guidance requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments do not apply to inventory that is measured using last-in, first-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using first-in, first-out (FIFO) or average cost. An entity should measure in scope inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In November, 2015, the FASB issued a new pronouncement which changes how deferred taxes are classified on organizations' balance sheets. The ASU eliminates the current requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The amendments apply to all organizations that present a classified balance sheet. For public companies, the amendments are effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;In January, 2016, the FASB issued a new pronouncement which is intended to improve the recognition and measurement of financial instruments. The ASU affects public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;The new guidance makes targeted improvements to existing U.S. GAAP by:&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"&gt;&lt;font style="font-size: 10.0pt;"&gt;&amp;#149; Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as &amp;#147;own credit&amp;#148;) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;"&gt;The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. The Group&amp;#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/p&gt;
&lt;p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;"&gt;On March 30, 2016, the FASB&amp;#160;issued ASU&amp;#160;2016-09, which simplifies several aspects&amp;#160;of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new guidance, which is part of the Board's simplification initiative,&amp;#160;also contains two practical expedients under which nonpublic entities can use the simplified method&amp;#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards which nonpublic entities can use the simplified method&amp;#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;In the period of adoption, entities are
required to disclose:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;&amp;#160;&lt;/p&gt;&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;font style="font-family: Symbol"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;The nature of and reason for the changes in accounting principle; and&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"&gt;&lt;tr style="vertical-align: top"&gt;
&lt;td style="width: 0.25in"&gt;&lt;/td&gt;&lt;td style="width: 0.25in"&gt;&lt;font style="font-family: Symbol"&gt;&amp;#149;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;Any cumulative effects of the changes on retained earnings or other components of equity as of the date of adoption.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"&gt;In addition, because the change in presentation
in the statement of cash flows related to excess tax benefits can be applied either prospectively or retrospectively, entities
are required to disclose either (1) &amp;#147;that prior periods have not been adjusted&amp;#148; if the change is applied prospectively
or (2) the &amp;#147;effect of the change on prior periods retrospectively adjusted&amp;#148; if the change is applied retrospectively.
For the change in presentation in the statement of cash flows related to statutory tax withholding requirements, entities are required
to disclose the &amp;#147;effect of the change on prior periods retrospectively adjusted.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;"&gt;For public business entities, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that apply must be adopted in the same period. In addition, if early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;

&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife id="Tag389" contextRef="D2014-01-01_To_2014-12-31_MachineryAndEquipmentMember">P10Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife id="Tag390" contextRef="D2014-01-01_To_2014-12-31_BuildingMember">P20Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:ProfitLoss id="Tag391" contextRef="D2014-01-01_To_2014-12-31_ServiceLifeMember" unitRef="USD" decimals="-5">18700000</us-gaap:ProfitLoss>
  <us-gaap:EarningsPerShareBasic id="Tag392" contextRef="D2014-01-01_To_2014-12-31_ServiceLifeMember" unitRef="USDPerShare" decimals="2">0.09</us-gaap:EarningsPerShareBasic>
  <us-gaap:PropertyPlantAndEquipmentFairValueDisclosure id="Tag393" contextRef="I2013-12-31_CarryingReportedAmountFairValueDisclosureMember_SignificantProductionAssetsMember" unitRef="USD" decimals="-5">144700000</us-gaap:PropertyPlantAndEquipmentFairValueDisclosure>
  <us-gaap:SeveranceCosts1 id="Tag394" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="-5">800000</us-gaap:SeveranceCosts1>
  <us-gaap:BusinessExitCosts1 id="Tag395" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="-5">500000</us-gaap:BusinessExitCosts1>
  <us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock id="Tag396" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;&lt;font&gt;3&lt;/font&gt;. EXIT and DISPOSAL ACTIVITIES&lt;/strong&gt;&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;&lt;em&gt;&amp;#160; &amp;#160; &amp;#160; &amp;#160; &amp;#160; 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Starting 2013, the Group commenced 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 $ &lt;font&gt;144.7&lt;/font&gt;&amp;#160;million, from Chongqing Daqo to its Xinjiang plant. In connection with this relocation plan, the Group&amp;#160;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 Polysilicon Phase II Expansion Project plan. Therefore, the Group&amp;#160;recorded an impairment charge of $&lt;font&gt;158.4&lt;/font&gt;&amp;#160;million in connection with this decision in the second quarter of 2013 and subsequently terminated its lease arrangement with Daqo New Material on December 30, 2013. As of December 31, 2013, the Group&amp;#160;has incurred approximately $&lt;font&gt;0.8&lt;/font&gt;&amp;#160;million in employee termination costs and $&lt;font&gt;0.5&lt;/font&gt;&amp;#160;million in connection with relocation costs, all of which were recorded in selling, general and administrative expenses.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;In August 2014, the Board of Directors approved the Company to launch an early stage research for the Polysilicon Phase III Expansion Project in Xinjiang. After a&amp;#160;comprehensive analysis of the capacity and comparability of the Chongqing machinery and equipment, the Company concluded that it would be more efficient to use part of the machinery and equipment in Phrase III, rather than using all of them in Phrase II Expansion Project. As a result, the Company has changed its original relocation plan and determined to utilize a portion of these equipment and machinery in Polysilicon Phase III Expansion Project in Xinjiang.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;As of December 31, 2014, about $&lt;font&gt;46.1&lt;/font&gt;&amp;#160;million (equivalently RMB&amp;#160;&lt;font&gt;286.4&lt;/font&gt; million) of $&lt;font&gt;116.1&lt;/font&gt; million (equivalently RMB&lt;font&gt;720.5&lt;/font&gt; million) of the machinery and equipment have been relocated from Chongqing Daqo to its Xinjiang plant for Polysilicon Phase II Expansion Project, which is expected to be fully ramp up by the end of the second quarter of 2015. The Company&amp;#160;expects to complete the Polysilicon Phase III Expansion Project by early 2017, and the remaining machinery and equipment of $&lt;font&gt;70.0&lt;/font&gt; million (equivalently RMB&lt;font&gt;434.1&lt;/font&gt; million) will be relocated from Chongqing to Xinjiang then. The change to the original relocation plan indicated that the carrying amount of the remaining machinery and equipment of $70.0 million may not be recoverable as of December 31, 2014. The Group with the assistant of an independent valuation firm performed the recoverability&amp;#160;testing. As a result, the Group concluded that the estimated sum of the undiscounted cash flows expected to be generated from the use and eventual disposition of the polysilicon group were in substantial excess of the carrying amount, and no impairment was noted as of December 31, 2014.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;During the year ended December 31, 2014, additional&amp;#160;$&lt;font&gt;0.8&lt;/font&gt;&amp;#160;million relocation cost occurred, which was recorded in selling, general and administrative expenses. No material liabilities, including contract termination costs, are recorded in connection with this relocation plan as of December 31, 2014.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; line-height: normal; font-size: 11pt; font-family: Calibri, sans-serif;"&gt;&lt;font style="font-size: 10.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';"&gt;As originally planned, the Group has fully ramp up its Polysilicon Phase II Expansion Project since August 2015, and then the capacity of Xinjiang Daqo is increased from 6,150MT to 12,150MT. Additionally, in July 2015, the Board of Directors approved the first stage of Phase III Expansion Project, which is expected to increase the capacity from 12,150 MT to 18,000 MT. The Company plans to commence initial production and fully ramp up this expansion project by the first quarter and second quarter of 2017 respectively. Construction and equipment installation is expected to be completed by the end of 2016. In 2015, the Group has already started initial work, including but not limited to applications for relevant government permits and approvals.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; line-height: normal; font-size: 11pt; font-family: Calibri, sans-serif;"&gt;&lt;font style="font-size: 10.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';"&gt;&lt;/font&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; line-height: normal; font-size: 11pt; font-family: Calibri, sans-serif;"&gt;&lt;font style="font-size: 10.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';"&gt;As a significant part of Phase III Expansion Project in Xinjiang, the Group&amp;#160;is in the process of relocating and repurposing the remaining polysilicon machinery and equipment in Chongqing&amp;#160;of $&lt;font&gt;59.1&lt;/font&gt; million (equivalently RMB&lt;font&gt;383.9&lt;/font&gt; million). In November 2015, the Group together with a professional transport company reviewed all the remaining assets for the relocation preparation under the Phase III Expansion Project. Along with the complicated and comprehensive relocation preparation, the Group&amp;#160;identified assets of $&lt;font&gt;1.6&lt;/font&gt; million that were not transferrable and could not be reutilized by its Xinjiang expansion project. Accordingly, an impairment charge of $&lt;font&gt;1.6&lt;/font&gt; million was recognized as of December 31, 2015. In late 2015, the polysilicon machinery and equipment in Chongqing of $&lt;font&gt;1.1&lt;/font&gt; million (equivalently RMB&lt;font&gt;7.0&lt;/font&gt; million) was relocated from Chongqing to Xinjiang. To keep these machinery and equipment in good condition in Chongqing, the Company is required to spend approximately $&lt;font&gt;0.3&lt;/font&gt;&amp;#160;million on a quarterly basis, including $&lt;font&gt;0.2&lt;/font&gt;&amp;#160;million wages and $&lt;font&gt;0.1&lt;/font&gt;&amp;#160;million electricity fees. The Company believe that the remaining polysilicon machinery and equipment in Chongqing will be gradually relocated and incorporated in the expansion project in Xinjiang&amp;#160;during 2016.&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="font-size: 10.0pt; line-height: 115%; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;"&gt;During the year ended December 31, 2015, additional $&lt;font&gt;0.1&lt;/font&gt; million relocation cost occurred, which was recorded in selling, general and administrative expenses. No material liabilities, including contract termination costs, are recorded in connection with this relocation plan as of December 31, 2015, and the Company expects to incur additional costs of $&lt;font&gt;2.2&lt;/font&gt; million in relocating the equipment.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock>
  <dq:PropertyPlantAndEquipmentRelocated id="Tag397" contextRef="I2014-12-31_CarryingReportedAmountFairValueDisclosureMember_SignificantProductionAssetsMember" unitRef="USD" decimals="-5">46100000</dq:PropertyPlantAndEquipmentRelocated>
  <us-gaap:AllowanceForDoubtfulAccountsReceivable id="Tag398" contextRef="I2012-12-31" unitRef="USD" decimals="0">1592467</us-gaap:AllowanceForDoubtfulAccountsReceivable>
  <us-gaap:AllowanceForDoubtfulAccountsReceivable id="Tag399" contextRef="I2013-12-31" unitRef="USD" decimals="0">7160782</us-gaap:AllowanceForDoubtfulAccountsReceivable>
  <us-gaap:AllowanceForDoubtfulAccountsReceivable id="Tag400" contextRef="I2014-12-31" unitRef="USD" decimals="0">3189110</us-gaap:AllowanceForDoubtfulAccountsReceivable>
  <dq:AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect id="Tag401" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">-147928</dq:AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect>
  <dq:AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect id="Tag402" contextRef="D2015-01-01_To_2015-12-31" unitRef="USD" decimals="0">-75078</dq:AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect>
  <us-gaap:AllowanceForDoubtfulAccountsReceivable id="Tag403" contextRef="I2015-12-31" unitRef="USD" decimals="0">1087465</us-gaap:AllowanceForDoubtfulAccountsReceivable>
  <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock id="Tag404" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;5. ALLOWANCES FOR DOUBTFUL RECEIVABLES&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;"&gt;The Group made provisions for doubtful accounts receivables in the aggregate amount of $5,482,019 during the year ended December 31, 2013. The Group reversed provision for doubtful accounts receivables in the aggregate amount of $3,823,744 and $2,026,567 during the year ended 2014 and 2015 respectively.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;"&gt;&amp;#160;&amp;#160;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Analysis of allowances for accounts receivable is as follows:&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer" style="margin-left: 0.27in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; margin-left: 0px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Beginning of the year&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,592,467&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;7,160,782&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3,189,110&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Allowances (Reversal) during the year&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5,482,019&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(3,823,744&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(2,026,567&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Foreign exchange effect&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;86,296&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(147,928&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(75,078&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Closing balance&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;7,160,782&lt;/font&gt;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3,189,110&lt;/font&gt;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,087,465&lt;/font&gt;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 23pt; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;As of December 31, 2013, the Group provided full allowance for certain long aging receivables based on available information on the customer's deteriorated credit risks and poor financial performance. Along with the recovery of solar industry and continued legal actions, the Group was able to collect payments on these receivable, as such, allowance of $&lt;font&gt;3,823,744&lt;/font&gt;&amp;#160;and $&lt;font&gt;2,026,567&lt;/font&gt; previously recorded have been reversed in 2014 and 2015 respectively.&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock>
  <us-gaap:AllowanceForDoubtfulAccountsReceivableRecoveries id="Tag405" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">3823744</us-gaap:AllowanceForDoubtfulAccountsReceivableRecoveries>
  <us-gaap:OtherInventoriesSpareParts id="Tag406" contextRef="I2014-12-31" unitRef="USD" decimals="0">6385388</us-gaap:OtherInventoriesSpareParts>
  <us-gaap:OtherInventoriesSpareParts id="Tag407" contextRef="I2015-12-31" unitRef="USD" decimals="0">6052315</us-gaap:OtherInventoriesSpareParts>
  <us-gaap:PrepaidTaxes id="Tag408" contextRef="I2014-12-31" unitRef="USD" decimals="0">5857017</us-gaap:PrepaidTaxes>
  <us-gaap:PrepaidTaxes id="Tag409" contextRef="I2015-12-31" unitRef="USD" decimals="0">5552772</us-gaap:PrepaidTaxes>
  <us-gaap:PrepaidInsurance id="Tag410" contextRef="I2014-12-31" unitRef="USD" decimals="0">226564</us-gaap:PrepaidInsurance>
  <us-gaap:PrepaidInsurance id="Tag411" contextRef="I2015-12-31" unitRef="USD" decimals="0">347631</us-gaap:PrepaidInsurance>
  <us-gaap:OtherAssetsCurrent id="Tag412" contextRef="I2015-12-31" unitRef="USD" decimals="0">282423</us-gaap:OtherAssetsCurrent>
  <us-gaap:OtherCurrentAssetsTextBlock id="Tag413" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;6. PREPAID EXPENSE AND OTHER CURRENT ASSETS&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Prepaid expense and other current assets consist of the following:&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer" align="left" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Spare parts&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;6,385,388&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;6,052,315&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Prepaid Value added tax (&amp;#147;VAT&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5,857,017&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5,552,772&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Prepaid insurance fee&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;226,564&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;347,631&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Others&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;366,900&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;282,423&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;12,835,869&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font&gt;12,235,141&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:OtherCurrentAssetsTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag414" contextRef="I2015-12-31_ConstructionInProgressMember" unitRef="USD" decimals="0">7630236</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:Depreciation id="Tag415" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">28007943</us-gaap:Depreciation>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock id="Tag416" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;8. PROPERTY, PLANT AND EQUIPMENT, NET&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Property, plant and equipment, net, consist of the following:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; /* margin-left: 23pt;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Cost&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 70%;"&gt;Buildings and plant&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;233,230,935&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;313,290,516&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Machinery and equipment&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;351,409,724&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;389,373,554&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Furniture, fixtures and equipment&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;18,469,913&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;22,418,768&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Motor vehicles&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;257,408&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;293,331&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Less: Accumulated depreciation&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;(169,264,463&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;)&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;(188,680,279&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Property,&amp;#160;plant&amp;#160;and&amp;#160;equipment,&amp;#160;net&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;434,103,517&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;536,695,889&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Construction in process&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;124,902,602&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;7,630,236&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;559,006,119&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;544,326,125&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Depreciation expense was $&lt;font&gt;52,250,595&lt;/font&gt;, $&lt;font&gt;28,007,943&lt;/font&gt;&amp;#160;and $&lt;font&gt;31,361,026&lt;/font&gt;&amp;#160;for the years ended December&amp;#160;31, 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Company&amp;#160;recognized impairments for long-lived assets of &lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;$&lt;/font&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;158,424,827&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;, $&lt;/font&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;nil&lt;/font&gt;&lt;/font&gt;&lt;/font&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&amp;#160;and $&lt;font&gt;1,622,588&lt;/font&gt;&amp;#160;during the years ended December 31, 2013, 2014 and 2015, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentTextBlock id="Tag417" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; /* margin-left: 23pt;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Cost&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 70%;"&gt;Buildings and plant&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;233,230,935&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;313,290,516&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Machinery and equipment&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;351,409,724&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;389,373,554&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Furniture, fixtures and equipment&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;18,469,913&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;22,418,768&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Motor vehicles&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;257,408&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;293,331&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Less: Accumulated depreciation&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;(169,264,463&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;)&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;(188,680,279&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Property,&amp;#160;plant&amp;#160;and&amp;#160;equipment,&amp;#160;net&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;434,103,517&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;536,695,889&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Construction in process&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;124,902,602&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;7,630,236&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;559,006,119&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;544,326,125&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <us-gaap:LongTermDebtCurrent id="Tag418" contextRef="I2014-12-31" unitRef="USD" decimals="0">69360869</us-gaap:LongTermDebtCurrent>
  <us-gaap:LongTermDebtCurrent id="Tag419" contextRef="I2015-12-31" unitRef="USD" decimals="0">51576265</us-gaap:LongTermDebtCurrent>
  <us-gaap:DebtCurrent id="Tag420" contextRef="I2014-12-31" unitRef="USD" decimals="0">159803876</us-gaap:DebtCurrent>
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag421" contextRef="I2014-12-31_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" unitRef="USD" decimals="0">27389890</us-gaap:ShortTermBankLoansAndNotesPayable>
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag422" contextRef="I2015-12-31_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag423" contextRef="I2014-12-31_DebtGuaranteedByDaqoGroupAndThirdPartyMember" unitRef="USD" decimals="0">11278190</us-gaap:ShortTermBankLoansAndNotesPayable>
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag424" contextRef="I2015-12-31_DebtGuaranteedByDaqoGroupAndThirdPartyMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag425" contextRef="I2014-12-31_ShortTermCreditBorrowingsMember" unitRef="USD" decimals="0">51774927</us-gaap:ShortTermBankLoansAndNotesPayable>
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag426" contextRef="I2015-12-31_ShortTermCreditBorrowingsMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag427" contextRef="I2014-12-31" unitRef="USD" decimals="0">90443007</us-gaap:ShortTermBankLoansAndNotesPayable>
  <us-gaap:ShortTermBankLoansAndNotesPayable id="Tag428" contextRef="I2015-12-31" unitRef="USD" decimals="0">72360730</us-gaap:ShortTermBankLoansAndNotesPayable>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag429" contextRef="I2015-12-31_LineOfCreditMember" unitRef="USD" decimals="-5">22600000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:ShortTermDebtWeightedAverageInterestRate id="Tag430" contextRef="I2015-12-31" unitRef="Pure" decimals="3">0.054</us-gaap:ShortTermDebtWeightedAverageInterestRate>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag431" contextRef="I2015-12-31_HuaxiaBankMember" unitRef="USD" decimals="-5">61600000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag432" contextRef="I2015-12-31_HuaxiaBankMember" unitRef="CNY" decimals="-6">400000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag433" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember" unitRef="CNY" decimals="-6">380000000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag434" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember_FacilityOneMember" unitRef="USD" decimals="-5">20000000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag435" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember_FacilityTwoMember" unitRef="USD" decimals="-5">38500000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag436" contextRef="I2015-12-31_HuaxiaBankMember_FacilityTwoMember" unitRef="Pure" decimals="INF">0.069</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity id="Tag437" contextRef="I2015-12-31_HuaxiaBankMember" unitRef="USD" decimals="-5">3100000</us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity id="Tag438" contextRef="I2015-12-31_HuaxiaBankMember" unitRef="CNY" decimals="-6">20000000</us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity>
  <us-gaap:RepaymentsOfLinesOfCredit id="Tag439" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember" unitRef="CNY" decimals="-6">360000000</us-gaap:RepaymentsOfLinesOfCredit>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag440" contextRef="I2015-12-31_BankOfChinaMember" unitRef="USD" decimals="-5">115500000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag441" contextRef="I2015-12-31_BankOfChinaMember" unitRef="CNY" decimals="-6">750000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="Tag442" contextRef="D2015-01-01_To_2015-12-31_BankOfChinaMember" unitRef="Pure" decimals="2">0.05</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree id="Tag443" contextRef="I2015-12-31" unitRef="USD" decimals="0">18475080</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
  <us-gaap:LongTermDebt id="Tag444" contextRef="I2015-12-31" unitRef="USD" decimals="0">170124695</us-gaap:LongTermDebt>
  <us-gaap:ScheduleOfDebtTableTextBlock id="Tag445" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 96%; /* margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Short-term bank borrowings&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;90,443,007&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;72,360,730&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Long-term bank borrowings, current portion&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;69,360,869&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;51,576,265&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Total borrowings, current&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;159,803,876&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;123,936,995&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Long-term bank borrowings, non-current portion&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;77,336,160&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;118,548,430&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;237,140,036&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;242,485,425&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfDebtTableTextBlock>
  <us-gaap:ScheduleOfShortTermDebtTextBlock id="Tag446" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Short-term bank borrowing guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xiang Xu&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;27,389,890&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70px;"&gt;Short-term borrowing guaranteed by Daqo Group and related parties&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"&gt;&lt;font&gt;&lt;font&gt;72,360,730&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;Short-term borrowing guaranteed by Daqo Group and&amp;#160;a third party&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;11,278,190&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Short-term&amp;#160;credit bank borrowings&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;51,774,927&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;&lt;font&gt;90,443,007&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;&lt;font&gt;72,360,730&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfShortTermDebtTextBlock>
  <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock id="Tag447" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.3in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;strong&gt;December 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;Amount&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 85%; background-color: #cceeff;"&gt;2016&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;51,576,265&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;2017&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;53,885,650&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;2018&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;18,475,080&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;2019&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;18,475,080&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;2020&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;18,475,080&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;2021&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;&lt;font&gt;9,237,540&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;170,124,695&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; /* border-style: none none double; */border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <us-gaap:LongTermDebt id="Tag448" contextRef="I2015-12-31_LineOfCreditMember_1" unitRef="USD" decimals="0">170124695</us-gaap:LongTermDebt>
  <us-gaap:ScheduleOfDebtInstrumentsTextBlock id="Tag449" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="margin-left: 0.28in;"&gt;
&lt;table style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;" cellpadding="0" cellspacing="0"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;December 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;2014&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;2015&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt; width: 70%; background-color: #cceeff;"&gt;Borrowing from China Construction Bank&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;6,444,680&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt;"&gt;Borrowing from Huaxia Bank&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;25,778,720&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;3,079,180&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt; background-color: #cceeff;"&gt;Borrowing from Bank of China&lt;/td&gt;
&lt;td style="background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;101,503,710&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;70,821,140&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt;"&gt;Borrowing from Chongqing Rural Commercial Bank&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font&gt;12,969,919&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font&gt;96,224,375&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt;"&gt;Total&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"&gt;&lt;font&gt;146,697,029&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"&gt;&lt;font&gt;170,124,695&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent id="Tag450" contextRef="I2014-12-31" unitRef="USD" decimals="0">3309850</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent id="Tag451" contextRef="I2015-12-31" unitRef="USD" decimals="0">3524876</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:AccruedProfessionalFeesCurrent id="Tag452" contextRef="I2014-12-31" unitRef="USD" decimals="0">576786</us-gaap:AccruedProfessionalFeesCurrent>
  <us-gaap:AccruedProfessionalFeesCurrent id="Tag453" contextRef="I2015-12-31" unitRef="USD" decimals="0">776518</us-gaap:AccruedProfessionalFeesCurrent>
  <us-gaap:DebtDisclosureTextBlock id="Tag454" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;&lt;div style="display: block;"&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;div style="display: block; ;display: block;"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;9. BORROWINGS&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group's bank borrowings consisted of the following:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 96%; /* margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Short-term bank borrowings&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;90,443,007&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;72,360,730&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Long-term bank borrowings, current portion&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;69,360,869&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;51,576,265&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Total borrowings, current&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;159,803,876&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;123,936,995&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Long-term bank borrowings, non-current portion&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;77,336,160&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;118,548,430&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;237,140,036&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;242,485,425&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;Short-term bank borrowings&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group's short-term bank borrowing consisted of the following:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Short-term bank borrowing guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xiang Xu&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;27,389,890&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70px;"&gt;Short-term borrowing guaranteed by Daqo Group and related parties&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"&gt;&lt;font&gt;&lt;font&gt;72,360,730&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;Short-term borrowing guaranteed by Daqo Group and&amp;#160;a third party&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;11,278,190&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Short-term&amp;#160;credit bank borrowings&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;51,774,927&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;&lt;font&gt;90,443,007&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;strong&gt;&lt;font&gt;72,360,730&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;&amp;#160;&lt;br/&gt;&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group&amp;#160;had available credit of $&lt;font&gt;22.6&lt;/font&gt;&amp;#160;million under its short-term bank facilities with various banks as of December 31, 2015.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt;"&gt;The weight average interest rate on the short-term bank borrowing was &lt;font&gt;6.8&lt;/font&gt;% and &lt;font&gt;5.4&lt;/font&gt;% as of December 31, 2014 and 2015.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px;"&gt;&lt;b&gt;Long-term bank borrowings&lt;/b&gt;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;The&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt; long-term bank borrowings, including current portion, as of December 31, 2014 and 2015 are comprised of&lt;/font&gt;:&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;div&gt;
&lt;div style="margin-left: 0.28in;"&gt;
&lt;table style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;" cellpadding="0" cellspacing="0"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;December 31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;2014&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;2015&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt; width: 70%; background-color: #cceeff;"&gt;Borrowing from China Construction Bank&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;6,444,680&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt;"&gt;Borrowing from Huaxia Bank&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;25,778,720&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;3,079,180&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt; background-color: #cceeff;"&gt;Borrowing from Bank of China&lt;/td&gt;
&lt;td style="background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;101,503,710&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;70,821,140&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt;"&gt;Borrowing from Chongqing Rural Commercial Bank&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font&gt;12,969,919&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font&gt;96,224,375&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt;"&gt;Total&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"&gt;&lt;font&gt;146,697,029&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"&gt;&lt;font&gt;170,124,695&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;On September 28, 2011, Chongqing Daqo entered into a four-year credit facility agreement with Huaxia Bank with maximum amount of $&lt;font&gt;61.6&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;400&lt;/font&gt; million). Chongqing Daqo drew down $&lt;font&gt;58.5&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;380&lt;/font&gt; million), including: $&lt;font&gt;20.0&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;130&lt;/font&gt; million) with fixed interest rate of &lt;font&gt;6.65&lt;/font&gt;%, which is designated for working capital and $&lt;font&gt;38.5&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;250&lt;/font&gt; million) with fixed interest rate of &lt;font&gt;6.9&lt;/font&gt;% which is restricted to the purchase of fixed assets. Chongqing Daqo used the remaining facility of $&lt;font&gt;3.1&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;20&lt;/font&gt; million) through use of bank acceptance notes. As of December 31, 2015, Chongqing Daqo had repaid &lt;font&gt;55.4&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;360&lt;/font&gt; million) and had no facility available for future draw down. This credit facility is guaranteed by Daqo Group and also collateralized by Chongqing Daqo's land use right and plant amounting to $&lt;font&gt;8.1&lt;/font&gt;&amp;#160;million as of December 31, 2015.&amp;#160;The facility contains a financial covenant, and Chongqing Daqo was in compliance as of December 31, 2015.&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;On September 30, 2011, Xinjiang Daqo entered into a six-year long term facility agreement with Bank of China. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing credit amounted to $&lt;font&gt;115.5&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;750&lt;/font&gt; million&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; /* background-color: #feffc0;"&gt;),&lt;/font&gt; bearing interest at standard five-year long term interest rate issued by People's Bank of China plus &lt;font&gt;5&lt;/font&gt;%. &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;The borrowing is guaranteed by Daqo Group, Daqo New Material, two affiliated companies under Daqo Group and Mr.&amp;#160;Guangfu Xu.&amp;#160;On June 30, 2014, an amendment to this credit facility was signed between Xinjiang Daqo and Bank of China, under which machinery and equipment with a total carrying amount of&lt;/font&gt;&amp;#160;$&lt;font&gt;73.9&lt;/font&gt;&amp;#160;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;million was pledged as collaterals for this credit facility. As of December 31, 2015, Xinjiang Daqo had drawn down $&lt;font&gt;115.5&lt;/font&gt; million (RMB&lt;font&gt;750&lt;/font&gt; million) at an interest rate of &lt;font&gt;5.41&lt;/font&gt;% and repaid $&lt;font&gt;44.6&lt;/font&gt; million (RMB&lt;font&gt;290&lt;/font&gt; million) as of December 31, 2015. No facility is available for further draw down as of December 31, 2015. The borrowing contains a financial covenant, and Xinjiang Daqo was in compliance as of December 31, 2015.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt;"&gt;On June 25, 2015, Xinjiang&amp;#160;Daqo entered into a six-year long term facility agreement with Chongqing Rural Commercial Bank. Such borrowing is restricted to renovation and extension project of polysilicon and has a maximum borrowing credit amounted to $&lt;font&gt;96.2&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;625&lt;/font&gt;&amp;#160;million), with an interest rate &lt;font&gt;20&lt;/font&gt;% above the five-year long term interest rate issued by People's Bank of China. The borrowing is guaranteed by Daqo Group and four affiliated companies under Daqo&amp;#160;Group. As of December 31, 2015, Xinjiang&amp;#160;Daqo had drawn down $&lt;font&gt;96.2&lt;/font&gt;&amp;#160;million (RMB&lt;font&gt;625&lt;/font&gt;&amp;#160;million) at an interest rate of &lt;font&gt;5.8&lt;/font&gt;% and had no facility available for future draw down. There is no financial covenants associated with the facility.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The weighted average interest rate as of December 31, 2014 and 2015 for the Group's long-term bank borrowings was &lt;font&gt;6.9&lt;/font&gt;% and &lt;font&gt;5.7&lt;/font&gt;%, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The principal maturities of these long-term bank borrowings as of December 31, 2015 are as follows:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.3in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;strong&gt;December 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;Amount&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 85%; background-color: #cceeff;"&gt;2016&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;51,576,265&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;2017&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;53,885,650&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;2018&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;18,475,080&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;2019&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;18,475,080&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;2020&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;18,475,080&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;2021&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;&lt;font&gt;9,237,540&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;170,124,695&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; /* border-style: none none double; */border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;&lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:LineOfCreditFacilityInitiationDate1 id="Tag455" contextRef="D2015-01-01_To_2015-12-31_BankOfChinaMember">2011-09-30</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 id="Tag456" contextRef="D2015-01-01_To_2015-12-31_ChongqingRuralCommercialBankMember">2015-06-25</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:LineOfCreditFacilityInitiationDate1 id="Tag457" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember">2011-09-28</us-gaap:LineOfCreditFacilityInitiationDate1>
  <us-gaap:DebtInstrumentTerm id="Tag458" contextRef="D2015-01-01_To_2015-12-31_ChongqingRuralCommercialBankMember">P6Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:LongTermDebt id="Tag459" contextRef="I2015-12-31_LineOfCreditMember_ChinaConstructionBankMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:LongTermDebt id="Tag460" contextRef="I2014-12-31_LineOfCreditMember_HuaxiaBankMember" unitRef="USD" decimals="0">25778720</us-gaap:LongTermDebt>
  <us-gaap:LongTermDebt id="Tag461" contextRef="I2014-12-31_LineOfCreditMember_BankOfChinaMember" unitRef="USD" decimals="0">101503710</us-gaap:LongTermDebt>
  <us-gaap:LongTermDebt id="Tag462" contextRef="I2014-12-31_LineOfCreditMember_ChongqingRuralCommercialBankMember" unitRef="USD" decimals="0">12969919</us-gaap:LongTermDebt>
  <us-gaap:LongTermDebt id="Tag463" contextRef="I2015-12-31_LineOfCreditMember_ChongqingRuralCommercialBankMember" unitRef="USD" decimals="0">96224375</us-gaap:LongTermDebt>
  <us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent id="Tag464" contextRef="I2014-12-31" unitRef="USD" decimals="0">2263055</us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent>
  <us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent id="Tag465" contextRef="I2015-12-31" unitRef="USD" decimals="0">2298780</us-gaap:AccrualForTaxesOtherThanIncomeTaxesCurrent>
  <us-gaap:InterestPayableCurrent id="Tag466" contextRef="I2014-12-31" unitRef="USD" decimals="0">148995</us-gaap:InterestPayableCurrent>
  <us-gaap:InterestPayableCurrent id="Tag467" contextRef="I2015-12-31" unitRef="USD" decimals="0">38054</us-gaap:InterestPayableCurrent>
  <us-gaap:OtherAccountsPayableAndAccruedLiabilities id="Tag468" contextRef="I2014-12-31" unitRef="USD" decimals="0">2256977</us-gaap:OtherAccountsPayableAndAccruedLiabilities>
  <us-gaap:OtherAccountsPayableAndAccruedLiabilities id="Tag469" contextRef="I2015-12-31" unitRef="USD" decimals="0">1978603</us-gaap:OtherAccountsPayableAndAccruedLiabilities>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock id="Tag470" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Accrued expenses and other current liabilities consist of the following:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 90%; margin-left: 0.27in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Accrued payroll and welfare&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;3,309,850&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;3,524,876&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Accrued professional fees&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;576,786&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;776,518&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;Other tax payables&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;2,263,055&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;2,298,780&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Interest payable&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;148,995&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;38,054&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 20px; background-color: #cceeff;"&gt;Contingent liability (Note 18)&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;400,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;Others&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;2,256,977&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;1,978,603&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total &lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;8,955,663&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;8,616,831&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock id="Tag471" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 90%; margin-left: 0.27in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Accrued payroll and welfare&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;3,309,850&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;3,524,876&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Accrued professional fees&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;576,786&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;776,518&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;Other tax payables&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;2,263,055&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;2,298,780&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Interest payable&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;148,995&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;38,054&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 20px; background-color: #cceeff;"&gt;Contingent liability (Note 18)&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;400,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;Others&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;2,256,977&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;1,978,603&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Total &lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;8,955,663&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;8,616,831&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
  <us-gaap:LossContingencyAccrualAtCarryingValue id="Tag472" contextRef="I2014-12-31" unitRef="USD" decimals="0">400000</us-gaap:LossContingencyAccrualAtCarryingValue>
  <us-gaap:CustomerAdvancesAndDeposits id="Tag473" contextRef="I2014-12-31_OtherCustomersMember" unitRef="USD" decimals="0">262636</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="Tag474" contextRef="I2015-12-31_OtherCustomersMember" unitRef="USD" decimals="0">1107734</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="Tag475" contextRef="I2014-12-31" unitRef="USD" decimals="0">10710202</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesAndDeposits id="Tag476" contextRef="I2015-12-31" unitRef="USD" decimals="0">8183376</us-gaap:CustomerAdvancesAndDeposits>
  <us-gaap:CustomerAdvancesNoncurrent id="Tag477" contextRef="I2015-12-31" unitRef="USD" xsi:nil="true" />
  <us-gaap:PropertyPlantAndEquipmentFairValueDisclosure id="Tag478" contextRef="I2015-12-31_CarryingReportedAmountFairValueDisclosureMember_FairValueMeasurementsNonrecurringMember" unitRef="USD" decimals="0">1622588</us-gaap:PropertyPlantAndEquipmentFairValueDisclosure>
  <us-gaap:PropertyPlantAndEquipmentFairValueDisclosure id="Tag479" contextRef="I2015-12-31_FairValueInputsLevel2Member_FairValueMeasurementsNonrecurringMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:AssetImpairmentCharges id="Tag480" contextRef="D2015-01-01_To_2015-12-31_FairValueMeasurementsNonrecurringMember" unitRef="USD" decimals="0">1622588</us-gaap:AssetImpairmentCharges>
  <us-gaap:PropertyPlantAndEquipmentFairValueDisclosure id="Tag481" contextRef="I2014-12-31_CarryingReportedAmountFairValueDisclosureMember" unitRef="USD" decimals="-6">308000000</us-gaap:PropertyPlantAndEquipmentFairValueDisclosure>
  <us-gaap:AssetImpairmentCharges id="Tag482" contextRef="D2014-01-01_To_2014-12-31_DaqoNewMaterialCoLtdMember" unitRef="USD" decimals="-6">143000000</us-gaap:AssetImpairmentCharges>
  <us-gaap:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock id="Tag483" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt; &lt;div class="CursorPointer"&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt; &lt;td colspan="18" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Description&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt; &lt;td colspan="2" style="border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt; &lt;p style="margin: 0pt 0; font-family: 'times new roman';"&gt;&lt;strong&gt;Carrying&lt;br/&gt;amount&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Quoted&amp;#160;Prices&amp;#160;in&lt;br/&gt;Active&amp;#160;Markets&lt;br/&gt;for&amp;#160;Identical&lt;br/&gt;Assets&amp;#160;(Level 1)&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Significant&lt;br/&gt;Other&lt;br/&gt;Observable&lt;br/&gt; Inputs&amp;#160;(Level 2)&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Significant&lt;br/&gt;Unobservable&lt;br/&gt;Inputs&amp;#160;(Level 3)&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Total&amp;#160;Losses&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt; &lt;td style="text-indent: 9.5pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: -12px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;"&gt;Property, plant and equipment &amp;#150; identified untransferrable relocation assets&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;1,622,588&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; border-color: #000000; padding: 0px 5px; font-family: 'Times New Roman'; text-align: right; width: 10%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;1,622,588&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueAssetsMeasuredOnNonrecurringBasisTextBlock>
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;13. 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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' salaries. Contributions to defined contribution plans are expensed as incurred. During the years ended December&amp;#160;31, 2013, 2014 and 2015, the Group recognized $&lt;font&gt;3,142,213&lt;/font&gt;, $&lt;font&gt;3,130,308&lt;/font&gt;&amp;#160;and $&lt;font&gt;4,087,334&lt;/font&gt;&amp;#160;respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;(b) Statutory Reserves and Restricted Assets&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Foreign invested enterprises in PRC are required under PRC laws to distribute its after-tax profits of the current year and draw&amp;#160;10&amp;#160;percent of the profits as &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;the company's statutory common reserve. The company may stop drawing the profits if the aggregate balance of the common reserves has already accounted for over&lt;/font&gt;&amp;#160;50&amp;#160;percent of the company's registered capital. &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;The common reserves shall be used for making up losses, expanding the production and business scale or increasing the registered capital of the company.&lt;/font&gt;&amp;#160;As of December 31, 2013, 2014 and 2015,&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt; the Group's aggregate balance of the statutory common reserves was&lt;/font&gt;&amp;#160;$&lt;font&gt;16,803,191&lt;/font&gt;, $&lt;font&gt;20,190,729&lt;/font&gt;&amp;#160;and $&lt;font&gt;17,720,748&lt;/font&gt;&amp;#160;respectively.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;In accordance with relevant PRC laws and regulations, the Group's PRC subsidiaries are prohibited to make distribution of their registered capital and statutory reserves in the form of cash dividends, loans or advances and the relating restricted portion amounted to $&lt;/font&gt;&lt;font&gt;213,794,097&lt;/font&gt; as of December 31, 2015.&lt;/p&gt;
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;14. INCOME TAXES&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Company is incorporated in the Cayman Islands and is not subject to tax in this jurisdiction. In year 2015, the Company received deemed dividend distribution of $&lt;font&gt;1.1&lt;/font&gt; million from its subsidiary Xinjiang Daqo as a result of its restructuring for the potential listing on the New Third Board in PRC. In accordance with the tax laws and regulations of the PRC, the Company paid the income tax of $&lt;font&gt;0.1&lt;/font&gt; million to the relevant PRC tax bureau.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Company's subsidiaries are registered in the PRC as foreign invested enterprises. Under the Laws of the People's Republic of China on Enterprise Income Tax (the &amp;#147;EIT Law&amp;#148;) which are effective January 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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 &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;(&amp;#147;HTNE&amp;#148;)&lt;/font&gt;&amp;#160;certificate for a valid period of 3 years till 2014. &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;On November 10, 2015, Chongqing Daqo renewed the HTNE certificate for a valid period of 3 years till 2018.&lt;/font&gt;&amp;#160;During the years ended December 31, 2014 and 2015, 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 two&amp;#160;years ended December 31, 2013.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 31, 2012 and 2013. On November 25, 2014, Xin Jiang Daqo was entitled to a preferential tax rate of 15%, because of the obtainment of a High and New Technology Enterprise &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;(&amp;#147;HTNE&amp;#148;)&lt;/font&gt;&amp;#160;certificate for a valid period of 3 years till 2016.&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 2013.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 &amp;#147;non-resident enterprises&amp;#148;, 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 31, 2015, 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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' technical merits, and measured the unrecognized benefits associated with the tax positions. The Group did not have any unrecognized tax benefits as of December 31, 2014 and 2015. 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 2014, the Group'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 31, 2013, 2014 and 2015.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Income tax expenses comprise:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 80%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 55%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Current Tax (Benefit) Expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(162,621&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,786,092&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred Tax Expenses (Benefit)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,434,386&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(648,271&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;1,271,765&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;1,137,821&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The principal components of deferred income tax assets and liabilities are as follows:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; display: none;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; display: none;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; display: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Net operating loss carried forward&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;27,349,606&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;22,549,975&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Inventory write-down&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;26,141&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Bad debt provision&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;478,367&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;163,120&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Government grants related to assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;498,582&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;166,922&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Long-lived asset impairment&amp;amp;depreciation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;21,009,037&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;19,624,021&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Others&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;748,018&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;485,776&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Sub-total&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;42,989,814&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Valuation Allowance&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(42,362,849&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;626,965&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred tax assets are analyzed as:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Current&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Non-current&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;626,965&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;div class="CursorPointer" style="text-indent: 30pt;"&gt;&lt;font style="font-size: 10pt;"&gt;The changes of valuation allowance are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div class="CursorPointer"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;br/&gt;&lt;/p&gt;
&lt;div style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;" class="CursorPointer"&gt;
&lt;div&gt;
&lt;div style="display: block;" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-top-style: none; border-right-style: none; border-left-style: none; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: bottom; width: 70%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Beginning balance&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="margin: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;37,682,733&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;56,633,867&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px;"&gt;
&lt;td style="vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;Additions (Reversal)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;56,697,096&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(5,168,917&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(5,708,268&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Deconsolidation&lt;/font&gt;&lt;/td&gt;
&lt;td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(39,357,744&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px;"&gt;
&lt;td style="vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;Foreign exchange effect&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;1,611,782&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(1,355,199&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(2,038,634&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Ending Balance&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="undefined;align: left; margin: 0pt;"&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;56,633,867&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="undefined;align: left; margin: 0pt;"&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="undefined;align: left; margin: 0pt;"&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;42,362,849&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;div style="margin: 0px; text-indent: 30.6666660308838px;" class="CursorPointer"&gt;&lt;font style="font-size: 10pt;"&gt;The Group uses the asset and liability method to record related deferred tax assets and liabilities. The Group&amp;#160;considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of operating losses, forecasts of future profitability, the duration of statutory carry forward periods, the Group's experience with tax attributes expiring unused and tax planning alternatives. Valuation allowances have been established for deferred tax assets based on a more likely than not threshold. 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.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin: 0px; text-indent: 30.6666660308838px;" class="CursorPointer"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin: 0px; text-indent: 30.6666660308838px;" class="CursorPointer"&gt;&lt;font style="font-size: 10pt;"&gt;The Group considers positive and negative evidences to determine whether some portion or all of the deferred tax assets will be more likely than not realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses and forecasts of future profitability. These assumptions require significant judgement and the forecasts of future taxable income are consistent with the plans and estimates the Group is using to manage the underlying businesses. Valuation allowances are established for deferred tax assets based on a more likely than not threshold. The Group's ability to realize deferred tax assets depends on its ability to generate sufficient taxable income within the carry forward periods provided for in the tax law. The Group has provided a full valuation allowance for the deferred tax assets relating to Chongqing Daqo as of December 31, 2014 and December 2015 in the amount of $50,109,751 and $42,362,849, respectively, as management is not able to conclude that the future realization of those net operating loss carry forwards and other deferred tax assets are more likely than not. As of December 31, 2015, the Group has a total operating loss carry forwards which is entirely relating to Chongqing Daqo, of $&lt;font&gt;90.2&lt;/font&gt;&amp;#160;million. These operating loss carryforwards are expected to be expired from 2017 to 2021.&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;&lt;br/&gt;&lt;br/&gt;&lt;/font&gt;&lt;/font&gt;&lt;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 55%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;PRC Enterprise Income Tax&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Preferential income tax rate of a subsidiary&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(9&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Effect of different reversal rate&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;3&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Additional tax deductions&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(12&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Different tax rate in other jurisdictions&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;6&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Changes in valuation allowance&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(26&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Tax credits&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(15&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Withhold tax&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;%&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;1&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Effective tax rate&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;7&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;&amp;#160;&lt;/div&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;"&gt;Xinjiang Daqo and Chongqing Daqo enjoy the preferential tax rate of 15%, which may be extended if the requirements of High and New Technology Enterprise are satisfied. The impact of the preferential tax rates decreased income taxes by $&lt;font&gt;nil&lt;/font&gt;, $&lt;font&gt;3.0&lt;/font&gt;&amp;#160;and $ &lt;font&gt;1.2&lt;/font&gt;&amp;#160;million for the years of 2013, 2014 and 2015, respectively. The benefit on net income per share was $&lt;font&gt;nil&lt;/font&gt;, $ &lt;font&gt;0.01&amp;#160;&lt;/font&gt;and $&lt;font&gt;0.01&lt;/font&gt;&amp;#160;for the years of 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock id="Tag532" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 55%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;PRC Enterprise Income Tax&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Preferential income tax rate of a subsidiary&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(9&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Effect of different reversal rate&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;3&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Additional tax deductions&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(12&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Different tax rate in other jurisdictions&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;6&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Changes in valuation allowance&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(26&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Tax credits&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(15&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Withhold tax&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;%&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;1&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;Effective tax rate&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;7&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
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  <dq:ValuationAllowanceDeferredTaxAssetForeignExchangeEffect id="Tag539" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">1611782</dq:ValuationAllowanceDeferredTaxAssetForeignExchangeEffect>
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  <us-gaap:OperatingLossCarryforwards id="Tag543" contextRef="I2015-12-31_ChongqingDaqoNewEnergyCoLtdMember" unitRef="USD" decimals="-5">90200000</us-gaap:OperatingLossCarryforwards>
  <us-gaap:SummaryOfValuationAllowanceTextBlock id="Tag544" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-top-style: none; border-right-style: none; border-left-style: none; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="margin: 0pt; text-align: center;"&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: bottom; width: 70%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Beginning balance&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="margin: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;37,682,733&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;56,633,867&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px;"&gt;
&lt;td style="vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;Additions (Reversal)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;56,697,096&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(5,168,917&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(5,708,268&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Deconsolidation&lt;/font&gt;&lt;/td&gt;
&lt;td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(39,357,744&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px;"&gt;
&lt;td style="vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;Foreign exchange effect&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;1,611,782&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(1,355,199&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;(2,038,634&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="width: 5px; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Ending Balance&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="undefined;align: left; margin: 0pt;"&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;56,633,867&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="undefined;align: left; margin: 0pt;"&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong style="undefined;align: left; margin: 0pt;"&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"&gt;&lt;font&gt;&lt;font style="margin: 0pt; font-size: 10pt;"&gt;42,362,849&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;15. SHARE BASED COMPENSATION&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;In December 2014, The Company's shareholders adopted the 2014 share incentive plan. The Company's shareholders have authorized the issuance of up to &lt;font&gt;21,000,000&lt;/font&gt; ordinary shares underlying all options (including incentive share options, or ISOs), restricted shares and restricted share units granted to a participant under the plan, or the awards.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;During the years ended December 31, 2013, 2014 and 2015, the Company granted &lt;font&gt;140,000,&lt;/font&gt;&amp;#160;&lt;font&gt;6,274,166&lt;/font&gt; and &lt;font&gt;8,134,375&lt;/font&gt;&amp;#160;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 0; text-indent: 0.5in;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;On January 12, 2015, the Company granted options to acquire &lt;font&gt;600,000&lt;/font&gt;&amp;#160;ordinary shares to independent directors of the Company pursuant to the Option Plan. Twenty-five&amp;#160;percent (&lt;font&gt;25&lt;/font&gt;%) of the options will vest half- year following the service inception date,&amp;#160;twenty-five&amp;#160;percent (&lt;font&gt;25&lt;/font&gt;%) of the options will vest on the second half year of service inception date, and the remaining forty percent (&lt;font&gt;50&lt;/font&gt;%) of the options will vest in &lt;font&gt;twenty-four&lt;/font&gt; equal installments over the next &lt;font&gt;two&lt;/font&gt; years. The exercise price is $&lt;font&gt;0.87&lt;/font&gt;.&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;On January 12, 2015, the Company granted options to acquire &lt;font&gt;6,534,375&lt;/font&gt;&amp;#160;ordinary shares to employees and executive officers of the Company pursuant to the Option Plan. Twenty-five&amp;#160;percent (&lt;font&gt;25&lt;/font&gt;%) of the options will vest half- year following the service inception date, twenty-five&amp;#160;percent (&lt;font&gt;25&lt;/font&gt;%) of the options will vest on the second half year of service inception date, and the remaining forty percent (&lt;font&gt;50&lt;/font&gt;%) of the options will vest in &lt;font&gt;thirty-six&lt;/font&gt; equal installments over the next &lt;font&gt;three&lt;/font&gt; years. The exercise price is $&lt;font&gt;0.87&lt;/font&gt;.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;On January 12, 2015, the Company modified the exercise price to $0.87 for a total number of 6,274,166 previously granted options, in order to provide appropriate incentives to the relevant employees and executive officers of the Group. The fair value of the options under revised terms was $&lt;font&gt;0.55&lt;/font&gt; and $&lt;font&gt;0.52&lt;/font&gt;. The total incremental cost associated with the modification was $&lt;font&gt;241,557&lt;/font&gt;, of which $&lt;font&gt;60,107&lt;/font&gt; was recognized immediately for the options vested prior to the date of the modification and the remaining share-based compensation charges of $&lt;font&gt;181,470&lt;/font&gt; will be recognized over a weighted-average period of &lt;font&gt;2.91&lt;/font&gt; years.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;On July 06, 2015, the Company granted options to acquire &lt;font&gt;1,000,000&lt;/font&gt; ordinary shares to executive officers of the Company pursuant to the Option Plan. Twenty-five percent (&lt;font&gt;25&lt;/font&gt;%) of the options will vest half- year following the service inception date, twenty-five percent (&lt;font&gt;25&lt;/font&gt;%) of the options will vest on the second half year of service inception date, and the remaining forty percent (&lt;font&gt;50&lt;/font&gt;%) of the options will vest in &lt;font&gt;twenty-four&lt;/font&gt; equal installments over the next &lt;font&gt;three&lt;/font&gt; years. The exercise price is $&lt;font&gt;0.84&lt;/font&gt;.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;On September 09, 2015, the Company modified the exercise price for a total number of &lt;font&gt;12,569,166&lt;/font&gt; options granted before to $&lt;font&gt;0.59&lt;/font&gt;, 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 five batches granted on Jan 28, 2014, Jan 12, 2015 and July 06, 2015 was $&lt;font&gt;0.38&lt;/font&gt;, $&lt;font&gt;0.35&lt;/font&gt;, $&lt;font&gt;0.38&lt;/font&gt;, $&lt;font&gt;0.37&lt;/font&gt; and $&lt;font&gt;0.40&lt;/font&gt;, respectively. The total incremental cost associated with the modification was $&lt;font&gt;282,581&lt;/font&gt;, of which $&lt;font&gt;123,322&lt;/font&gt; was recognized immediately for the options vested prior to the date of the modification and the remaining share-based compensation charges of $&lt;font&gt;159,259&lt;/font&gt; will be recognized over a weighted-average period of &lt;font&gt;2.85&lt;/font&gt; years.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The following assumptions were used in the Binomial option pricing model:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;br/&gt;&lt;/p&gt;
&lt;div align="center"&gt;
&lt;table width="90%" cellpadding="0" border="0" cellspacing="0" style="margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="19" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year Ended December 31, 2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="bottom" style="vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Options&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;granted&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;risk-free&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;rate of&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;return&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;multiple&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Volatility&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Dividend&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;yield&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Post-&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;vesting&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;forfeiture&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="width: 35%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;April 3, 2013&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;2.29&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;2.8&lt;/font&gt; times&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;51.78&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;3&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="center" style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year Ended December 31, 2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Options&lt;br/&gt; granted&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Average&lt;br/&gt; risk-free&lt;br/&gt; rate of&lt;br/&gt; return&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Exercise&lt;br/&gt; multiple&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Volatility&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Dividend&lt;br/&gt; yield&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Post-&lt;br/&gt; vesting&lt;br/&gt; forfeiture&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;January 28, 2014&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;2.77&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3.0&lt;/font&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;"&gt;-&lt;/font&gt;&lt;font&gt;3.5&lt;/font&gt;&amp;#160;times&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;93.0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3&lt;/font&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;"&gt;-&lt;/font&gt;&lt;font&gt;9.5&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="center" style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year Ended December 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Options&lt;br/&gt; granted&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Average&lt;br/&gt; risk-free&lt;br/&gt; rate of&lt;br/&gt; return&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Exercise&lt;br/&gt; multiple&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Volatility&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Dividend&lt;br/&gt; yield&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Post-&lt;br/&gt; vesting&lt;br/&gt; forfeiture&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;January 12, 2015&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;2.82&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;1.8&lt;/font&gt;-&lt;font&gt;3&lt;/font&gt; times&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;93.0&lt;/font&gt;&lt;font style="background-color: #cceeff;"&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt;%-&lt;font&gt;8&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;July 06, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3.20&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&lt;font&gt;3&lt;/font&gt; times&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;91.0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;September 09, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;2.94&lt;/font&gt;%-&lt;font&gt;3.08&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&lt;font&gt;1.8&lt;/font&gt;-&lt;font&gt;3&lt;/font&gt; times&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;91.0&lt;/font&gt;%-&lt;font&gt;92.0&lt;/font&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt;%-&lt;font&gt;8&lt;/font&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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's best Estimation.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;A summary of the aggregate option activity and information regarding options outstanding as of December 31, 2015 is as follows:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Number&amp;#160;of&lt;br/&gt; Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Weighted&lt;br/&gt; Average&lt;br/&gt; Exercise&lt;br/&gt; Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Weighted&lt;br/&gt; Average&lt;br/&gt; Remaining&lt;br/&gt; Contract&amp;#160;Life&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Aggregate&lt;br/&gt; Intrinsic&lt;br/&gt; Value&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; width: 40%; padding-left: 0px; padding-top: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Options outstanding on January 1, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;12,375,416&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.87&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Granted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;8,134,375&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.59&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Forfeited&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1,307,743&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.56&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Expired&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(557,882&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.59&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1,115,625&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Options outstanding on December 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;17,528,541&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.50&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;7.48&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;2,973,866&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Options vested or expected to vest on December 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;12,978,233&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.40&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;6.12&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;3,499,985&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Options exercisable on December 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;9,965,138&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.42&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;6.38&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;2,434,628&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The share-based compensation charge related to the share options of approximately$&lt;font&gt;1,881,401,&lt;/font&gt;&amp;#160;$&lt;font&gt;1,792,819&lt;/font&gt;&amp;#160;and $&lt;font&gt;3,687,951&lt;/font&gt;&amp;#160;was recognized by the Company for the years ended December 31, 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The weighted average grant date fair value of options granted during the year ended December 31, 2013, 2014 and 2015 was $&lt;font&gt;0.11,&lt;/font&gt;&amp;#160;$&lt;font&gt;0.98&lt;/font&gt;&amp;#160;and $&lt;font&gt;0.59&lt;/font&gt;, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;As of December 31, 2015, there was $&lt;font&gt;5,279,522&lt;/font&gt;&amp;#160;in total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a weighted-average period of &lt;font&gt;2.70&lt;/font&gt;&amp;#160;years.&lt;/p&gt;
&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag576" contextRef="I2014-12-31_DaqoGroupMember" unitRef="USD" decimals="0">1339128</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag577" contextRef="I2015-12-31_DaqoGroupMember" unitRef="USD" decimals="0">33758</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag578" contextRef="I2014-12-31_OtherSubsidiariesOfDaqoGroupMember" unitRef="USD" decimals="0">734201</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag579" contextRef="I2015-12-31_OtherSubsidiariesOfDaqoGroupMember" unitRef="USD" decimals="0">118873</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock id="Tag580" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Number&amp;#160;of&lt;br/&gt; Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Weighted&lt;br/&gt; Average&lt;br/&gt; Exercise&lt;br/&gt; Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Weighted&lt;br/&gt; Average&lt;br/&gt; Remaining&lt;br/&gt; Contract&amp;#160;Life&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Aggregate&lt;br/&gt; Intrinsic&lt;br/&gt; Value&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; width: 40%; padding-left: 0px; padding-top: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Options outstanding on January 1, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;12,375,416&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.87&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Granted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;8,134,375&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.59&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Forfeited&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1,307,743&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.56&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Expired&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(557,882&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.59&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1,115,625&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.25&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Options outstanding on December 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;17,528,541&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.50&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;7.48&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;2,973,866&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Options vested or expected to vest on December 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;12,978,233&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.40&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;6.12&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;3,499,985&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Options exercisable on December 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;9,965,138&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;0.42&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
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&lt;div style="font-family: 'times new roman', times; font-size: 10pt;"&gt;
&lt;div style="font-size: 10pt;"&gt;
&lt;div style="font-size: 10pt;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;16. RELATED PARTY TRANSACTIONS AND BALANCES&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
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&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;

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&lt;td style="font-family: 'Times New Roman'; width: 97%;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The relationships between the Group and related party are as follows:&lt;/font&gt;&lt;/td&gt;
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&lt;td style="width: 46%; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Relationship&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Group and the Group&amp;#160;are controlled by same group of shareholders.&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="font-size: 10pt;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Zhenjiang&amp;#160;Daqo&amp;#160;Solar&amp;#160;Co.&amp;#160;Ltd&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;.(&amp;#147;Zhenjiang&amp;#160;Daqo)&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;An affiliated company which is &lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;100&lt;/font&gt;&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="font-size: 10pt;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Solar Co. Ltd (&amp;#147;Daqo Solar&amp;#148;) &lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;An affiliated company which is &lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;100&lt;/font&gt;&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="font-size: 10pt;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Nanjing Daqo New Energy Co.,Ltd&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;.(&amp;#147;Nanjing Daqo&amp;#148;)&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;An affiliated company which was &lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;100&lt;/font&gt;&lt;/font&gt;% held by the Group&amp;#160;before September 28, 2012 and is &lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;100&lt;/font&gt;&lt;/font&gt;% held by Daqo Group since September 28, 2012&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="font-size: 10pt;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Xinjiang Investment Co., Ltd. ("Xinjiang Daqo Investment")&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;An affiliated company which is &lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;100&lt;/font&gt;&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="font-size: 10pt;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo New Material Co., Ltd. ("Daqo New Material")&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt; &lt;!-- [if gte mso 9]&gt;&lt;xml&gt; &lt;o:OfficeDocumentSettings&gt; &lt;o:AllowPNG&gt;&lt;/o:AllowPNG&gt; &lt;/o:OfficeDocumentSettings&gt;
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&lt;/xml&gt;&lt;![endif]--&gt;&lt;!-- [if gte mso 9]&gt;&lt;xml&gt; &lt;w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="false" DefSemiHidden="false" DefQFormat="false" DefPriority="99" LatentStyleCount="371"&gt; &lt;w:LsdException Locked="false" Priority="0" QFormat="true" Name="Normal"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 7"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 8"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="9" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="heading 9"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 7"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 8"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index 9"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 7"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 8"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" Name="toc 9"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Normal Indent"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="footnote text"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="annotation text"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="header"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="footer"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="index heading"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="35" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="caption"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="table of figures"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="envelope address"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="envelope return"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="footnote reference"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="annotation reference"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="line number"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="page number"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="endnote reference"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="endnote text"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="table of authorities"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="macro"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="toa heading"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Bullet"&gt;&lt;/w:LsdException&gt; 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&lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Number 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Number 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Number 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Number 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="10" QFormat="true" Name="Title"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Closing"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Signature"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="1" SemiHidden="true" UnhideWhenUsed="true" Name="Default Paragraph Font"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Body Text"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Body Text Indent"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Continue"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Continue 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Continue 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Continue 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="List Continue 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Message Header"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="11" QFormat="true" Name="Subtitle"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Salutation"&gt;&lt;/w:LsdException&gt; 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&lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="HTML Typewriter"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="HTML Variable"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Normal Table"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="annotation subject"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="No List"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Outline List 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Outline List 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Outline List 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Simple 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Simple 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Simple 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Classic 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Classic 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Classic 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Classic 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Colorful 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Colorful 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Colorful 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Columns 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Columns 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Columns 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Columns 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Columns 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 7"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Grid 8"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 7"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table List 8"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table 3D effects 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table 3D effects 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table 3D effects 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Contemporary"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Elegant"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Professional"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Subtle 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Subtle 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Web 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Web 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Web 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Balloon Text"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" Name="Table Grid"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" UnhideWhenUsed="true" Name="Table Theme"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" Name="Placeholder Text"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="1" QFormat="true" Name="No Spacing"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="60" Name="Light Shading"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="61" Name="Light List"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="62" Name="Light Grid"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="63" Name="Medium Shading 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="64" Name="Medium Shading 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="65" Name="Medium List 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="66" Name="Medium List 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="67" Name="Medium Grid 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="68" Name="Medium Grid 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="69" Name="Medium Grid 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="70" Name="Dark List"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="71" Name="Colorful Shading"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="72" Name="Colorful List"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="73" Name="Colorful Grid"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="61" Name="Light List Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" SemiHidden="true" Name="Revision"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="34" QFormat="true" Name="List Paragraph"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="29" QFormat="true" Name="Quote"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="30" QFormat="true" Name="Intense Quote"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="70" Name="Dark List Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="61" Name="Light List Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="70" Name="Dark List Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="61" Name="Light List Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="70" Name="Dark List Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="61" Name="Light List Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="70" Name="Dark List Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="61" Name="Light List Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="70" Name="Dark List Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="60" Name="Light Shading Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="61" Name="Light List Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="62" Name="Light Grid Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="63" Name="Medium Shading 1 Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="64" Name="Medium Shading 2 Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="65" Name="Medium List 1 Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="66" Name="Medium List 2 Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="67" Name="Medium Grid 1 Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="68" Name="Medium Grid 2 Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="69" Name="Medium Grid 3 Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="70" Name="Dark List Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="71" Name="Colorful Shading Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="72" Name="Colorful List Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="73" Name="Colorful Grid Accent 6"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="19" QFormat="true" Name="Subtle Emphasis"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="21" QFormat="true" Name="Intense Emphasis"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="31" QFormat="true" Name="Subtle Reference"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="32" QFormat="true" Name="Intense Reference"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="33" QFormat="true" Name="Book Title"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="37" SemiHidden="true" UnhideWhenUsed="true" Name="Bibliography"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="39" SemiHidden="true" UnhideWhenUsed="true" QFormat="true" Name="TOC Heading"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="41" Name="Plain Table 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="42" Name="Plain Table 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="43" Name="Plain Table 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="44" Name="Plain Table 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="45" Name="Plain Table 5"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="40" Name="Grid Table Light"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="47" Name="Grid Table 2"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="48" Name="Grid Table 3"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="49" Name="Grid Table 4"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="51" Name="Grid Table 6 Colorful"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="52" Name="Grid Table 7 Colorful"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="47" Name="Grid Table 2 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="48" Name="Grid Table 3 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="49" Name="Grid Table 4 Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="50" Name="Grid Table 5 Dark Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="51" Name="Grid Table 6 Colorful Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="52" Name="Grid Table 7 Colorful Accent 1"&gt;&lt;/w:LsdException&gt; &lt;w:LsdException Locked="false" Priority="46" Name="Grid Table 1 Light Accent 2"&gt;&lt;/w:LsdException&gt; 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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Chongqing Daqo Tailai Electric Co., Ltd. (&amp;#147;Chongqing Daqo Tailai&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Nanjing Daqo Transformer Systems Co., Ltd. (&amp;#147;Nanjing Daqo Transformer&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Jiangsu Daqo Changjiang Electric Co., Ltd. (&amp;#147;Jiangsu Daqo&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Nanjing Daqo Electric Co., Ltd. (&amp;#147;Nanjing Daqo Electric&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Zhenjiang Klockner-Moeller Electrical Systems Co., Ltd. (&amp;#147;Zhenjiang Moeller&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Nanjing Intelligent Apparatus Co., Ltd. (&amp;#147;Intelligent Apparatus&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Nanjing Intelligent Software Co., Ltd. (&amp;#147;Intelligent Software&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;Daqo Investment Co., Ltd. (&amp;#147;Daqo Investment&amp;#148;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/td&gt;
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&lt;p style="margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Shanghai Sailfar Electric Technology Co., Ltd. (&amp;#147;Daqo Sailfar&amp;#148;)&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Jiangsu&amp;#160;Daquan&amp;#160;High Voltage Switchgear Co.,Ltd&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;.( &amp;#147;Jiangsu Daquan High Voltage&amp;#148;)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Jiangsu&amp;#160;Daqo&amp;#160;Kai-fan Electric Co.,Ltd.&amp;#160;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;( &amp;#147;Jiangsu Daqo Kai-fan&amp;#148;)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Zhenjiang&amp;#160;Electric Equipment Co.,Ltd.&amp;#160;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;( &amp;#147;Zhenjiang Electric&amp;#148;)&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;
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&lt;p style="margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group&lt;/font&gt;&lt;/p&gt;
&lt;p style="margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;An affiliated company which is &lt;font&gt;75&lt;/font&gt;% &amp;#160;held by Daqo&amp;#160;Group&lt;/font&gt;&lt;/p&gt;
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&lt;tr style="vertical-align: top;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; width: 3%;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(2) &amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left: none; border-right: none; border-top: none; border-bottom: none; font-family: 'Times New Roman'; width: 97%;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Related party balances:&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;The balances due from related parties mainly included the amount due from Zhenjiang&amp;#160;Daqo&amp;#160;for sales of wafer and polysilicon&amp;#160;and Daqo Group for the proceeds from deposition consideration of Nanjing Daqo. Such balances are unsecured, interest-free, and are payable on demand. The balances are as follows:&lt;/p&gt;
&lt;div align="center"&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;div&gt;
&lt;div align="center"&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; width: 93%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;Amounts due from related parties&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="width: 654.671875px; text-align: left; text-indent: -10pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Zhenjiang Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 9px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 9px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 69px; text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,551,846&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 68px; text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;229,989&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;5,110,085&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Others&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;325,037&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;54,644&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: -10pt; padding-left: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;9,986,968&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;284,633&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;div style="font-family: 'times new roman', times; font-size: 10pt;"&gt;
&lt;div style="font-size: 10pt;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;Interest free loans due to related parties received primarily for working capital purposes from Daqo Solar,&amp;#160;Xinjiang Daqo Investment and Daqo&amp;#160;New Material, wholly-owned subsidiaries of Daqo Group. The balances are payable on demand and are as follows:&lt;/font&gt;&lt;br/&gt;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div&gt;
&lt;div style="font-family: 'times new roman', times; font-size: 10pt;"&gt;
&lt;div style="font-size: 10pt;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div style="font-size: 10pt;" class="CursorPointer" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 93%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" align="left" valign="top" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="3" align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; display: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 60%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Amounts due to related parties&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Solar&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;54,275,617&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;37,390,575&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Xinjiang Daqo investment&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;23,104,709&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,146,054&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo New Material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font&gt;4,950,746&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5,563,165&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Chongqing Daqo Tailai&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font&gt;1,755,326&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;144,102&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Nanjing Daqo&amp;#160;Transformer&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,595,659&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,339,128&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;33,758&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Jiangsu Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;1,200,018&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 13.3333330154419px;"&gt;Nanjing Daqo Electric&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;742,747&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Others*&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;734,201&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;118,873&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: top; text-align: left; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;89,698,151&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;46,396,527&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div style="font-size: 10pt;" class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0"&gt;

&lt;tr&gt;
&lt;td style="width: 2%; vertical-align: top;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; /* text-indent: 0.5in; */vertical-align: top;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;&amp;#160;*&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="width: 98%;"&gt;
&lt;div&gt;
&lt;div style="margin: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;The remaining balance of amounts due to related parties of $118,873 as of December 31, 2015 was comprised of Zhenjiang Moeller&amp;#160;and Daqo Sailfar in the amount of $&lt;font&gt;107,771&lt;/font&gt; and $&lt;font&gt;11,102&lt;/font&gt;, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;&lt;/font&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt; &lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;The transactions with Daqo Group and its subsidiaries were as follows:&lt;/font&gt;
&lt;div&gt;
&lt;div style="font-family: 'times new roman', times; font-size: 10pt;"&gt;
&lt;div style="font-size: 10pt;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div style="font-size: 10pt;" class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Transaction&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" align="left" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Year Ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" align="left" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Name of Related parties&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Nature&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2013&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 25%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; width: 36%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;486,948&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;813,105&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;10,821,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;15,043,550&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;Repayment of interest free loans&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;813,105&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,115,813&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;20,217,257&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Zhenjiang Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;13,471,866&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;9,554,320&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;11,111,239&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Solar&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;9,595,680&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;783,705&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;76,881,392&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;157,241,390&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;127,060,826&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;28,379,678&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;166,231,092&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;151,990,672&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Nanjing Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;112&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;973,898&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;13,456,861&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; font-family: 'times new roman', times; font-size: 10pt; display: inline !important;"&gt;&lt;font&gt;2,921,693&lt;/font&gt;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;13,456,861&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Xinjiang&amp;#160;Daqo&amp;#160;Investment&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;58,389,643&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;98,367,234&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;72,946,700&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;40,193,785&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;93,219,846&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;73,252,506&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
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&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;7,729,501&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;11,082,241&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;4,600,117&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;11,285,114&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Rental expense&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;1,071,287&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;1,050,661&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;Chongqing&lt;font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: -webkit-left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&amp;#160;&lt;/font&gt;Daqo&lt;font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: -webkit-left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&amp;#160;&lt;/font&gt;Tailai&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;2,724,790&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;375,528&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Raw material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;9,938&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;Income from disposal of fixed assets&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;6,458&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;6,367,640&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;6,367,640&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Others subsidiaries under Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;636&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5,296&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset*&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;157,742&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,989,686&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,488,330&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Raw material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;22,817&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;13,471,866&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;19,150,112&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;11,894,944&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Income from disposal of fixed assets&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;6,458&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;157,742&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;7,201,424&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,863,858&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Raw material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;32,755&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Rental expense&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,071,287&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,050,661&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;136,084,140&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;275,134,122&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;245,957,818&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;69,386,568&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;275,088,560&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;276,575,346&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0"&gt;

&lt;tr&gt;
&lt;td style="width: 1%; vertical-align: top;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 98%;"&gt;
&lt;div&gt;
&lt;div style="font-size: 10pt;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;The purchase of fixed assets of $&lt;font&gt;3,488,330&lt;/font&gt; was comprised of Nanjing&amp;#160;Daqo&amp;#160;Electric, Nanjing&amp;#160;Daqo&amp;#160;Transformer, Zhenjiang&amp;#160;Moeller, Jiangsu&amp;#160;Daqo, Jiangsu&amp;#160;Daqo&amp;#160;High Voltage Switchgear, Intelligent Apparatus in the amount of $&lt;font&gt;93,795&lt;/font&gt;, $&lt;font&gt;448,184&lt;/font&gt;, $&lt;font&gt;2,005,617&lt;/font&gt;, $&lt;font&gt;11,423&lt;/font&gt;, $&lt;font&gt;483,764&lt;/font&gt;, $&lt;font&gt;445,547&lt;/font&gt;&amp;#160;respectively.&lt;/font&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
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  <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock id="Tag650" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="font-family: 'times new roman', times; font-size: 10pt;"&gt;
&lt;div style="font-size: 10pt;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div style="font-size: 10pt;" class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Transaction&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" align="left" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Year Ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" align="left" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Name of Related parties&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;Nature&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2013&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 25%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; width: 36%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;486,948&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;813,105&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;10,821,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;15,043,550&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;Repayment of interest free loans&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;813,105&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,115,813&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;20,217,257&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Zhenjiang Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;13,471,866&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;9,554,320&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;11,111,239&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Solar&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;9,595,680&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;783,705&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;76,881,392&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;157,241,390&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;127,060,826&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;28,379,678&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;166,231,092&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;151,990,672&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Nanjing Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;112&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;973,898&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;13,456,861&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; font-family: 'times new roman', times; font-size: 10pt; display: inline !important;"&gt;&lt;font&gt;2,921,693&lt;/font&gt;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;13,456,861&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Xinjiang&amp;#160;Daqo&amp;#160;Investment&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;58,389,643&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;98,367,234&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;72,946,700&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;40,193,785&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;93,219,846&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;73,252,506&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo New Material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;7,729,501&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;11,082,241&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;4,600,117&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;11,285,114&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Rental expense&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;1,071,287&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;1,050,661&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;Chongqing&lt;font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: -webkit-left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&amp;#160;&lt;/font&gt;Daqo&lt;font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: -webkit-left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&amp;#160;&lt;/font&gt;Tailai&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;2,724,790&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;375,528&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Raw material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;9,938&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;Income from disposal of fixed assets&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;6,458&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;6,367,640&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&lt;font&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;&lt;font&gt;6,367,640&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Others subsidiaries under Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;636&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5,296&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset*&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;157,742&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,989,686&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,488,330&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Raw material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;22,817&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Sales&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;13,471,866&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;19,150,112&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;11,894,944&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Income from disposal of fixed assets&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;6,458&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Fixed asset&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;157,742&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;7,201,424&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,863,858&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Purchase-Raw material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;32,755&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Rental expense&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,071,287&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,050,661&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Proceeds from interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;136,084,140&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;275,134,122&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;245,957,818&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Repayment of interest free loans&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;69,386,568&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;275,088,560&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;276,575,346&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0"&gt;

&lt;tr&gt;
&lt;td style="width: 1%; vertical-align: top;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 98%;"&gt;
&lt;div&gt;
&lt;div style="font-size: 10pt;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;The purchase of fixed assets of $&lt;font&gt;3,488,330&lt;/font&gt; was comprised of Nanjing&amp;#160;Daqo&amp;#160;Electric, Nanjing&amp;#160;Daqo&amp;#160;Transformer, Zhenjiang&amp;#160;Moeller, Jiangsu&amp;#160;Daqo, Jiangsu&amp;#160;Daqo&amp;#160;High Voltage Switchgear, Intelligent Apparatus in the amount of $&lt;font&gt;93,795&lt;/font&gt;, $&lt;font&gt;448,184&lt;/font&gt;, $&lt;font&gt;2,005,617&lt;/font&gt;, $&lt;font&gt;11,423&lt;/font&gt;, $&lt;font&gt;483,764&lt;/font&gt;, $&lt;font&gt;445,547&lt;/font&gt;&amp;#160;respectively.&lt;/font&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;
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  <us-gaap:DueFromRelatedPartiesCurrent id="Tag674" contextRef="I2014-12-31_ZhengjiangDaqoSolarCoLtdMember" unitRef="USD" decimals="0">4551846</us-gaap:DueFromRelatedPartiesCurrent>
  <us-gaap:DueFromRelatedPartiesCurrent id="Tag675" contextRef="I2015-12-31_ZhengjiangDaqoSolarCoLtdMember" unitRef="USD" decimals="0">229989</us-gaap:DueFromRelatedPartiesCurrent>
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&lt;div align="center"&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-family: 'Times New Roman', Times, serif; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; widows: 1; word-spacing: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; width: 93%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;Amounts due from related parties&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="width: 654.671875px; text-align: left; text-indent: -10pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Zhenjiang Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 9px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 9px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 69px; text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,551,846&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 68px; text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;229,989&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;5,110,085&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Others&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;325,037&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;54,644&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: -10pt; padding-left: 10pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;9,986,968&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;284,633&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;/div&gt;</dq:ScheduleOfRelatedPartyBalancesLoansTableTextBlock>
  <dq:ScheduleOfRelatedPartyBalancesPayablesTableTextBlock id="Tag679" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="font-family: 'times new roman', times; font-size: 10pt;"&gt;
&lt;div style="font-size: 10pt;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div style="font-size: 10pt;" class="CursorPointer" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 93%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" align="left" valign="top" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="3" align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong style="font-size: 10pt;"&gt; &lt;/strong&gt;&lt;/font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; display: none;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 60%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Amounts due to related parties&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Solar&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;54,275,617&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;37,390,575&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Xinjiang Daqo investment&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;23,104,709&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;3,146,054&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo New Material&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font&gt;4,950,746&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5,563,165&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Chongqing Daqo Tailai&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font&gt;1,755,326&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;144,102&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Nanjing Daqo&amp;#160;Transformer&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,595,659&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Daqo Group&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,339,128&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;33,758&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Jiangsu Daqo&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;1,200,018&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 13.3333330154419px;"&gt;Nanjing Daqo Electric&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;742,747&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Others*&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;734,201&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;118,873&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td align="left" valign="top" style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: top; text-align: left; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Total&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;89,698,151&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;46,396,527&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div style="font-size: 10pt;" class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0"&gt;

&lt;tr&gt;
&lt;td style="width: 2%; vertical-align: top;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; /* text-indent: 0.5in; */vertical-align: top;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;&amp;#160;*&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="width: 98%;"&gt;
&lt;div&gt;
&lt;div style="margin: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;The remaining balance of amounts due to related parties of $118,873 as of December 31, 2015 was comprised of Zhenjiang Moeller&amp;#160;and Daqo Sailfar in the amount of $&lt;font&gt;107,771&lt;/font&gt; and $&lt;font&gt;11,102&lt;/font&gt;, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</dq:ScheduleOfRelatedPartyBalancesPayablesTableTextBlock>
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Tag680" contextRef="D2013-01-01_To_2013-12-31" unitRef="Shares" xsi:nil="true" />
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Tag681" contextRef="D2014-01-01_To_2014-12-31" unitRef="Shares" decimals="0">5003667</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements id="Tag682" contextRef="D2015-01-01_To_2015-12-31" unitRef="Shares" decimals="0">3396082</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <us-gaap:EarningsPerShareBasic id="Tag683" contextRef="D2015-01-01_To_2015-12-31" unitRef="USDPerShare" decimals="2">0.05</us-gaap:EarningsPerShareBasic>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Tag684" contextRef="D2013-01-01_To_2013-12-31" unitRef="Shares" decimals="0">6371250</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Tag685" contextRef="D2014-01-01_To_2014-12-31" unitRef="Shares" decimals="0">6154166</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Tag686" contextRef="D2015-01-01_To_2015-12-31" unitRef="Shares" decimals="0">12563541</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:EarningsPerShareTextBlock id="Tag687" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;17. EARNINGS PER SHARE&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The calculation of earnings per share is as follows:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Numerator used in basic and diluted earnings per share:&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 61%;"&gt;Net (loss) income attributable to Daqo New Energy Corp. ordinary shareholders&amp;#151;basic and diluted&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;(70,943,484&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;16,649,176&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;12,956,889&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Denominator used in basic and diluted earnings per share:&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;Weighted average number of ordinary shares outstanding used in computing earnings per share&amp;#151;basic&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;173,068,420&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;206,349,976&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;258,015,851&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Plus: share options&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;5,003,667&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;3,396,082&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Weighted average number of ordinary shares outstanding used in computing earnings per share&amp;#151;diluted&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;173,068,420&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;211,353,643&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;261,411,933&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&amp;#151;Basic&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;(0.41&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;0.08&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;0.05&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&amp;#151;Diluted&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;$&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;(0.41&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;)&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;0.08&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;0.05&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Outstanding employee options totaling of &lt;font&gt;6,371,250&lt;/font&gt;, &lt;font&gt;6,154,166&lt;/font&gt;&amp;#160;and &lt;font&gt;12,563,541&lt;/font&gt;&amp;#160;were excluded from the computation of diluted earnings per share as their effects would have been anti-dilutive for the year ended December 31, 2013, 2014 and 2015, respectively.&lt;/p&gt;

&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted id="Tag688" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">-70943484</us-gaap:NetIncomeLossAvailableToCommonStockholdersDiluted>
  <us-gaap:EarningsPerShareBasic id="Tag689" contextRef="D2014-01-01_To_2014-12-31" unitRef="USDPerShare" decimals="2">0.08</us-gaap:EarningsPerShareBasic>
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic id="Tag690" contextRef="D2014-01-01_To_2014-12-31" unitRef="Shares" decimals="0">206349976</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <us-gaap:PurchaseCommitmentRemainingMinimumAmountCommitted id="Tag691" contextRef="I2015-12-31" unitRef="USD" decimals="-5">15500000</us-gaap:PurchaseCommitmentRemainingMinimumAmountCommitted>
  <us-gaap:OperatingLeasesRentExpenseNet id="Tag692" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">164811</us-gaap:OperatingLeasesRentExpenseNet>
  <us-gaap:OperatingLeasesRentExpenseNet id="Tag693" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">1071287</us-gaap:OperatingLeasesRentExpenseNet>
  <us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock id="Tag694" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;div class="CursorPointer"&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal;font-variant: normal;font-weight: normal;font-stretch: normal;font-size: 10pt;line-height: normal;font-family: 'times new roman', times, serif;border-collapse: collapse;width: 80%;"&gt;  &lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt; &lt;td nowrap="nowrap" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Year ending December 31&lt;/td&gt; &lt;td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 80%;"&gt;2016 (Note 19)&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt; &lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 17%;"&gt;&lt;font&gt;1,050,661&lt;/font&gt;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt; &lt;td style="text-indent: 10pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Total&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;1,050,661&lt;/font&gt;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
  <us-gaap:CommitmentsDisclosureTextBlock id="Tag695" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;18. COMMITMENTS AND CONTINGENCIES&lt;/strong&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;As of December 31, 2015, commitments outstanding for the purchases of property, plant and equipment approximated $&lt;font&gt;15.5&lt;/font&gt;&amp;#160;million, which will be due subsequent to receipt of the purchases.&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;Lease commitments&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;operating lease commitments as of December 31, 2015 were principally &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;for the housing rental from Daqo New Material. The lease expense was&amp;#160;&lt;/font&gt;&lt;/font&gt;$&lt;font&gt;164,811&lt;/font&gt;, $&lt;font&gt;1,071,287&lt;/font&gt;&amp;#160;and $&lt;font&gt;1,050,661&lt;/font&gt;&amp;#160;for the year ended December 31, 2013, 2014 and 2015, respectively.&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Future minimum lease payments are as follows:&lt;/p&gt; &lt;div&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;div class="CursorPointer"&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal;font-variant: normal;font-weight: normal;font-stretch: normal;font-size: 10pt;line-height: normal;font-family: 'times new roman', times, serif;border-collapse: collapse;width: 80%;"&gt;  &lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt; &lt;td nowrap="nowrap" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Year ending December 31&lt;/td&gt; &lt;td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 80%;"&gt;2016 (Note 19)&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt; &lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 17%;"&gt;&lt;font&gt;1,050,661&lt;/font&gt;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt; &lt;td style="text-indent: 10pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Total&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;1,050,661&lt;/font&gt;&lt;/td&gt; &lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;/div&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"&gt;&lt;b&gt;&lt;i&gt;Contingencies&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"&gt;The Group was the defendant in arbitration involving a supplier claiming approximately $&lt;font&gt;0.8&lt;/font&gt; million from alleged breach of an equipment supply contract. The Group determined that the likelihood of loss is probable and the best estimate of loss was $&lt;font&gt;0.4&lt;/font&gt; million. Accordingly, the contingent liability of $&lt;font&gt;0.4&lt;/font&gt; million was accrued in "Accrued Expenses And Other Current Liabilities" as of December 31, 2014. This claim issue was closed in 2015, and there was &lt;font&gt;no&lt;/font&gt; litigation as of December 31, 2015.&lt;/p&gt; &lt;/div&gt;</us-gaap:CommitmentsDisclosureTextBlock>
  <dq:LesseeLeasingArrangementsOperatingLeasesAnnualPayment id="Tag696" contextRef="I2014-04-14_VariableInterestEntityPrimaryBeneficiaryMember" unitRef="USD" decimals="-6">1000000</dq:LesseeLeasingArrangementsOperatingLeasesAnnualPayment>
  <us-gaap:NetIncomeLoss id="Tag697" contextRef="D2013-01-01_To_2013-12-31_VariableInterestEntityPrimaryBeneficiaryMember" unitRef="USD" decimals="0">-150147024</us-gaap:NetIncomeLoss>
  <us-gaap:NetIncomeLoss id="Tag698" contextRef="D2014-01-01_To_2014-12-31_VariableInterestEntityPrimaryBeneficiaryMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:AssetsCurrent id="Tag699" contextRef="I2015-12-31_ParentCompanyMember" unitRef="USD" decimals="0">2756666</us-gaap:AssetsCurrent>
  <us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures id="Tag700" contextRef="I2014-12-31_ParentCompanyMember" unitRef="USD" decimals="0">197571399</us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures>
  <us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures id="Tag701" contextRef="I2015-12-31_ParentCompanyMember" unitRef="USD" decimals="0">238112877</us-gaap:InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures>
  <us-gaap:Assets id="Tag702" contextRef="I2014-12-31_ParentCompanyMember" unitRef="USD" decimals="0">207379316</us-gaap:Assets>
  <us-gaap:Assets id="Tag703" contextRef="I2015-12-31_ParentCompanyMember" unitRef="USD" decimals="0">240869543</us-gaap:Assets>
  <us-gaap:VariableInterestEntityDisclosureTextBlock id="Tag704" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;&lt;font&gt;19&lt;/font&gt;. VARIABLE INTEREST ENTITY&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"&gt;The lease agreement with the VIE was structured
such that Chongqing Daqo protect Daqo Group from potential losses from Daqo New Material. As a result of this agreement, Chongqing
Daqo was the primary beneficiary of Daqo New Material. Lease income and expenses and associated receivables and payables were eliminated
upon consolidation as intercompany transactions. Net income of the VIE was reflected as an adjustment to noncontrolling interest.
The Group relied 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 Group cannot find an immediately available alternative source for leasing similar property,
plant and equipment, then the Group's ability to carry on the operations will be impaired. If Daqo New Material fails to
perform its obligations, the Group 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 0; text-indent: 23pt;"&gt;&amp;#160;&amp;#160;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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'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 $&lt;font&gt;1&lt;/font&gt; million.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Daqo New Material leased all of its assets for use in the Group's operations before December 31, 2013. The revenues, operating costs and expenses and net income of the VIE are as follows:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="10" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td width="100%" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Revenues&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Operating costs and expenses&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"&gt;&lt;font&gt;150,147,024&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Net income (loss)&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;(150,147,024&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0"&gt;

&lt;tr&gt;
&lt;td style="width: 2%; vertical-align: top;"&gt;*&lt;/td&gt;
&lt;td style="width: 98%;"&gt;
&lt;div&gt;&lt;font style="font-size: 10pt;"&gt;The lease term was amended at the beginning of &lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;2013&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt; and reduced the rent to $&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;0&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt; per month and was later terminated on December 30, 2013.&lt;/font&gt;&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;

&lt;/div&gt;</us-gaap:VariableInterestEntityDisclosureTextBlock>
  <us-gaap:ScheduleOfVariableInterestEntitiesTextBlock id="Tag705" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="10" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td width="100%" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Revenues&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Operating costs and expenses&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"&gt;&lt;font&gt;150,147,024&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Net income (loss)&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;(150,147,024&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0"&gt;

&lt;tr&gt;
&lt;td style="width: 2%; vertical-align: top;"&gt;*&lt;/td&gt;
&lt;td style="width: 98%;"&gt;
&lt;div&gt;&lt;font style="font-size: 10pt;"&gt;The lease term was amended at the beginning of &lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;2013&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt; and reduced the rent to $&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;0&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt; per month and was later terminated on December 30, 2013.&lt;/font&gt;&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:ScheduleOfVariableInterestEntitiesTextBlock>
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;BALANCE SHEET&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;DECEMBER 31, 2013 AND 2014&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;(In U.S. dollars, except share data)&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
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&lt;td nowrap="nowrap" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;ASSETS&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;CURRENT ASSETS&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; width: 74%; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Cash and cash equivalents&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,493,150&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;2,563,083&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Prepaid expenses and other current assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;204,682&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;193,583&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Amount due from a related party&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;5,110,085&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total current assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;9,807,917&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;2,756,666&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Investments in subsidiaries&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;197,571,399&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;238,112,877&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;TOTAL ASSETS&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;207,379,316&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;240,869,543&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 2pt; text-align: left; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 2pt; text-align: left; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 2pt; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 2pt; text-align: left; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 2pt; text-align: left; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 2pt; text-align: left; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;LIABILITIES AND SHAREHOLDERS' EQUITY&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;CURRENT LIABILITIES&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Accrued expenses and other current liabilities&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;324,720&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;406,088&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Amount due to a related party&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;286,526&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160; &amp;#160; &amp;#160;Income tax payable&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-top-style: none; border-right-style: none; border-left-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;108,992&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Total current liabilities&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;611,246&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;515,080&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;EQUITY&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Ordinary shares ($&lt;font&gt;0.0001&lt;/font&gt; per value &lt;font&gt;500,000,000&lt;/font&gt; shares authorized as of December 31, 2014 and 2015; &lt;font&gt;240,714,103&lt;/font&gt;&amp;#160;and &lt;font&gt;279,214,103&lt;/font&gt;&amp;#160;shares issued as of December 31, 2014 and 2015, respectively and &lt;font&gt;223,577,853&lt;/font&gt;&amp;#160;and &lt;font&gt;260,836,578&lt;/font&gt;&amp;#160;shares outstanding as of December 31, 2014 and 2015, respectively)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;22,358&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;26,320&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Additional paid in capital&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;203,125,494&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;236,358,070&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Retained accumulated losses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(16,018,293&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,061,404&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Accumulated other comprehensive income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;20,037,183&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;8,780,313&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Treasury stock&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(398,672&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1,748,836&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total shareholders' equity&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;206,768,070&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;240,354,463&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;TOTAL LIABILITIES AND EQUITY&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;207,379,316&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;240,869,543&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FOR THE YEARS ENDED DECEMBER 31, 2012, 2013 AND 2014&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;(In U.S. dollars)&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;OPERATING EXPENSES&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; width: 61%; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;General and administrative&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2,979,454&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2,738,085&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(4,142,634&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Research and development&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(76,646&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(12,310&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; vertical-align: top; text-align: left; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total operating expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,056,100&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2,750,395&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(4,142,634&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;LOSS FROM OPERATION&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,056,100&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2,750,395&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(4,142,634&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Interest income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;3,130&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;8,144&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,641&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;Exchange gain&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;118,679&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;Income tax expense&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(108,992&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;NET LOSS BEFORE SHARE OF RESULTS OF SUBSIDIARIES&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,052,970&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2,742,251&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(4,131,306&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;
&lt;p style="font-family: 'times new roman'; margin-right: 0; margin-top: 0pt; margin-bottom: 0pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Equity in (losses) earnings of subsidiaries&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(67,890,514&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;19,391,427&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;17,088,195&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Net (loss) income attributable to Daqo New Energy Corporation ordinary shareholders&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(70,943,484&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;16,649,176&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;12,956,889&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Other comprehensive (loss) income:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Foreign currency translation adjustments&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,148,190&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,662,013&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(11,256,870&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total other comprehensive income (loss)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,148,190&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,662,013&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(11,256,870&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: rgb(204, 238, 255);"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Comprehensive (loss) income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(66,795,294&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;12,987,163&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,700,019&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;STATEMENT OF CHANGES IN EQUITY&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FOR YEARS ENDED DECEMBER 31, 2013, 2014 AND 2015&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;(In U.S. dollars, except share data)&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Ordinary shares&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Treasury Stock&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Additional&lt;br/&gt; paid in capital&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Retained&lt;br/&gt; earnings (accumulated&lt;br/&gt; losses)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Accumulated&lt;br/&gt; other&lt;br/&gt; comprehensive&lt;br/&gt; income&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Number&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance at January 1, 2013&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;172,877,433&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;17,288&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(494,928&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;144,755,902&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;38,276,015&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;19,551,006&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;202,105,283&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; vertical-align: top; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Net loss&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(70,943,484&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(70,943,484&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Other comprehensive income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,148,190&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,148,190&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Share-based compensation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,881,401&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,881,401&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Option Exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;550,420&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;55&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;96,256&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;38,860&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;135,171&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Deconsolidation of VIE&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance at December&amp;#160;31, 2013&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;173,427,853&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;17,343&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(398,672&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;146,676,163&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(32,667,469&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;23,699,196&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;137,326,561&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Net income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;16,649,176&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;16,649,176&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Other comprehensive income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,662,013&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,662,013&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Share-based compensation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,792,819&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;150,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;15&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;37,065&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;37,080&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Follow-on equity offering, net of issuance cost of $&lt;font&gt;3,375,553&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;50,000,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;5,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;54,619,447&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;54,624,447&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance at December&amp;#160;31, 2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;223,577,853&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;22,358&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(398,672&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;203,125,494&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(16,018,293&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;20,037,183&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;206,768,070&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Net income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;12,956,889&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;12,956,889&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Other comprehensive income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(11,256,870&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(11,256,870&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Share-based compensation&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
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&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;275,671&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;275,783&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Follow-on equity offering, net of issuance costs of $&lt;font&gt;2,033,041&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;38,500,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3,850&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;27,993,109&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;27,996,959&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Repurchase of Stock&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(2,356,900&lt;/font&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(1,350,164&lt;/font&gt; )&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(1,350,164&lt;/font&gt; )&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Capital injection from noncontrolling&amp;#160;shareholders&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;1,275,845&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;1,275,845&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance at December 31, 2015&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;260,836,578&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;26,320&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;(1,748,836&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;236,358,070&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3,061,404&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;8,780,313&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;240,354,463&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL STATEMENT SCHEDULE I&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;DAQO NEW ENERGY CORP.&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FINANCIAL INFORMATION OF PARENT COMPANY&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;STATEMENT OF CASH FLOWS&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;FOR THE YEARS ENDED DECEMBER 31, 2013, 2014 AND 2015&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;(In U.S. dollars)&lt;/strong&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;OPERATING ACTIVITIES&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; width: 61%; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Net (loss) income&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(70,943,484&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;16,649,176&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;12,956,888&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Share of results of subsidiaries&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;67,890,514&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(19,391,427&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(17,088,194&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Share-based compensation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,881,401&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,792,819&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;3,687,951&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Adjustments to reconcile net income to net cash used in operating activities:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 40px;"&gt;&lt;font style="font-size: 10pt;"&gt;Prepaid expenses and other current assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;344,717&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(27,195&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;11,099&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 40px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Changes in other current liabilities&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;137,390&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(26,901&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(96,166&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 40px;"&gt;&lt;font style="font-size: 10pt;"&gt;Amount due to a related party&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;286,526&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(286,526&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 40px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;Income tax payable&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;-&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;108,992&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Net cash used in operating activities&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(689,462&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(717,002&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(705,956&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;INVESTING ACTIVITIES&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Capital contributed to subsidiaries&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(54,638,421&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(33,256,774&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Cash collected from subsidiaries when liquidation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;71,503&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Disposition of&amp;#160;minority interest in subsidiary&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;5,110,085&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Net cash used in investing activities&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;71,503&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(54,638,421&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(28,146,689&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;FINANCING ACTIVITIES&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Repurchase of ordinary shares&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1,350,164&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Proceeds from follow-on equity offering&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;58,000,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;30,030,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Insurance cost for follow-on equity&amp;#160;offering&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(3,375,553&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(2,033,041&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; width: 20px;"&gt;&lt;font style="font-size: 10pt;"&gt;Proceeds from options exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;135,171&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;37,080&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;275,783&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Net cash provided by financing activities&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;135,171&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;54,661,527&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;26,922,578&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;NET DECREASE IN CASH AND CASH EQUIVALENTS&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(482,788&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px 0px 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(693,896&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(1,930,067&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;5,669,834&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;5,187,046&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;4,493,150&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;CASH AND CASH EQUIVALENTS AT END OF PERIOD&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;5,187,046&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;4,493,150&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;2,563,083&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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  <us-gaap:SegmentReportingDisclosureTextBlock id="Tag1067" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;20. SEGMENT INFORMATION&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;The
Group'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&lt;/font&gt;, &lt;font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"&gt;the
Group operated and viewed its performance in three segments. However, on September 28, 2012, the module business was disposed.
Therefore, only two segments remained in 2013, 2014 and 2015. Furthermore, the Group's chief operating decision maker is not provided
with asset information by segment. As such, no asset information by segment is presented. The following tables summarized the
Group's revenue and cost generated from different revenue streams. Substantially all of its revenues are derived in the
PRC. The Group's long lived assets and operations are substantially all located in the PRC. &lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The following table summarizes the Group's revenue by segment:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31, 2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Polysilicon&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Wafer&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Elimination&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - External&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;76,721,105&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;32,278,700&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;-&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;108,999,805&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding: 0px 5px; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - Intersegment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;89,916,943&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;32,278,700&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;108,999,805&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Cost of revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;98,684,325&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;49,614,921&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;135,103,408&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Gross loss&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(8,767,382&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px 0px 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(17,336,221&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(26,103,603&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31, 2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Polysilicon&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Wafer&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Elimination&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - External&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;127,692,325&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;54,879,527&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,571,852&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - Intersegment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;29,424,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(29,424,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"&gt;&lt;font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;157,117,208&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;54,879,527&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(29,424,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,571,852&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Cost of revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;119,703,550&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;47,861,811&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(28,256,850&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;139,308,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Gross Profit&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;37,413,658&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;7,017,716&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(1,168,033&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;43,263,341&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Polysilicon&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Wafer&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Elimination&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue &amp;#150; External&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;125,916,457&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;56,124,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,040,968&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - Intersegment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;23,485,364&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(23,485,364&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;149,401,821&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;56,124,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(23,485,364&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,040,968&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Cost of revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;121,193,840&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;46,763,308&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(23,466,065&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;144,491,083&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Gross Profit&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;28,207,981&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;9,361,203&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(19,299&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;37,549,885&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The following customers accounted for 10% or more of revenues:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 80%; margin-left: 1in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;"&gt;Customer B&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;19,644,488&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;$&lt;/font&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;23,882,302&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;$&lt;/font&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;18,125,773&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Customer C&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font&gt;18,210,196&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font&gt;19,595,911&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;"&gt;Customer D&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;13,471,873&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Customer J&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"&gt;&lt;font&gt;35,094,472&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Customer K&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;20,465,558&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div align="left"&gt;
&lt;div style="font-size: 1pt; border-top: Black 1pt solid; width: 20%;"&gt;&amp;#160;&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 2%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 97%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;
&lt;div&gt;Represents less than 10%&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
  <us-gaap:Revenues id="Tag1068" contextRef="D2014-01-01_To_2014-12-31_CustomerOneMember" unitRef="USD" decimals="0">18210196</us-gaap:Revenues>
  <us-gaap:Revenues id="Tag1069" contextRef="D2013-01-01_To_2013-12-31_CustomerTwelveMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:Revenues id="Tag1070" contextRef="D2015-01-01_To_2015-12-31_CustomerTwelveMember" unitRef="USD" decimals="0">20465558</us-gaap:Revenues>
  <us-gaap:Revenues id="Tag1071" contextRef="D2014-01-01_To_2014-12-31_CustomerSixMember" unitRef="USD" decimals="0">23882302</us-gaap:Revenues>
  <us-gaap:Revenues id="Tag1072" contextRef="D2015-01-01_To_2015-12-31_CustomerSixMember" unitRef="USD" decimals="0">18125773</us-gaap:Revenues>
  <us-gaap:BankAcceptancesExecutedAndOutstanding id="Tag1073" contextRef="I2015-12-31" unitRef="USD" decimals="-5">22600000</us-gaap:BankAcceptancesExecutedAndOutstanding>
  <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock id="Tag1074" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31, 2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Polysilicon&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Wafer&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Elimination&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - External&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;76,721,105&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;32,278,700&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;-&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;108,999,805&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; padding: 0px 5px; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - Intersegment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;89,916,943&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;32,278,700&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;108,999,805&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Cost of revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;98,684,325&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;49,614,921&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(13,195,838&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;135,103,408&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Gross loss&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(8,767,382&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px 0px 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(17,336,221&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(26,103,603&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31, 2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Polysilicon&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Wafer&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Elimination&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - External&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;127,692,325&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;54,879,527&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,571,852&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - Intersegment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;29,424,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(29,424,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"&gt;&lt;font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;157,117,208&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;54,879,527&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(29,424,883&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,571,852&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Cost of revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;119,703,550&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;47,861,811&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(28,256,850&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;139,308,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Gross Profit&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;37,413,658&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;7,017,716&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(1,168,033&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;43,263,341&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Polysilicon&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Wafer&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Elimination&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue &amp;#150; External&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;125,916,457&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;56,124,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,040,968&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue - Intersegment&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;23,485,364&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(23,485,364&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;149,401,821&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;56,124,511&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(23,485,364&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;182,040,968&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Total Cost of revenue&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;121,193,840&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;46,763,308&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(23,466,065&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;144,491,083&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Gross Profit&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;28,207,981&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;9,361,203&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;(19,299&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;)&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;37,549,885&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
  <us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock id="Tag1075" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 80%; margin-left: 1in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td nowrap="nowrap" style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;"&gt;Customer B&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;19,644,488&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;$&lt;/font&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;23,882,302&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;$&lt;/font&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;18,125,773&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Customer C&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font&gt;18,210,196&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"&gt;&lt;font&gt;19,595,911&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;"&gt;Customer D&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;13,471,873&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Customer J&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"&gt;&lt;font&gt;35,094,472&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Customer K&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"&gt;&lt;font&gt;20,465,558&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div align="left"&gt;
&lt;div style="font-size: 1pt; border-top: Black 1pt solid; width: 20%;"&gt;&amp;#160;&lt;/div&gt;
&lt;/div&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 2%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;*&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 97%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;
&lt;div&gt;Represents less than 10%&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
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  <dq:ProvisionForReversalOfDoubtfulAccounts id="Tag1153" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">5482019</dq:ProvisionForReversalOfDoubtfulAccounts>
  <us-gaap:IncreaseDecreaseInAccountsReceivable id="Tag1154" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">-12431119</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <dq:IncreaseDecreaseInAdvancePayments id="Tag1155" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">122753</dq:IncreaseDecreaseInAdvancePayments>
  <us-gaap:IncreaseDecreaseInAccountsPayable id="Tag1156" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">5349428</us-gaap:IncreaseDecreaseInAccountsPayable>
  <us-gaap:IncreaseDecreaseInCustomerAdvances id="Tag1157" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">-4254342</us-gaap:IncreaseDecreaseInCustomerAdvances>
  <us-gaap:NetCashProvidedByUsedInInvestingActivitiesContinuingOperations id="Tag1158" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">-30696113</us-gaap:NetCashProvidedByUsedInInvestingActivitiesContinuingOperations>
  <us-gaap:ProceedsFromBankDebt id="Tag1159" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">176114553</us-gaap:ProceedsFromBankDebt>
  <us-gaap:ProceedsFromBankDebt id="Tag1160" contextRef="D2015-01-01_To_2015-12-31" unitRef="USD" decimals="0">237031976</us-gaap:ProceedsFromBankDebt>
  <us-gaap:RepaymentsOfBankDebt id="Tag1161" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">113745197</us-gaap:RepaymentsOfBankDebt>
  <us-gaap:NetCashProvidedByUsedInFinancingActivitiesContinuingOperations id="Tag1162" contextRef="D2015-01-01_To_2015-12-31" unitRef="USD" decimals="0">15242079</us-gaap:NetCashProvidedByUsedInFinancingActivitiesContinuingOperations>
  <us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents id="Tag1163" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">-452694</us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease id="Tag1164" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">1152060</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:PaymentsOfStockIssuanceCosts id="Tag1165" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">3375553</us-gaap:PaymentsOfStockIssuanceCosts>
  <us-gaap:GainLossOnSaleOfPropertyPlantEquipment id="Tag1166" contextRef="D2015-01-01_To_2015-12-31" unitRef="USD" decimals="0">-166283</us-gaap:GainLossOnSaleOfPropertyPlantEquipment>
  <us-gaap:ConsolidationPolicyTextBlock id="Tag1167" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;(b) Basis of consolidations&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;</us-gaap:ConsolidationPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock id="Tag1168" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:EarningsPerSharePolicyTextBlock id="Tag1169" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"&gt;&lt;strong&gt;&lt;em&gt;(s) (Loss) earnings per share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Basic (loss) earnings per ordinary share are computed by dividing the net (loss) net income 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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.&lt;/p&gt;
&lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:ConsolidationVariableInterestEntityPolicy id="Tag1170" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group&amp;#160;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 Group&amp;#160;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 Group's Consolidated Financial Statements.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ConsolidationVariableInterestEntityPolicy>
  <us-gaap:LeaseAndRentalExpense id="Tag1171" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">628052</us-gaap:LeaseAndRentalExpense>
  <dq:UnrestrictedCashSubsidies id="Tag1172" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">926173</dq:UnrestrictedCashSubsidies>
  <us-gaap:AssetReportingCurrencyDenominatedValue id="Tag1173" contextRef="I2015-12-31" unitRef="USD" decimals="0">30891550</us-gaap:AssetReportingCurrencyDenominatedValue>
  <us-gaap:StockRepurchaseProgramAuthorizedAmount1 id="Tag1174" contextRef="I2013-12-31" unitRef="USD" decimals="-6">5000000</us-gaap:StockRepurchaseProgramAuthorizedAmount1>
  <dq:WorkingCapital id="Tag1175" contextRef="I2015-12-31" unitRef="USD" decimals="-5">-186600000</dq:WorkingCapital>
  <dq:PropertyPlantAndEquipmentYetToBeRelocated id="Tag1176" contextRef="I2014-12-31_CarryingReportedAmountFairValueDisclosureMember_SignificantProductionAssetsMember" unitRef="USD" decimals="-5">70000000</dq:PropertyPlantAndEquipmentYetToBeRelocated>
  <us-gaap:OtherAssetsCurrent id="Tag1177" contextRef="I2014-12-31" unitRef="USD" decimals="0">366900</us-gaap:OtherAssetsCurrent>
  <us-gaap:DebtLongtermAndShorttermCombinedAmount id="Tag1178" contextRef="I2015-12-31" unitRef="USD" decimals="0">242485425</us-gaap:DebtLongtermAndShorttermCombinedAmount>
  <us-gaap:DebtInstrumentInterestRateStatedPercentage id="Tag1179" contextRef="I2015-12-31_HuaxiaBankMember_FacilityOneMember" unitRef="Pure" decimals="INF">0.0665</us-gaap:DebtInstrumentInterestRateStatedPercentage>
  <us-gaap:RepaymentsOfLinesOfCredit id="Tag1180" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember" unitRef="USD" decimals="-5">55400000</us-gaap:RepaymentsOfLinesOfCredit>
  <us-gaap:DebtInstrumentTerm id="Tag1181" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember">P4Y</us-gaap:DebtInstrumentTerm>
  <us-gaap:DebtInstrumentCollateralAmount id="Tag1182" contextRef="I2014-06-30_BankOfChinaMember" unitRef="USD" decimals="-5">73900000</us-gaap:DebtInstrumentCollateralAmount>
  <us-gaap:LongTermDebt id="Tag1183" contextRef="I2014-12-31_LineOfCreditMember_ChinaConstructionBankMember" unitRef="USD" decimals="0">6444680</us-gaap:LongTermDebt>
  <us-gaap:LongTermDebt id="Tag1184" contextRef="I2015-12-31_LineOfCreditMember_HuaxiaBankMember" unitRef="USD" decimals="0">3079180</us-gaap:LongTermDebt>
  <us-gaap:LossContingencyAccrualAtCarryingValue id="Tag1185" contextRef="I2015-12-31" unitRef="USD" xsi:nil="true" />
  <us-gaap:DeferredRevenueByArrangementDisclosureTextBlock id="Tag1186" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse; margin-left: 0.27in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ffffff;"&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Customer E&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;8,041,836&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;3,237,308&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Customer F&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;2,405,619&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;1,517,402&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Customer I&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;1,539,590&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Customer L&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;111&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;781,342&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Others&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;262,636&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;1,107,734&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;10,710,202&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;8,183,376&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Less:&amp;#160;Current&amp;#160;portion&amp;#160;of&amp;#160;advances&amp;#160;from&amp;#160;customers&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;7,308,535&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;8,183,376&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Long term advances from customers&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;3,401,667&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:DeferredRevenueByArrangementDisclosureTextBlock>
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  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage id="Tag1188" contextRef="D2015-01-11_To_2015-01-12_EmployeeStockOptionMember_IndependentDirectorsMember_ShareBasedCompensationAwardTrancheTwoMember" unitRef="Pure" decimals="2">0.25</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate id="Tag1189" contextRef="D2014-01-01_To_2014-12-31_EmployeeStockOptionMember_AwardDateGrantedOneMember" unitRef="Pure" decimals="4">0.0277</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod id="Tag1190" contextRef="D2015-01-01_To_2015-12-31" unitRef="Shares" decimals="INF">1307743</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod id="Tag1191" contextRef="D2015-01-01_To_2015-12-31" unitRef="Shares" decimals="INF">557882</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod>
  <us-gaap:FairValueDisclosuresTextBlock id="Tag1192" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;12. FAIR VALUE MEASUREMENTS&lt;/strong&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;div&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt; &lt;div class="CursorPointer"&gt; &lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt; &lt;td colspan="18" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Description&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt; &lt;td colspan="2" style="border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt; &lt;p style="margin: 0pt 0; font-family: 'times new roman';"&gt;&lt;strong&gt;Carrying&lt;br/&gt;amount&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Quoted&amp;#160;Prices&amp;#160;in&lt;br/&gt;Active&amp;#160;Markets&lt;br/&gt;for&amp;#160;Identical&lt;br/&gt;Assets&amp;#160;(Level 1)&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Significant&lt;br/&gt;Other&lt;br/&gt;Observable&lt;br/&gt; Inputs&amp;#160;(Level 2)&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Significant&lt;br/&gt;Unobservable&lt;br/&gt;Inputs&amp;#160;(Level 3)&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&amp;#160;&lt;/td&gt; &lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"&gt;&lt;strong&gt;&lt;font style="font-family: 'Times New Roman';"&gt;Total&amp;#160;Losses&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt; &lt;td style="text-indent: 9.5pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: -12px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;"&gt;Property, plant and equipment &amp;#150; identified untransferrable relocation assets&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;1,622,588&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; border-color: #000000; padding: 0px 5px; font-family: 'Times New Roman'; text-align: right; width: 10%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;-&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt; &lt;td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;1,622,588&lt;/font&gt;&lt;/td&gt; &lt;td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;/div&gt;  &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt;"&gt;During the year ended December 31, 2014, long-lived assets held and used with a carrying amount of $&lt;font&gt;308&lt;/font&gt; million were written down to their fair value of $&lt;font&gt;150&lt;/font&gt; million, resulting in an impairment charge of $&lt;font&gt;158&lt;/font&gt; million, about $&lt;font&gt;143&lt;/font&gt; million of this amount related to Daqo New Material. &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 28.4px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;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. Along with the complicated and comprehensive relocation preparation for the remaining assets in Chongqing, the Company together with a professional transport company identified the assets with a carrying amount of $&lt;font&gt;1.6&lt;/font&gt; million that were not transferrable and could not be reutilized by its Xinjiang expansion project, and these assets were written down to their fair value of &lt;font&gt;zero&lt;/font&gt;, which was closed to their salvage value, as of December 31, 2015. Therefore there was an impairment charge of $&lt;font&gt;1.6&lt;/font&gt; million in 2015. See Note 3, &amp;#147;Relocation of Polysilicon Operations to Xinjiang&amp;#148; for further details.&lt;/font&gt;&lt;/p&gt; &lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:DefinedContributionPlanCostRecognized id="Tag1193" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">3130308</us-gaap:DefinedContributionPlanCostRecognized>
  <us-gaap:DeferredTaxAssetsOperatingLossCarryforwards id="Tag1194" contextRef="I2015-12-31" unitRef="USD" decimals="0">22549975</us-gaap:DeferredTaxAssetsOperatingLossCarryforwards>
  <us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts id="Tag1195" contextRef="I2015-12-31" unitRef="USD" decimals="0">163120</us-gaap:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts>
  <us-gaap:EffectiveIncomeTaxRateReconciliationTaxHolidays id="Tag1196" contextRef="D2013-01-01_To_2013-12-31" unitRef="Pure" decimals="2">0.02</us-gaap:EffectiveIncomeTaxRateReconciliationTaxHolidays>
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate id="Tag1197" contextRef="D2013-01-01_To_2013-12-31" unitRef="Pure" decimals="2">0.03</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate>
  <us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential id="Tag1198" contextRef="D2013-01-01_To_2013-12-31" unitRef="Pure" xsi:nil="true" />
  <dq:ValuationAllowanceDeferredTaxAssetAdjustmentForDeconsolidation id="Tag1199" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">-39357744</dq:ValuationAllowanceDeferredTaxAssetAdjustmentForDeconsolidation>
  <us-gaap:IncomeTaxHolidayAggregateDollarAmount id="Tag1200" contextRef="D2015-01-01_To_2015-12-31" unitRef="USD" decimals="-5">1200000</us-gaap:IncomeTaxHolidayAggregateDollarAmount>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="Tag1201" contextRef="D2013-01-01_To_2013-12-31" unitRef="Shares" decimals="INF">140000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice id="Tag1202" contextRef="I2014-12-31" unitRef="USDPerShare" decimals="2">0.87</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber id="Tag1203" contextRef="I2015-12-31" unitRef="Shares" decimals="INF">9965138</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="Tag1204" contextRef="D2015-01-01_To_2015-12-31" unitRef="USDPerShare" decimals="2">0.59</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <dq:VestingInstallmentsDuringVestingPeriod id="Tag1205" contextRef="D2015-01-11_To_2015-01-12_EmployeeStockOptionMember_RelevantEmployeesAndExecutiveOfficersMember" unitRef="Pure" decimals="0">36</dq:VestingInstallmentsDuringVestingPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue id="Tag1206" contextRef="I2015-12-31" unitRef="USD" decimals="0">2973866</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag1207" contextRef="I2015-12-31_DaqoXinjiangInvestmentCoLtdMember" unitRef="USD" decimals="0">3146054</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Tag1208" contextRef="D2014-01-01_To_2014-12-31_DaqoGroupMember_PaymentsForFinancingTransactionMember" unitRef="USD" decimals="0">8115813</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RevenueFromRelatedParties id="Tag1209" contextRef="D2014-01-01_To_2014-12-31_DaqoSolarCoLtdMember" unitRef="USD" decimals="0">9595680</us-gaap:RevenueFromRelatedParties>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Tag1210" contextRef="D2015-01-01_To_2015-12-31_ProceedsFromFinancingTransactionMember_DaqoSolarCoLtdMember" unitRef="USD" decimals="0">127060826</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty id="Tag1211" contextRef="D2013-01-01_To_2013-12-31_PurchasesOfFixedAssetsMember_OtherSubsidiariesOfDaqoGroupMember" unitRef="USD" decimals="0">157742</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
  <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty id="Tag1212" contextRef="D2015-01-01_To_2015-12-31_OtherSubsidiariesOfDaqoGroupMember_PurchasesOfRawMaterialsMember" unitRef="USD" decimals="0">22817</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
  <us-gaap:RevenueFromRelatedParties id="Tag1213" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">19150112</us-gaap:RevenueFromRelatedParties>
  <us-gaap:RevenueFromRelatedParties id="Tag1214" contextRef="D2015-01-01_To_2015-12-31" unitRef="USD" decimals="0">11894944</us-gaap:RevenueFromRelatedParties>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Tag1215" contextRef="D2013-01-01_To_2013-12-31_CashPaymentsForTransactionsMember" unitRef="USD" decimals="0">69386568</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Tag1216" contextRef="D2015-01-01_To_2015-12-31_CashPaymentsForTransactionsMember" unitRef="USD" decimals="0">276575346</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag1217" contextRef="I2014-12-31_JiangsuDaqoMember" unitRef="USD" decimals="0">1200018</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Tag1218" contextRef="D2015-01-01_To_2015-12-31_ProceedsFromFinancingTransactionMember_DaqoNewMaterialMember" unitRef="USD" decimals="0">11082241</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <dq:DepositarySharesIssuedDuringPeriodShares id="Tag1219" contextRef="D2014-05-01_To_2014-05-31" unitRef="Shares" decimals="INF">2000000</dq:DepositarySharesIssuedDuringPeriodShares>
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Tag1220" contextRef="D2014-01-01_To_2014-12-31_DaqoNewMaterialMember_RentalExpensesMember" unitRef="USD" decimals="0">1071287</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock id="Tag1221" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Numerator used in basic and diluted earnings per share:&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 61%;"&gt;Net (loss) income attributable to Daqo New Energy Corp. ordinary shareholders&amp;#151;basic and diluted&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;(70,943,484&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;16,649,176&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"&gt;&lt;font&gt;12,956,889&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;strong&gt;Denominator used in basic and diluted earnings per share:&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;Weighted average number of ordinary shares outstanding used in computing earnings per share&amp;#151;basic&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;173,068,420&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;206,349,976&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;258,015,851&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Plus: share options&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;5,003,667&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;3,396,082&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Weighted average number of ordinary shares outstanding used in computing earnings per share&amp;#151;diluted&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;173,068,420&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;211,353,643&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;261,411,933&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&amp;#151;Basic&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;(0.41&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;)&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;0.08&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;0.05&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&amp;#151;Diluted&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;$&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;(0.41&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;)&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;&lt;font&gt;0.08&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;font&gt;0.05&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"&gt;&lt;/td&gt;
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  <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock id="Tag1349" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;&lt;font&gt;1&lt;/font&gt;. ORGANIZATION AND PRINCIPAL ACTIVITIES&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;The consolidated financial statements include the financial statements of Daqo New Energy Corp. (the &amp;#147;Company&amp;#148;), its wholly owned subsidiaries, Chongqing Daqo New Energy Co., Ltd. (&amp;#147;Chongqing Daqo&amp;#148;), &amp;#160;Xinjiang Daqo New Energy Co., Ltd (&amp;#147;Xinjiang Daqo&amp;#148;), Daqo Solar Energy North America (&amp;#147;Daqo America&amp;#148;) (which was liquidated in 2013) and Daqo New Energy Holdings (Canada) Ltd.(&amp;#147;Daqo Canada&amp;#148;) (which was liquidated in 2013) and its consolidated variable interest entity (&amp;#147;VIE&amp;#148;) Daqo New Material Co., Ltd. (&amp;#147;Daqo New Material&amp;#148;) (which was deconsolidated on December 31, 2013) (collectively, the &amp;#147;Group&amp;#148;).&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"&gt;The Company was incorporated on November&amp;#160;22,
2007 in the Cayman Islands. Chongqing Daqo, and Xinjiang Daqo were incorporated by the Company on January&amp;#160;14, 2008, December&amp;#160;20,
2007 and February&amp;#160;22, 2011, respectively, in the Peoples' Republic of China (&amp;#147;PRC&amp;#148;). 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="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;Daqo New Material and the Company were under common control by Daqo New Material's ultimate shareholders prior to November 11, 2009. Daqo New Material was established by Daqo Group, an affiliate of the Company on November&amp;#160;16, 2006, for the primary purpose of developing a photovoltaic business. Daqo New Material'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's land and production infrastructure.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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's land, production infrastructure
and machinery and equipment for the Group's polysilicon production. The lease period was from July&amp;#160;1, 2008 to December&amp;#160;31,
2013, with monthly lease payments that had been renegotiated periodically and were 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
had 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
desired to transfer the ownership of the leased assets to a third party, Chongqing Daqo had the right of first refusal to acquire
the leased assets under the same conditions. If the leased assets were transferred to a third party, the lease agreement was remain
effective and enforceable against the new owner.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; 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'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 Material, 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's total equity interests in Daqo New Material are presented as a noncontrolling interest.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; 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.&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;In the periods presented, the Group manufactured and sold polysilicon and wafers through Chongqing Daqo and Xinjiang Daqo.&lt;/p&gt; &lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"&gt;In August 2015, the Company's subsidiary, Xinjiang Daqo, issued stock representing &lt;font&gt;1&lt;/font&gt;% equity interest &amp;#160;to Daqo Xinjiang Investment Co., Ltd. ("Xinjiang Daqo Investment"), an affiliated company which is &lt;font&gt;100&lt;/font&gt;% held by Daqo Group, for total cash proceeds of $&lt;font&gt;2.5&lt;/font&gt; million, which is based on the fair value of Xinjiang Daqo. Xinjiang Daqo Investment's equity interests in Xinjiang Daqo are presented as a noncontrolling interest in the Group's consolidated financial statements.&lt;br/&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
  <us-gaap:CostOfSalesPolicyTextBlock id="Tag1350" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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. Cost of revenues does not include shipping and handling expenses, therefore the Group's cost of revenues may not be comparable to other companies which include such expense in their costs of revenues.&lt;/p&gt;
&lt;/div&gt;</us-gaap:CostOfSalesPolicyTextBlock>
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; margin-left: 0.1px; margin-right: 0.1px;" width="85%"&gt;

&lt;tr&gt;
&lt;td style="vertical-align: top; width: 82%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Buildings and plant&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; width: 18%; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;30&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Machinery and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;15&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Furniture, fixtures and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;3&lt;/font&gt;-&lt;font&gt;5&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Motor vehicles&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;6&lt;/font&gt; years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The Group&amp;#160;reassesses the reasonableness of the estimates of useful lives and residual values of long-lived assets when events or changes in circumstances indicate that the useful lives and residual values of a major asset or a major category of assets may not be reasonable. Factors that the Group&amp;#160;considers in deciding when to perform an analysis of useful lives and residual values of long-lived assets include, but are not limited to, significant variance of a business or product line in relation to expectations, significant deviation from industry or economic trends, and significant changes or planned changes in the use of the assets. The analysis will be performed at the asset or asset category with the reference to the assets' conditions, current technologies, market, and future plan of usage and the useful lives of major competitors.&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;In &lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 33.7333335876465px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;2013, the Company decided to relocate a majority of Chongqing's polysilicon assets to Xinjiang. As part of the decision to make significant investment to relocate the assets, the Company&amp;#160;revisited the expectation as to the useful lives of these assets. Based on this review, the Company determined that the condition of its major assets, having now been in operations for a meaningful percentage of the original estimated lives, were in better condition, than the original useful life expectation had predicted, accordingly, the Company with the assistant of an independent valuation firm reassessed the remaining economic useful life of the polysilicon assets in both Chongqing and Xinjiang. The analysis was completed in the first quarter of 2014&lt;/font&gt;. Therefore, the Company revised the estimates of expected useful lives of long-lived assets from January 1, 2014. The useful lives of machinery and equipment were expended from &lt;font&gt;10&lt;/font&gt; years to &lt;font&gt;15&lt;/font&gt; years, while buildings and structures were expended from &lt;font&gt;20&lt;/font&gt; years to &lt;font&gt;30&lt;/font&gt; years. No changes were made to furniture, fixtures and equipment, or motor vehicles. During the years ended December 31, 2014 and 2015, the change in useful lives reduced depreciation expense of approximately $&lt;font&gt;18.7&lt;/font&gt;&amp;#160;million and $&lt;font&gt;18.7&lt;/font&gt; million, a majority of which was recorded in "Total cost of revenues", accordingly the impact on net income and basic net income per share are $&lt;font&gt;18.7&lt;/font&gt;&amp;#160;million and $&lt;font&gt;0.09&lt;/font&gt;&amp;#160;per ordinary share, and $&lt;font&gt;18.7&lt;/font&gt; million and $&lt;font&gt;0.07&lt;/font&gt; per ordinary share, respectively.&lt;/p&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Group&amp;#160;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 31, 2013, 2014 and 2015 was $&lt;font&gt;nil&lt;/font&gt;, $&lt;font&gt;1,960,259&lt;/font&gt;&amp;#160;and $&lt;font&gt;2,825,879&lt;/font&gt;&amp;#160;respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <us-gaap:IncomeTaxPolicyTextBlock id="Tag1352" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
  <us-gaap:ShortTermDebtWeightedAverageInterestRate id="Tag1353" contextRef="I2014-12-31" unitRef="Pure" decimals="3">0.068</us-gaap:ShortTermDebtWeightedAverageInterestRate>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag1354" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember" unitRef="USD" decimals="-5">58500000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock id="Tag1355" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The reporting currency of the Company&amp;#160;is the United States dollar (&amp;#147;U.S. dollar&amp;#148;). 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The financial records of the Company's PRC subsidiaries and VIE are maintained in Chinese Renminbi (&amp;#147;RMB&amp;#148;), 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 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;The RMB is not a freely convertible currency. The State Administration for Foreign Exchange of People's Republic of China, under the authority of the People'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's aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $&lt;font&gt;24,356,970&lt;/font&gt;&amp;#160;and $&lt;font&gt;30,891,550&lt;/font&gt; as of December 31, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
  <us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock id="Tag1356" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 86%; margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Accounts&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;receivable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 68%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer C&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,213,393&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer J&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;font&gt;1,578,947&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,996,042&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer M&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,330,145&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer H&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,071,415&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;6,354,510&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer N&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,315,035&lt;/font&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Customer B&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;2,299,732&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div align="left" style="margin-top: 0; margin-bottom: 0;"&gt;
&lt;div style="font-size: 1pt; border-top: Black 1pt solid; width: 15%;"&gt;&amp;#160;&lt;/div&gt;
&lt;/div&gt;
&lt;table width="100%" cellpadding="0" border="0" cellspacing="0" style="width: 100%;"&gt;

&lt;tr&gt;
&lt;td style="width: 0.25in; padding-right: 0.8pt;"&gt;
&lt;p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;*&lt;/font&gt;&lt;/p&gt;
&lt;/td&gt;
&lt;td style="padding-right: 0.8pt;"&gt;
&lt;div&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Represents less than 10%&lt;/font&gt;&lt;/div&gt;
&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
  <dq:ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock id="Tag1357" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer" align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; margin-left: 0.1px; margin-right: 0.1px;" width="85%"&gt;

&lt;tr&gt;
&lt;td style="vertical-align: top; width: 82%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Buildings and plant&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; width: 18%; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;30&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Machinery and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;15&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Furniture, fixtures and equipment&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;3&lt;/font&gt;-&lt;font&gt;5&lt;/font&gt;&amp;#160;years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;Motor vehicles&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;6&lt;/font&gt; years&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</dq:ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock>
  <us-gaap:RestrictedCashAndCashEquivalents id="Tag1358" contextRef="I2015-12-31" unitRef="USD" decimals="0">19062714</us-gaap:RestrictedCashAndCashEquivalents>
  <us-gaap:ShippingHandlingAndTransportationCosts id="Tag1359" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">1901384</us-gaap:ShippingHandlingAndTransportationCosts>
  <dq:GrantsRelatedToAssetsReceived id="Tag1360" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">1172160</dq:GrantsRelatedToAssetsReceived>
  <us-gaap:AccountsReceivableNetCurrent id="Tag1361" contextRef="I2015-12-31_CustomerSixMember" unitRef="USD" decimals="0">2299732</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:InterestCostsCapitalized id="Tag1362" contextRef="D2014-01-01_To_2014-12-31" unitRef="USD" decimals="0">1960259</us-gaap:InterestCostsCapitalized>
  <us-gaap:Depreciation id="Tag1363" contextRef="D2014-01-01_To_2014-12-31_ServiceLifeMember" unitRef="USD" decimals="-5">-18700000</us-gaap:Depreciation>
  <us-gaap:OtherCommitmentDueInNextTwelveMonths id="Tag1364" contextRef="I2015-12-31" unitRef="USD" decimals="-5">15500000</us-gaap:OtherCommitmentDueInNextTwelveMonths>
  <dq:AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect id="Tag1365" contextRef="D2013-01-01_To_2013-12-31" unitRef="USD" decimals="0">86296</dq:AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect>
  <us-gaap:AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock id="Tag1366" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer" style="margin-left: 0.27in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; margin-left: 0px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Beginning of the year&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,592,467&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;7,160,782&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3,189,110&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Allowances (Reversal) during the year&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;5,482,019&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(3,823,744&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(2,026,567&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;Foreign exchange effect&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;86,296&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(147,928&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;(75,078&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&lt;strong&gt;Closing balance&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;7,160,782&lt;/font&gt;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;3,189,110&lt;/font&gt;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;$&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;1,087,465&lt;/font&gt;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font style="font-size: 10pt; font-family: 'times new roman', times;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock>
  <us-gaap:InventoryDisclosureTextBlock id="Tag1367" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;7. INVENTORIES&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Inventories consist of the following:&lt;/p&gt;
&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer" style="margin-left: 0.28in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; /* margin-left: 23pt;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ffffff;"&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Raw materials&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;1,362,944&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;2,343,104&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Work-in-process&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;5,411,360&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;5,626,531&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Finished goods&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&lt;font&gt;2,807,480&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"&gt;&lt;font&gt;2,746,304&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;9,581,784&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;10,715,939&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Inventory write-down was $&lt;font&gt;29,905,734&lt;/font&gt;, $&lt;font&gt;175,568&lt;/font&gt;&amp;#160;and $&lt;font&gt;62,422&lt;/font&gt;&amp;#160;for the years ended December&amp;#160;31, 2013, 2014 and 2015, respectively.&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross id="Tag1368" contextRef="I2015-12-31_VehiclesMember" unitRef="USD" decimals="0">293331</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag1369" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember_FacilityOneMember" unitRef="CNY" decimals="-6">130000000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod id="Tag1370" contextRef="D2015-01-01_To_2015-12-31_HuaxiaBankMember_FacilityTwoMember" unitRef="CNY" decimals="-6">250000000</us-gaap:LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod>
  <us-gaap:DebtInstrumentCollateralAmount id="Tag1371" contextRef="I2015-12-31_HuaxiaBankMember" unitRef="USD" decimals="-5">8100000</us-gaap:DebtInstrumentCollateralAmount>
  <us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity id="Tag1372" contextRef="I2015-12-31_ChongqingRuralCommercialBankMember" unitRef="USD" decimals="-5">96200000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
  <us-gaap:LongtermDebtWeightedAverageInterestRate id="Tag1373" contextRef="I2015-12-31_LineOfCreditMember_1" unitRef="Pure" decimals="3">0.057</us-gaap:LongtermDebtWeightedAverageInterestRate>
  <us-gaap:LongTermDebt id="Tag1374" contextRef="I2015-12-31_LineOfCreditMember_BankOfChinaMember" unitRef="USD" decimals="0">70821140</us-gaap:LongTermDebt>
  <us-gaap:LongTermDebt id="Tag1375" contextRef="I2014-12-31_LineOfCreditMember_1" unitRef="USD" decimals="0">146697029</us-gaap:LongTermDebt>
  <us-gaap:DeferredRevenueDisclosureTextBlock id="Tag1376" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&lt;strong&gt;11. ADVANCES FROM CUSTOMERS&lt;/strong&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Advances from customers represent prepayments from customers and are recognized as revenue in accordance with the Group's revenue recognition policy.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;Advances from customers consist of the following and is analyzed as long term and short term portion respectively:&lt;/p&gt;
&lt;div&gt;
&lt;div style="display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse; margin-left: 0.27in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #ffffff;"&gt;
&lt;td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Customer E&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;8,041,836&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;3,237,308&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;Customer F&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;2,405,619&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;1,517,402&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Customer I&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;1,539,590&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Customer L&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;111&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;781,342&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;Others&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;262,636&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;1,107,734&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;10,710,202&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;8,183,376&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;Less:&amp;#160;Current&amp;#160;portion&amp;#160;of&amp;#160;advances&amp;#160;from&amp;#160;customers&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;7,308,535&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;strong&gt;&lt;font&gt;8,183,376&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;Long term advances from customers&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;3,401,667&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"&gt;&lt;strong&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;/div&gt;</us-gaap:DeferredRevenueDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentFairValueDisclosure id="Tag1377" contextRef="I2014-12-31_EstimateOfFairValueFairValueDisclosureMember" unitRef="USD" decimals="-6">150000000</us-gaap:PropertyPlantAndEquipmentFairValueDisclosure>
  <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock id="Tag1378" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 80%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year ended December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 55%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Current Tax (Benefit) Expenses&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(162,621&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,786,092&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred Tax Expenses (Benefit)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;1,434,386&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(648,271&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;1,271,765&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;1,137,821&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
  <us-gaap:CommonStockParOrStatedValuePerShare id="Tag1379" contextRef="I2015-12-31_ParentCompanyMember" unitRef="USDPerShare" decimals="INF">0.0001</us-gaap:CommonStockParOrStatedValuePerShare>
  <us-gaap:OperatingExpenses id="Tag1380" contextRef="D2013-01-01_To_2013-12-31_ParentCompanyMember" unitRef="USD" decimals="0">3056100</us-gaap:OperatingExpenses>
  <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock id="Tag1381" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;December 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; display: none;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; display: none;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; display: none;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Net operating loss carried forward&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;27,349,606&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;22,549,975&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Inventory write-down&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;26,141&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;-&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Bad debt provision&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;478,367&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;163,120&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Government grants related to assets&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;498,582&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;166,922&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Long-lived asset impairment&amp;amp;depreciation&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;21,009,037&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;19,624,021&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Others&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;748,018&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;485,776&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Sub-total&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;42,989,814&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Valuation Allowance&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(50,109,751&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;(42,362,849&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;&amp;#151;&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;$&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;&lt;font&gt;626,965&lt;/font&gt;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred tax assets are analyzed as:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;Current&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Non-current&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;626,965&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
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  <us-gaap:DeferredIncomeTaxExpenseBenefit id="Tag1382" contextRef="D2015-01-01_To_2015-12-31" unitRef="USD" decimals="0">-648271</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:DeferredTaxAssetsInventory id="Tag1383" contextRef="I2014-12-31" unitRef="USD" decimals="0">26141</us-gaap:DeferredTaxAssetsInventory>
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  <us-gaap:EffectiveIncomeTaxRateReconciliationDeductions id="Tag1385" contextRef="D2013-01-01_To_2013-12-31" unitRef="Pure" decimals="2">0.01</us-gaap:EffectiveIncomeTaxRateReconciliationDeductions>
  <us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential id="Tag1386" contextRef="D2015-01-01_To_2015-12-31" unitRef="Pure" decimals="2">0.08</us-gaap:EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential>
  <us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance id="Tag1387" contextRef="D2013-01-01_To_2013-12-31" unitRef="Pure" decimals="2">-0.26</us-gaap:EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance>
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  <us-gaap:IncomeTaxHolidayIncomeTaxBenefitsPerShare id="Tag1389" contextRef="D2014-01-01_To_2014-12-31" unitRef="USDPerShare" decimals="2">0.01</us-gaap:IncomeTaxHolidayIncomeTaxBenefitsPerShare>
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  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 id="Tag1391" contextRef="D2015-01-01_To_2015-12-31">P6Y4M17D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag1392" contextRef="I2014-12-31_DaqoXinjiangInvestmentCoLtdMember" unitRef="USD" decimals="0">23104709</us-gaap:DueToRelatedPartiesCurrent>
  <us-gaap:DueToRelatedPartiesCurrent id="Tag1393" contextRef="I2015-12-31_DaqoTransformerMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:RevenueFromRelatedParties id="Tag1394" contextRef="D2015-01-01_To_2015-12-31_ZhengjiangDaqoSolarCoLtdMember" unitRef="USD" decimals="0">11111239</us-gaap:RevenueFromRelatedParties>
  <us-gaap:RevenueFromRelatedParties id="Tag1395" contextRef="D2013-01-01_To_2013-12-31_NanjingDaqoMember" unitRef="USD" xsi:nil="true" />
  <us-gaap:RelatedPartyTransactionAmountsOfTransaction id="Tag1396" contextRef="D2014-01-01_To_2014-12-31_ProceedsFromFinancingTransactionMember_DaqoXinjiangInvestmentCoLtdMember" unitRef="USD" decimals="0">98367234</us-gaap:RelatedPartyTransactionAmountsOfTransaction>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock id="Tag1397" contextRef="D2015-01-01_To_2015-12-31">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&amp;#160;&lt;br/&gt;&lt;/p&gt;
&lt;div align="center"&gt;
&lt;table width="90%" cellpadding="0" border="0" cellspacing="0" style="margin-left: 0.1px; margin-right: 0.1px;"&gt;

&lt;tr&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="19" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year Ended December 31, 2013&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td valign="bottom" style="vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Options&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;granted&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;risk-free&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;rate of&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;return&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;multiple&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Volatility&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Dividend&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;yield&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Post-&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;vesting&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;forfeiture&lt;/strong&gt;&lt;/font&gt;&lt;br/&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td valign="bottom" style="vertical-align: bottom;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="background-color: #cceeff;"&gt;
&lt;td style="width: 35%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;April 3, 2013&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;2.29&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;2.8&lt;/font&gt; times&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;51.78&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;3&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; background-color: #cceeff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="center" style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year Ended December 31, 2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Options&lt;br/&gt; granted&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Average&lt;br/&gt; risk-free&lt;br/&gt; rate of&lt;br/&gt; return&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Exercise&lt;br/&gt; multiple&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Volatility&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Dividend&lt;br/&gt; yield&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Post-&lt;br/&gt; vesting&lt;br/&gt; forfeiture&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;January 28, 2014&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;2.77&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3.0&lt;/font&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;"&gt;-&lt;/font&gt;&lt;font&gt;3.5&lt;/font&gt;&amp;#160;times&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;93.0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3&lt;/font&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;"&gt;-&lt;/font&gt;&lt;font&gt;9.5&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td align="center" style="font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Year Ended December 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Options&lt;br/&gt; granted&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Average&lt;br/&gt; risk-free&lt;br/&gt; rate of&lt;br/&gt; return&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Exercise&lt;br/&gt; multiple&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Volatility&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Dividend&lt;br/&gt; yield&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;strong&gt;Post-&lt;br/&gt; vesting&lt;br/&gt; forfeiture&lt;br/&gt; rate&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;January 12, 2015&lt;/font&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;2.82&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;1.8&lt;/font&gt;-&lt;font&gt;3&lt;/font&gt; times&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;93.0&lt;/font&gt;&lt;font style="background-color: #cceeff;"&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt;%-&lt;font&gt;8&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;July 06, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;3.20&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&lt;font&gt;3&lt;/font&gt; times&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;91.0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;September 09, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;2.94&lt;/font&gt;%-&lt;font&gt;3.08&lt;/font&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif;"&gt;&lt;font&gt;&lt;font&gt;1.8&lt;/font&gt;-&lt;font&gt;3&lt;/font&gt; times&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;91.0&lt;/font&gt;%-&lt;font&gt;92.0&lt;/font&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;0&lt;/font&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"&gt;&lt;font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt;%-&lt;font&gt;8&lt;/font&gt;%&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;"&gt;&amp;#160;&lt;/td&gt;
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    <link:loc xlink:type="locator" xlink:label="value2305" xlink:href="#Tag306" />
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    <link:footnote xlink:type="resource" xml:lang="en-US" xlink:label="footnote2305" xlink:role="http://www.xbrl.org/2003/role/footnote">Represents less than 10%</link:footnote>
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The remaining balance of amounts due to related parties of $118,873 as of December 31, 2015 was comprised of Zhenjiang Moeller and Daqo Sailfar in the amount of $107,771 and $11,102, respectively.
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The purchase of fixed assets of $3,488,330 was comprised of Nanjing Daqo Electric, Nanjing Daqo Transformer, Zhenjiang Moeller, Jiangsu Daqo, Jiangsu Daqo High Voltage Switchgear, Intelligent Apparatus in the amount of $93,795, $448,184, $2,005,617, $11,423, $483,764, $445,547 respectively.
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    <link:footnote xlink:type="resource" xml:lang="en-US" xlink:label="footnote12" xlink:role="http://www.xbrl.org/2003/role/footnote">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.</link:footnote>
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<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>21
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<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
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        <link:definition>001 - Document - Document and Entity Information</link:definition>
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        <link:definition>005 - Statement - CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME</link:definition>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-csocf" id="dq-csocf">
        <link:definition>008 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-oapa" id="dq-oapa">
        <link:definition>101 - Disclosure - ORGANIZATION AND PRINCIPAL ACTIVITIES</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      </link:roleType>
      <link:roleType roleURI="http://www.dqsolar.com/role/dq-sopap" id="dq-sopap">
        <link:definition>102 - Disclosure - SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      </link:roleType>
      <link:roleType roleURI="http://www.dqsolar.com/role/dq-eada" id="dq-eada">
        <link:definition>103 - Disclosure - EXIT and DISPOSAL ACTIVITIES</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-afdr" id="dq-afdr">
        <link:definition>105 - Disclosure - ALLOWANCES FOR DOUBTFUL RECEIVABLES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>106 - Disclosure - PREPAID EXPENSE AND OTHER CURRENT ASSETS</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-i" id="dq-i">
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>108 - Disclosure - PROPERTY, PLANT AND EQUIPMENT, NET</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-b" id="dq-b">
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        <link:usedOn>link:calculationLink</link:usedOn>
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        <link:definition>110 - Disclosure - ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</link:definition>
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        <link:definition>111 - Disclosure - ADVANCES FROM CUSTOMERS</link:definition>
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        <link:definition>114 - Disclosure - INCOME TAXES</link:definition>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-rptab" id="dq-rptab">
        <link:definition>116 - Disclosure - RELATED PARTY TRANSACTIONS AND BALANCES</link:definition>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-eps" id="dq-eps">
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        <link:definition>120 - Disclosure - SEGMENT INFORMATION</link:definition>
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      <link:roleType roleURI="http://www.dqsolar.com/role/dq-se" id="dq-se">
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        <link:definition>121 - Disclosure - FINANCIAL STATEMENT SCHEDULE I</link:definition>
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        <link:definition>305 - Disclosure - ALLOWANCES FOR DOUBTFUL RECEIVABLES (Tables)</link:definition>
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        <link:definition>306 - Disclosure - PREPAID EXPENSE AND OTHER CURRENT ASSETS (Tables)</link:definition>
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        <link:definition>307 - Disclosure - INVENTORIES (Tables)</link:definition>
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  <xsd:element name="WorkingCapital" id="dq_WorkingCapital" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="AverageProductionCostOfPolysilicon" id="dq_AverageProductionCostOfPolysilicon" type="us-types:perUnitItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInAdvancePayments" id="dq_IncreaseDecreaseInAdvancePayments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInPrepaidExpensesNoncurrent" id="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInAccruedWarrantyExpense" id="dq_IncreaseDecreaseInAccruedWarrantyExpense" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="SupplementalCashFlowInformationDivestituresConsiderationReceived" id="dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="SupplementalNonCashInvestingActivities" id="dq_SupplementalNonCashInvestingActivities" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="NanjingDaqoMember" id="dq_NanjingDaqoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SubsidiesPayableCurrent" id="dq_SubsidiesPayableCurrent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="AccountingPoliciesLineItems" id="dq_AccountingPoliciesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccountingPoliciesTable" id="dq_AccountingPoliciesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" id="dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="BankOfChinaMember" id="dq_BankOfChinaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BinomialOptionPricingModelExerciseMultiple" id="dq_BinomialOptionPricingModelExerciseMultiple" type="xbrli:pureItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="BinomialOptionPricingModelPostVestingForfeitureRate" id="dq_BinomialOptionPricingModelPostVestingForfeitureRate" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="CapitalContributedToSubsidiaries" id="dq_CapitalContributedToSubsidiaries" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CapitalConversionMember" id="dq_CapitalConversionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CapitalLeasesMonthlyPayment" id="dq_CapitalLeasesMonthlyPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="CashPaymentsForTransactionsMember" id="dq_CashPaymentsForTransactionsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CashProceedsFromTransactionsMember" id="dq_CashProceedsFromTransactionsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChinaConstructionBankMember" id="dq_ChinaConstructionBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChongqingDaqoNewEnergyCoLtdMember" id="dq_ChongqingDaqoNewEnergyCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChongqingRuralCommercialBankMember" id="dq_ChongqingRuralCommercialBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CommonStockOutstandingMember" id="dq_CommonStockOutstandingMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerHMember" id="dq_CustomerHMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerIMember" id="dq_CustomerIMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DaqoGroupMember" id="dq_DaqoGroupMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DaqoNewMaterialCoLtdMember" id="dq_DaqoNewMaterialCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DaqoNewMaterialMember" id="dq_DaqoNewMaterialMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DaqoSolarCoLtdMember" id="dq_DaqoSolarCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DaqoXinjiangInvestmentCoLtdMember" id="dq_DaqoXinjiangInvestmentCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" id="dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DebtGuaranteedByDaqoGroupAndThirdPartyMember" id="dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DispositionOfSubsidiaryMember" id="dq_DispositionOfSubsidiaryMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DocumentDocumentandEntityInformationAbstract" id="dq_DocumentDocumentandEntityInformationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FacilityOneMember" id="dq_FacilityOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="FacilityTwoMember" id="dq_FacilityTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GovernmentGrantsAndSubsidiesAbstract" id="dq_GovernmentGrantsAndSubsidiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="GrantsRecognizedAsOffsetToDepreciation" id="dq_GrantsRecognizedAsOffsetToDepreciation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="GrantsRelatedToAssetsReceived" id="dq_GrantsRelatedToAssetsReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="HuaxiaBankMember" id="dq_HuaxiaBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncreaseDecreaseInReceivablesFromInvestees" id="dq_IncreaseDecreaseInReceivablesFromInvestees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="IndependentDirectorsMember" id="dq_IndependentDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LandUseRightsAcquired" id="dq_LandUseRightsAcquired" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="LesseeLeasingArrangementsOperatingLeasesAnnualPayment" id="dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="LoanExtendedMember" id="dq_LoanExtendedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NoncashFinancingActivitiesAbstract" id="dq_NoncashFinancingActivitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NoncashInvestingActivitiesAbstract" id="dq_NoncashInvestingActivitiesAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OptionsGrantedApril3Member" id="dq_OptionsGrantedApril3Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OptionsGrantedPeriodFourMember" id="dq_OptionsGrantedPeriodFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
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  <xsd:element name="OptionsGrantedPeriodTwoMember" id="dq_OptionsGrantedPeriodTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherCustomersMember" id="dq_OtherCustomersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherItemsDisclosureTextBlock" id="dq_OtherItemsDisclosureTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="OtherSubsidiariesOfDaqoGroupMember" id="dq_OtherSubsidiariesOfDaqoGroupMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PaymentsForFinancingTransactionMember" id="dq_PaymentsForFinancingTransactionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PolysiliconMember" id="dq_PolysiliconMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PrepaymentReceivedMember" id="dq_PrepaymentReceivedMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ProceedsFromFinancingTransactionMember" id="dq_ProceedsFromFinancingTransactionMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ProcessingFeesMember" id="dq_ProcessingFeesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PurchasesOfFixedAssetsMember" id="dq_PurchasesOfFixedAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PurchasesOfRawMaterialsMember" id="dq_PurchasesOfRawMaterialsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RelevantEmployeesAndExecutiveOfficersMember" id="dq_RelevantEmployeesAndExecutiveOfficersMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="RentalExpensesMember" id="dq_RentalExpensesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfRelatedPartyBalancesLoansTableTextBlock" id="dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" id="dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ServiceExpensesMember" id="dq_ServiceExpensesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" id="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" id="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ShortTermLoanRenewals" id="dq_ShortTermLoanRenewals" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="SignificantProductionAssetsMember" id="dq_SignificantProductionAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="SupplementalCashFlowInformationDivestituresAbstract" id="dq_SupplementalCashFlowInformationDivestituresAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="UnrestrictedCashSubsidies" id="dq_UnrestrictedCashSubsidies" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ValueOfEquipmentReceived" id="dq_ValueOfEquipmentReceived" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="VestingInFirstSixMonthsMember" id="dq_VestingInFirstSixMonthsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="VestingInstallmentsDuringVestingPeriod" id="dq_VestingInstallmentsDuringVestingPeriod" type="xbrli:integerItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="VestingInYearOneMember" id="dq_VestingInYearOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="VestingInYearTwoMember" id="dq_VestingInYearTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="WaferMember" id="dq_WaferMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="XinjiangDaqoNewEnergyCoLtdMember" id="dq_XinjiangDaqoNewEnergyCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ZhengjiangDaqoSolarCoLtdMember" id="dq_ZhengjiangDaqoSolarCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DepreciableAssetMember" id="dq_DepreciableAssetMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NonrelatedPartyMember" id="dq_NonrelatedPartyMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ServiceMember" id="dq_ServiceMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ExpectedPlantCapacity" id="dq_ExpectedPlantCapacity" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="instant" />
  <xsd:element name="AverageCashCostOfPolysilicon" id="dq_AverageCashCostOfPolysilicon" type="us-types:perUnitItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="DepositarySharesIssuedDuringPeriodShares" id="dq_DepositarySharesIssuedDuringPeriodShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="ElectricityFeesMember" id="dq_ElectricityFeesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PropertyPlantAndEquipmentRelocated" id="dq_PropertyPlantAndEquipmentRelocated" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="PropertyPlantAndEquipmentYetToBeRelocated" id="dq_PropertyPlantAndEquipmentYetToBeRelocated" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element name="ValuationAllowanceDeferredTaxAssetAdjustmentForDeconsolidation" id="dq_ValuationAllowanceDeferredTaxAssetAdjustmentForDeconsolidation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="ValuationAllowanceDeferredTaxAssetForeignExchangeEffect" id="dq_ValuationAllowanceDeferredTaxAssetForeignExchangeEffect" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OptionsGrantedJanuary28Member" id="dq_OptionsGrantedJanuary28Member" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JiangsuDaqoMember" id="dq_JiangsuDaqoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NanjingDaqoBianyaqiMember" id="dq_NanjingDaqoBianyaqiMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ChongqingDaqoTailaiMember" id="dq_ChongqingDaqoTailaiMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DaqoTransformerMember" id="dq_DaqoTransformerMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NanjingDaqoElectricMember" id="dq_NanjingDaqoElectricMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ShortTermCreditBorrowingsMember" id="dq_ShortTermCreditBorrowingsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="PinganBankMember" id="dq_PinganBankMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" id="dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NanjingIntelligentApparatusCoLtdMember" id="dq_NanjingIntelligentApparatusCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NanjingIntelligentSoftwareCoLtdMember" id="dq_NanjingIntelligentSoftwareCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="DaqoInvestmentCoLtdMember" id="dq_DaqoInvestmentCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ShanghaiSailfarElectricTechnologyCoLtdMember" id="dq_ShanghaiSailfarElectricTechnologyCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="NumberOfBatchesAxis" id="dq_NumberOfBatchesAxis" type="xbrli:stringItemType" substitutionGroup="xbrldt:dimensionItem" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BatchesDomain" id="dq_BatchesDomain" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BatchOneMember" id="dq_BatchOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BatchTwoMember" id="dq_BatchTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BatchThreeMember" id="dq_BatchThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BatchFourMember" id="dq_BatchFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="BatchFiveMember" id="dq_BatchFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" id="dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" type="xbrli:durationItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="AwardDateGrantedOneMember" id="dq_AwardDateGrantedOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AwardDateGrantedTwoMember" id="dq_AwardDateGrantedTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AwardDateGrantedThreeMember" id="dq_AwardDateGrantedThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerOneMember" id="dq_CustomerOneMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AwardDateGrantedFourMember" id="dq_AwardDateGrantedFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerTwoMember" id="dq_CustomerTwoMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerThreeMember" id="dq_CustomerThreeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerFourMember" id="dq_CustomerFourMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerFiveMember" id="dq_CustomerFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerSixMember" id="dq_CustomerSixMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="AccumulatedImpairmentLoss" id="dq_AccumulatedImpairmentLoss" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="JiangsuDaquanHighVoltageSwitchgearCoLtdMember" id="dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="JiangsuDaqoKaifanElectricCoLtdMember" id="dq_JiangsuDaqoKaifanElectricCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ZhenjiangElectricEquipmentCoLtdMember" id="dq_ZhenjiangElectricEquipmentCoLtdMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" id="dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="IncomeLossFromDisposalOfFixedAssetsMember" id="dq_IncomeLossFromDisposalOfFixedAssetsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" id="dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element name="CustomerSevenMember" id="dq_CustomerSevenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerEightMember" id="dq_CustomerEightMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerNineMember" id="dq_CustomerNineMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerTenMember" id="dq_CustomerTenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerElevenMember" id="dq_CustomerElevenMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="CustomerTwelveMember" id="dq_CustomerTwelveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="ProvisionForReversalOfDoubtfulAccounts" id="dq_ProvisionForReversalOfDoubtfulAccounts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DeferredTaxAssets" id="dq_DeferredTaxAssets" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="AwardDateGrantedFiveMember" id="dq_AwardDateGrantedFiveMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="EffectiveIncomeTaxRateReconciliationWithholdTax" id="dq_EffectiveIncomeTaxRateReconciliationWithholdTax" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>22
<FILENAME>dq-20151231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--Created by The Vintage Group, Powered by IRIS Carbon-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-aeaocld" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-aeaocld" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-afcd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-afcd" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-bsobbd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-bsobbd" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-cacd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-cacd" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-eadad" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-eadad" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-epsd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-epsd" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-fssibsd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-fssibsd" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-id" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-id" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-itsoditaald" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-itsoditaald" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-itsoited" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-itsoited" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-peaocad" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-peaocad" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-csoo" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-csoo" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-csocli" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-csocli" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-cbs" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-cbs" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-bsopmobbd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-bsopmobbd" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-fssisocfd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-fssisocfd" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-fssisooacild" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-fssisooacild" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-csocf" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-csocf" />
  <link:roleRef roleURI="http://www.dqsolar.com/role/dq-itsoeitrd" xlink:type="simple" xlink:href="dq-20151231.xsd#dq-itsoeitrd" />
  <link:calculationLink xlink:type="extended" xlink:role="http://www.dqsolar.com/role/dq-aeaocld">
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesAndExciseTaxPayableCurrent" xlink:label="us-gaap_SalesAndExciseTaxPayableCurrent" xlink:title="us-gaap_SalesAndExciseTaxPayableCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_SalesAndExciseTaxPayableCurrent" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_SalesAndExciseTaxPayableCurrent" order="1" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:label="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:title="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" order="2" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:title="us-gaap_EmployeeRelatedLiabilitiesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_EmployeeRelatedLiabilitiesCurrent" order="3" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedProfessionalFeesCurrent" xlink:label="us-gaap_AccruedProfessionalFeesCurrent" xlink:title="us-gaap_AccruedProfessionalFeesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_AccruedProfessionalFeesCurrent" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_AccruedProfessionalFeesCurrent" order="4" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepositLiabilityCurrent" xlink:label="us-gaap_DepositLiabilityCurrent" xlink:title="us-gaap_DepositLiabilityCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_DepositLiabilityCurrent" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_DepositLiabilityCurrent" order="5" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPayableCurrent" xlink:label="us-gaap_InterestPayableCurrent" xlink:title="us-gaap_InterestPayableCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_InterestPayableCurrent" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_InterestPayableCurrent" order="6" weight="1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_SubsidiesPayableCurrent" xlink:label="dq_SubsidiesPayableCurrent" xlink:title="dq_SubsidiesPayableCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="dq_SubsidiesPayableCurrent" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to dq_SubsidiesPayableCurrent" order="7" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:title="us-gaap_OtherAccountsPayableAndAccruedLiabilities" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_OtherAccountsPayableAndAccruedLiabilities" order="8" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossContingencyAccrualAtCarryingValue" xlink:label="us-gaap_LossContingencyAccrualAtCarryingValue" xlink:title="us-gaap_LossContingencyAccrualAtCarryingValue" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="us-gaap_LossContingencyAccrualAtCarryingValue" xlink:title="Calculation : dq_AccruedExpensesAndOtherCurrentLiabilities to us-gaap_LossContingencyAccrualAtCarryingValue" order="18" weight="1" use="optional" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://www.dqsolar.com/role/dq-afcd">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CustomerAdvancesAndDeposits" xlink:label="us-gaap_CustomerAdvancesAndDeposits" xlink:title="us-gaap_CustomerAdvancesAndDeposits" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CustomerAdvancesNoncurrent" xlink:label="us-gaap_CustomerAdvancesNoncurrent" xlink:title="us-gaap_CustomerAdvancesNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CustomerAdvancesAndDeposits" xlink:to="us-gaap_CustomerAdvancesNoncurrent" xlink:title="Calculation : us-gaap_CustomerAdvancesAndDeposits to us-gaap_CustomerAdvancesNoncurrent" order="1" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CustomerAdvancesCurrent" xlink:label="us-gaap_CustomerAdvancesCurrent" xlink:title="us-gaap_CustomerAdvancesCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CustomerAdvancesAndDeposits" xlink:to="us-gaap_CustomerAdvancesCurrent" xlink:title="Calculation : us-gaap_CustomerAdvancesAndDeposits to us-gaap_CustomerAdvancesCurrent" order="2" weight="1" />
  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://www.dqsolar.com/role/dq-bsobbd">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:title="us-gaap_DebtLongtermAndShorttermCombinedAmount" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtCurrent" xlink:label="us-gaap_DebtCurrent" xlink:title="us-gaap_DebtCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="us-gaap_DebtCurrent" xlink:title="Calculation : us-gaap_DebtLongtermAndShorttermCombinedAmount to us-gaap_DebtCurrent" order="1" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermBankLoansAndNotesPayable" xlink:label="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:title="us-gaap_ShortTermBankLoansAndNotesPayable" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtCurrent" xlink:to="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:title="Calculation : us-gaap_DebtCurrent to us-gaap_ShortTermBankLoansAndNotesPayable" order="1" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent" xlink:title="us-gaap_LongTermDebtNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="us-gaap_LongTermDebtNoncurrent" xlink:title="Calculation : us-gaap_DebtLongtermAndShorttermCombinedAmount to us-gaap_LongTermDebtNoncurrent" order="2" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherShortTermBorrowings" xlink:label="us-gaap_OtherShortTermBorrowings" xlink:title="us-gaap_OtherShortTermBorrowings" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_DebtCurrent" xlink:to="us-gaap_OtherShortTermBorrowings" xlink:title="Calculation : us-gaap_DebtCurrent to us-gaap_OtherShortTermBorrowings" order="2" weight="1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="us-gaap_LongTermDebtCurrent" xlink:title="us-gaap_LongTermDebtCurrent" />
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  </link:calculationLink>
  <link:calculationLink xlink:type="extended" xlink:role="http://www.dqsolar.com/role/dq-cacd">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>23
<FILENAME>dq-20151231_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>24
<FILENAME>dq-20151231_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--Created by The Vintage Group, Powered by IRIS Carbon-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" />
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:label="label_dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AccruedExpensesAndOtherCurrentLiabilities" xml:lang="en-US" id="label_dq_AccruedExpensesAndOtherCurrentLiabilities">Accrued expenses and other current liabilities</link:label>
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    <link:label xlink:type="resource" xlink:label="label_dq_AccruedExpensesAndOtherCurrentLiabilities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AccruedExpensesAndOtherCurrentLiabilities_1" xml:lang="en-US" id="label_dq_AccruedExpensesAndOtherCurrentLiabilities_1">Accrued Expenses And Other Current Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="label_dq_AccruedExpensesAndOtherCurrentLiabilities_1" xlink:title="Label : dq_AccruedExpensesAndOtherCurrentLiabilities to label_dq_AccruedExpensesAndOtherCurrentLiabilities_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="label_dq_AccruedExpensesAndOtherCurrentLiabilities_2" xlink:title="Label : dq_AccruedExpensesAndOtherCurrentLiabilities to label_dq_AccruedExpensesAndOtherCurrentLiabilities_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccruedExpensesAndOtherCurrentLiabilities" xlink:to="label_dq_AccruedExpensesAndOtherCurrentLiabilities_3" xlink:title="Label : dq_AccruedExpensesAndOtherCurrentLiabilities to label_dq_AccruedExpensesAndOtherCurrentLiabilities_3" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccruedExpensesAndOtherCurrentLiabilities_4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_dq_AccruedExpensesAndOtherCurrentLiabilities_4" xml:lang="en-US" id="label_dq_AccruedExpensesAndOtherCurrentLiabilities_4">Total</link:label>
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    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PrepaidLandUseRightsPolicyTextBlock" xlink:label="dq_PrepaidLandUseRightsPolicyTextBlock" xlink:title="dq_PrepaidLandUseRightsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_PrepaidLandUseRightsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PrepaidLandUseRightsPolicyTextBlock" xml:lang="en-US" id="label_dq_PrepaidLandUseRightsPolicyTextBlock">Prepaid Land Use Rights Policy Text Block.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PrepaidLandUseRightsPolicyTextBlock" xlink:to="label_dq_PrepaidLandUseRightsPolicyTextBlock" xlink:title="Label : dq_PrepaidLandUseRightsPolicyTextBlock to label_dq_PrepaidLandUseRightsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_PrepaidLandUseRightsPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PrepaidLandUseRightsPolicyTextBlock_1" xml:lang="en-US" id="label_dq_PrepaidLandUseRightsPolicyTextBlock_1">Prepaid Land Use Rights [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PrepaidLandUseRightsPolicyTextBlock" xlink:to="label_dq_PrepaidLandUseRightsPolicyTextBlock_1" xlink:title="Label : dq_PrepaidLandUseRightsPolicyTextBlock to label_dq_PrepaidLandUseRightsPolicyTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_PrepaidLandUseRightsPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_PrepaidLandUseRightsPolicyTextBlock_2" xml:lang="en-US" id="label_dq_PrepaidLandUseRightsPolicyTextBlock_2">Prepaid land use rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PrepaidLandUseRightsPolicyTextBlock" xlink:to="label_dq_PrepaidLandUseRightsPolicyTextBlock_2" xlink:title="Label : dq_PrepaidLandUseRightsPolicyTextBlock to label_dq_PrepaidLandUseRightsPolicyTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xlink:label="dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xlink:title="dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xml:lang="en-US" id="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock">Tabular disclosure of the estimated useful lives of property and equipment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xlink:to="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xlink:title="Label : dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock to label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_1" xml:lang="en-US" id="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_1">Schedule of Property Plant and Equipment Depreciation Estimated Lives [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xlink:to="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_1" xlink:title="Label : dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock to label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_2" xml:lang="en-US" id="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_2">Schedule of Property, Plant and Equipment, Depreciation, Estimated Lives</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock" xlink:to="label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_2" xlink:title="Label : dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock to label_dq_ScheduleOfPropertyPlantAndEquipmentDepreciationEstimatedLivesTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AverageSellingPriceOfPolysilicon" xlink:label="dq_AverageSellingPriceOfPolysilicon" xlink:title="dq_AverageSellingPriceOfPolysilicon" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageSellingPriceOfPolysilicon" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AverageSellingPriceOfPolysilicon" xml:lang="en-US" id="label_dq_AverageSellingPriceOfPolysilicon">Average Selling Price Of Polysilicon.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageSellingPriceOfPolysilicon" xlink:to="label_dq_AverageSellingPriceOfPolysilicon" xlink:title="Label : dq_AverageSellingPriceOfPolysilicon to label_dq_AverageSellingPriceOfPolysilicon" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageSellingPriceOfPolysilicon_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AverageSellingPriceOfPolysilicon_1" xml:lang="en-US" id="label_dq_AverageSellingPriceOfPolysilicon_1">Average Selling Price Of Polysilicon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageSellingPriceOfPolysilicon" xlink:to="label_dq_AverageSellingPriceOfPolysilicon_1" xlink:title="Label : dq_AverageSellingPriceOfPolysilicon to label_dq_AverageSellingPriceOfPolysilicon_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageSellingPriceOfPolysilicon_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AverageSellingPriceOfPolysilicon_2" xml:lang="en-US" id="label_dq_AverageSellingPriceOfPolysilicon_2">Average selling price ("ASP") of polysilicon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageSellingPriceOfPolysilicon" xlink:to="label_dq_AverageSellingPriceOfPolysilicon_2" xlink:title="Label : dq_AverageSellingPriceOfPolysilicon to label_dq_AverageSellingPriceOfPolysilicon_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_WorkingCapital" xlink:label="dq_WorkingCapital" xlink:title="dq_WorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_dq_WorkingCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_WorkingCapital" xml:lang="en-US" id="label_dq_WorkingCapital">Working Capital.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_WorkingCapital" xlink:to="label_dq_WorkingCapital" xlink:title="Label : dq_WorkingCapital to label_dq_WorkingCapital" />
    <link:label xlink:type="resource" xlink:label="label_dq_WorkingCapital_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_WorkingCapital_1" xml:lang="en-US" id="label_dq_WorkingCapital_1">Working Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_WorkingCapital" xlink:to="label_dq_WorkingCapital_1" xlink:title="Label : dq_WorkingCapital to label_dq_WorkingCapital_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_WorkingCapital_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_WorkingCapital_2" xml:lang="en-US" id="label_dq_WorkingCapital_2">Working capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_WorkingCapital" xlink:to="label_dq_WorkingCapital_2" xlink:title="Label : dq_WorkingCapital to label_dq_WorkingCapital_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AverageProductionCostOfPolysilicon" xlink:label="dq_AverageProductionCostOfPolysilicon" xlink:title="dq_AverageProductionCostOfPolysilicon" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageProductionCostOfPolysilicon" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AverageProductionCostOfPolysilicon" xml:lang="en-US" id="label_dq_AverageProductionCostOfPolysilicon">Average Production Cost Of Polysilicon.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageProductionCostOfPolysilicon" xlink:to="label_dq_AverageProductionCostOfPolysilicon" xlink:title="Label : dq_AverageProductionCostOfPolysilicon to label_dq_AverageProductionCostOfPolysilicon" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageProductionCostOfPolysilicon_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AverageProductionCostOfPolysilicon_1" xml:lang="en-US" id="label_dq_AverageProductionCostOfPolysilicon_1">Average Production Cost Of Polysilicon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageProductionCostOfPolysilicon" xlink:to="label_dq_AverageProductionCostOfPolysilicon_1" xlink:title="Label : dq_AverageProductionCostOfPolysilicon to label_dq_AverageProductionCostOfPolysilicon_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageProductionCostOfPolysilicon_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AverageProductionCostOfPolysilicon_2" xml:lang="en-US" id="label_dq_AverageProductionCostOfPolysilicon_2">Average production cost of polysilicon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageProductionCostOfPolysilicon" xlink:to="label_dq_AverageProductionCostOfPolysilicon_2" xlink:title="Label : dq_AverageProductionCostOfPolysilicon to label_dq_AverageProductionCostOfPolysilicon_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_IncreaseDecreaseInAdvancePayments" xlink:label="dq_IncreaseDecreaseInAdvancePayments" xlink:title="dq_IncreaseDecreaseInAdvancePayments" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInAdvancePayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_IncreaseDecreaseInAdvancePayments" xml:lang="en-US" id="label_dq_IncreaseDecreaseInAdvancePayments">Increase (Decrease) in Advance Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInAdvancePayments" xlink:to="label_dq_IncreaseDecreaseInAdvancePayments" xlink:title="Label : dq_IncreaseDecreaseInAdvancePayments to label_dq_IncreaseDecreaseInAdvancePayments" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInAdvancePayments_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_IncreaseDecreaseInAdvancePayments_1" xml:lang="en-US" id="label_dq_IncreaseDecreaseInAdvancePayments_1">Increase Decrease In Advance Payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInAdvancePayments" xlink:to="label_dq_IncreaseDecreaseInAdvancePayments_1" xlink:title="Label : dq_IncreaseDecreaseInAdvancePayments to label_dq_IncreaseDecreaseInAdvancePayments_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInAdvancePayments_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_dq_IncreaseDecreaseInAdvancePayments_2" xml:lang="en-US" id="label_dq_IncreaseDecreaseInAdvancePayments_2">Advances to suppliers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInAdvancePayments" xlink:to="label_dq_IncreaseDecreaseInAdvancePayments_2" xlink:title="Label : dq_IncreaseDecreaseInAdvancePayments to label_dq_IncreaseDecreaseInAdvancePayments_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:label="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:title="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xml:lang="en-US" id="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent">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:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:to="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:title="Label : dq_IncreaseDecreaseInPrepaidExpensesNoncurrent to label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_1" xml:lang="en-US" id="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_1">Increase Decrease In Prepaid Expenses Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:to="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_1" xlink:title="Label : dq_IncreaseDecreaseInPrepaidExpensesNoncurrent to label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_2" xml:lang="en-US" id="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_2">Prepaid land use rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInPrepaidExpensesNoncurrent" xlink:to="label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_2" xlink:title="Label : dq_IncreaseDecreaseInPrepaidExpensesNoncurrent to label_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:label="dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:title="dq_IncreaseDecreaseInAccruedWarrantyExpense" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_IncreaseDecreaseInAccruedWarrantyExpense" xml:lang="en-US" id="label_dq_IncreaseDecreaseInAccruedWarrantyExpense">Increase Decrease In Accrued Warranty Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:to="label_dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:title="Label : dq_IncreaseDecreaseInAccruedWarrantyExpense to label_dq_IncreaseDecreaseInAccruedWarrantyExpense" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_1" xml:lang="en-US" id="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_1">Increase Decrease In Accrued Warranty Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:to="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_1" xlink:title="Label : dq_IncreaseDecreaseInAccruedWarrantyExpense to label_dq_IncreaseDecreaseInAccruedWarrantyExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_2" xml:lang="en-US" id="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_2">Accrued warranty cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInAccruedWarrantyExpense" xlink:to="label_dq_IncreaseDecreaseInAccruedWarrantyExpense_2" xlink:title="Label : dq_IncreaseDecreaseInAccruedWarrantyExpense to label_dq_IncreaseDecreaseInAccruedWarrantyExpense_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:label="dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:title="dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xml:lang="en-US" id="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived">Supplemental Cash Flow Information, Divestitures, Consideration Received.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:to="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:title="Label : dq_SupplementalCashFlowInformationDivestituresConsiderationReceived to label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_1" xml:lang="en-US" id="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_1">Supplemental Cash Flow Information Divestitures Consideration Received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:to="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_1" xlink:title="Label : dq_SupplementalCashFlowInformationDivestituresConsiderationReceived to label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_2" xml:lang="en-US" id="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_2">Total consideration</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalCashFlowInformationDivestituresConsiderationReceived" xlink:to="label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_2" xlink:title="Label : dq_SupplementalCashFlowInformationDivestituresConsiderationReceived to label_dq_SupplementalCashFlowInformationDivestituresConsiderationReceived_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_SupplementalNonCashInvestingActivities" xlink:label="dq_SupplementalNonCashInvestingActivities" xlink:title="dq_SupplementalNonCashInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalNonCashInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_SupplementalNonCashInvestingActivities" xml:lang="en-US" id="label_dq_SupplementalNonCashInvestingActivities">Supplemental Non Cash Investing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalNonCashInvestingActivities" xlink:to="label_dq_SupplementalNonCashInvestingActivities" xlink:title="Label : dq_SupplementalNonCashInvestingActivities to label_dq_SupplementalNonCashInvestingActivities" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalNonCashInvestingActivities_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_SupplementalNonCashInvestingActivities_1" xml:lang="en-US" id="label_dq_SupplementalNonCashInvestingActivities_1">Supplemental Non Cash Investing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalNonCashInvestingActivities" xlink:to="label_dq_SupplementalNonCashInvestingActivities_1" xlink:title="Label : dq_SupplementalNonCashInvestingActivities to label_dq_SupplementalNonCashInvestingActivities_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalNonCashInvestingActivities_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_SupplementalNonCashInvestingActivities_2" xml:lang="en-US" id="label_dq_SupplementalNonCashInvestingActivities_2">Balance netting-off agreements with different subsidiaries of Daqo Group</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalNonCashInvestingActivities" xlink:to="label_dq_SupplementalNonCashInvestingActivities_2" xlink:title="Label : dq_SupplementalNonCashInvestingActivities to label_dq_SupplementalNonCashInvestingActivities_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:title="dei_AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="label_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_AmendmentFlag" xml:lang="en-US" id="label_dei_AmendmentFlag">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="label_dei_AmendmentFlag" xlink:title="Label : dei_AmendmentFlag to label_dei_AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="label_dei_AmendmentFlag_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_AmendmentFlag_1" xml:lang="en-US" id="label_dei_AmendmentFlag_1">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="label_dei_AmendmentFlag_1" xlink:title="Label : dei_AmendmentFlag to label_dei_AmendmentFlag_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NanjingDaqoMember" xlink:label="dq_NanjingDaqoMember" xlink:title="dq_NanjingDaqoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingDaqoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NanjingDaqoMember" xml:lang="en-US" id="label_dq_NanjingDaqoMember">Nanjing Daqo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingDaqoMember" xlink:to="label_dq_NanjingDaqoMember" xlink:title="Label : dq_NanjingDaqoMember to label_dq_NanjingDaqoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingDaqoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NanjingDaqoMember_1" xml:lang="en-US" id="label_dq_NanjingDaqoMember_1">Nanjing Daqo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingDaqoMember" xlink:to="label_dq_NanjingDaqoMember_1" xlink:title="Label : dq_NanjingDaqoMember to label_dq_NanjingDaqoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingDaqoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_NanjingDaqoMember_2" xml:lang="en-US" id="label_dq_NanjingDaqoMember_2">Nanjing Daqo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingDaqoMember" xlink:to="label_dq_NanjingDaqoMember_2" xlink:title="Label : dq_NanjingDaqoMember to label_dq_NanjingDaqoMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_SubsidiesPayableCurrent" xlink:label="dq_SubsidiesPayableCurrent" xlink:title="dq_SubsidiesPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_dq_SubsidiesPayableCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_SubsidiesPayableCurrent" xml:lang="en-US" id="label_dq_SubsidiesPayableCurrent">Subsidies Payable Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SubsidiesPayableCurrent" xlink:to="label_dq_SubsidiesPayableCurrent" xlink:title="Label : dq_SubsidiesPayableCurrent to label_dq_SubsidiesPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_dq_SubsidiesPayableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_SubsidiesPayableCurrent_1" xml:lang="en-US" id="label_dq_SubsidiesPayableCurrent_1">Subsidies Payable Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SubsidiesPayableCurrent" xlink:to="label_dq_SubsidiesPayableCurrent_1" xlink:title="Label : dq_SubsidiesPayableCurrent to label_dq_SubsidiesPayableCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_SubsidiesPayableCurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_SubsidiesPayableCurrent_2" xml:lang="en-US" id="label_dq_SubsidiesPayableCurrent_2">Government subsidy</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SubsidiesPayableCurrent" xlink:to="label_dq_SubsidiesPayableCurrent_2" xlink:title="Label : dq_SubsidiesPayableCurrent to label_dq_SubsidiesPayableCurrent_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AccountingPoliciesLineItems" xlink:label="dq_AccountingPoliciesLineItems" xlink:title="dq_AccountingPoliciesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccountingPoliciesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AccountingPoliciesLineItems" xml:lang="en-US" id="label_dq_AccountingPoliciesLineItems">AccountingPoliciesLineItems</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccountingPoliciesLineItems" xlink:to="label_dq_AccountingPoliciesLineItems" xlink:title="Label : dq_AccountingPoliciesLineItems to label_dq_AccountingPoliciesLineItems" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccountingPoliciesLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AccountingPoliciesLineItems_1" xml:lang="en-US" id="label_dq_AccountingPoliciesLineItems_1">Accounting Policies [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccountingPoliciesLineItems" xlink:to="label_dq_AccountingPoliciesLineItems_1" xlink:title="Label : dq_AccountingPoliciesLineItems to label_dq_AccountingPoliciesLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AccountingPoliciesTable" xlink:label="dq_AccountingPoliciesTable" xlink:title="dq_AccountingPoliciesTable" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccountingPoliciesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AccountingPoliciesTable" xml:lang="en-US" id="label_dq_AccountingPoliciesTable">Accounting Policies Table</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccountingPoliciesTable" xlink:to="label_dq_AccountingPoliciesTable" xlink:title="Label : dq_AccountingPoliciesTable to label_dq_AccountingPoliciesTable" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccountingPoliciesTable_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AccountingPoliciesTable_1" xml:lang="en-US" id="label_dq_AccountingPoliciesTable_1">Accounting Policies [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccountingPoliciesTable" xlink:to="label_dq_AccountingPoliciesTable_1" xlink:title="Label : dq_AccountingPoliciesTable to label_dq_AccountingPoliciesTable_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:label="dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:title="dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" />
    <link:label xlink:type="resource" xlink:label="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xml:lang="en-US" id="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect">Allowance For Doubtful Accounts Receivable, Foreign Exchange Effect.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:to="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:title="Label : dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect to label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" />
    <link:label xlink:type="resource" xlink:label="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_1" xml:lang="en-US" id="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_1">Allowance For Doubtful Accounts Receivable Foreign Exchange Effect</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:to="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_1" xlink:title="Label : dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect to label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_2" xml:lang="en-US" id="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_2">Foreign exchange effect</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect" xlink:to="label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_2" xlink:title="Label : dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect to label_dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BankOfChinaMember" xlink:label="dq_BankOfChinaMember" xlink:title="dq_BankOfChinaMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BankOfChinaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BankOfChinaMember" xml:lang="en-US" id="label_dq_BankOfChinaMember">Bank of China [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BankOfChinaMember" xlink:to="label_dq_BankOfChinaMember" xlink:title="Label : dq_BankOfChinaMember to label_dq_BankOfChinaMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BankOfChinaMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BankOfChinaMember_1" xml:lang="en-US" id="label_dq_BankOfChinaMember_1">Bank of China [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BankOfChinaMember" xlink:to="label_dq_BankOfChinaMember_1" xlink:title="Label : dq_BankOfChinaMember to label_dq_BankOfChinaMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BinomialOptionPricingModelExerciseMultiple" xlink:label="dq_BinomialOptionPricingModelExerciseMultiple" xlink:title="dq_BinomialOptionPricingModelExerciseMultiple" />
    <link:label xlink:type="resource" xlink:label="label_dq_BinomialOptionPricingModelExerciseMultiple" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BinomialOptionPricingModelExerciseMultiple" xml:lang="en-US" id="label_dq_BinomialOptionPricingModelExerciseMultiple">Binomial Option Pricing Model, Exercise Multiple.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BinomialOptionPricingModelExerciseMultiple" xlink:to="label_dq_BinomialOptionPricingModelExerciseMultiple" xlink:title="Label : dq_BinomialOptionPricingModelExerciseMultiple to label_dq_BinomialOptionPricingModelExerciseMultiple" />
    <link:label xlink:type="resource" xlink:label="label_dq_BinomialOptionPricingModelExerciseMultiple_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BinomialOptionPricingModelExerciseMultiple_1" xml:lang="en-US" id="label_dq_BinomialOptionPricingModelExerciseMultiple_1">Binomial Option Pricing Model Exercise Multiple</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BinomialOptionPricingModelExerciseMultiple" xlink:to="label_dq_BinomialOptionPricingModelExerciseMultiple_1" xlink:title="Label : dq_BinomialOptionPricingModelExerciseMultiple to label_dq_BinomialOptionPricingModelExerciseMultiple_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_BinomialOptionPricingModelExerciseMultiple_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_BinomialOptionPricingModelExerciseMultiple_2" xml:lang="en-US" id="label_dq_BinomialOptionPricingModelExerciseMultiple_2">Exercise multiple</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BinomialOptionPricingModelExerciseMultiple" xlink:to="label_dq_BinomialOptionPricingModelExerciseMultiple_2" xlink:title="Label : dq_BinomialOptionPricingModelExerciseMultiple to label_dq_BinomialOptionPricingModelExerciseMultiple_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:label="dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:title="dq_BinomialOptionPricingModelPostVestingForfeitureRate" />
    <link:label xlink:type="resource" xlink:label="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate" xml:lang="en-US" id="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate">Binomial Option Pricing Model Post Vesting Forfeiture Rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:to="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:title="Label : dq_BinomialOptionPricingModelPostVestingForfeitureRate to label_dq_BinomialOptionPricingModelPostVestingForfeitureRate" />
    <link:label xlink:type="resource" xlink:label="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_1" xml:lang="en-US" id="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_1">Binomial Option Pricing Model Post Vesting Forfeiture Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:to="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_1" xlink:title="Label : dq_BinomialOptionPricingModelPostVestingForfeitureRate to label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_2" xml:lang="en-US" id="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_2">Post-vesting forfeiture rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BinomialOptionPricingModelPostVestingForfeitureRate" xlink:to="label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_2" xlink:title="Label : dq_BinomialOptionPricingModelPostVestingForfeitureRate to label_dq_BinomialOptionPricingModelPostVestingForfeitureRate_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CapitalContributedToSubsidiaries" xlink:label="dq_CapitalContributedToSubsidiaries" xlink:title="dq_CapitalContributedToSubsidiaries" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalContributedToSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CapitalContributedToSubsidiaries" xml:lang="en-US" id="label_dq_CapitalContributedToSubsidiaries">Capital Contributed To Subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalContributedToSubsidiaries" xlink:to="label_dq_CapitalContributedToSubsidiaries" xlink:title="Label : dq_CapitalContributedToSubsidiaries to label_dq_CapitalContributedToSubsidiaries" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalContributedToSubsidiaries_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CapitalContributedToSubsidiaries_1" xml:lang="en-US" id="label_dq_CapitalContributedToSubsidiaries_1">Capital Contributed To Subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalContributedToSubsidiaries" xlink:to="label_dq_CapitalContributedToSubsidiaries_1" xlink:title="Label : dq_CapitalContributedToSubsidiaries to label_dq_CapitalContributedToSubsidiaries_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalContributedToSubsidiaries_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_dq_CapitalContributedToSubsidiaries_2" xml:lang="en-US" id="label_dq_CapitalContributedToSubsidiaries_2">Capital contributed to subsidiaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalContributedToSubsidiaries" xlink:to="label_dq_CapitalContributedToSubsidiaries_2" xlink:title="Label : dq_CapitalContributedToSubsidiaries to label_dq_CapitalContributedToSubsidiaries_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CapitalConversionMember" xlink:label="dq_CapitalConversionMember" xlink:title="dq_CapitalConversionMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalConversionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CapitalConversionMember" xml:lang="en-US" id="label_dq_CapitalConversionMember">Capital Conversion [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalConversionMember" xlink:to="label_dq_CapitalConversionMember" xlink:title="Label : dq_CapitalConversionMember to label_dq_CapitalConversionMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalConversionMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CapitalConversionMember_1" xml:lang="en-US" id="label_dq_CapitalConversionMember_1">Capital Conversion [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalConversionMember" xlink:to="label_dq_CapitalConversionMember_1" xlink:title="Label : dq_CapitalConversionMember to label_dq_CapitalConversionMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CapitalLeasesMonthlyPayment" xlink:label="dq_CapitalLeasesMonthlyPayment" xlink:title="dq_CapitalLeasesMonthlyPayment" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalLeasesMonthlyPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CapitalLeasesMonthlyPayment" xml:lang="en-US" id="label_dq_CapitalLeasesMonthlyPayment">Capital Leases, Monthly Payment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalLeasesMonthlyPayment" xlink:to="label_dq_CapitalLeasesMonthlyPayment" xlink:title="Label : dq_CapitalLeasesMonthlyPayment to label_dq_CapitalLeasesMonthlyPayment" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalLeasesMonthlyPayment_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CapitalLeasesMonthlyPayment_1" xml:lang="en-US" id="label_dq_CapitalLeasesMonthlyPayment_1">Capital Leases Monthly Payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalLeasesMonthlyPayment" xlink:to="label_dq_CapitalLeasesMonthlyPayment_1" xlink:title="Label : dq_CapitalLeasesMonthlyPayment to label_dq_CapitalLeasesMonthlyPayment_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CapitalLeasesMonthlyPayment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CapitalLeasesMonthlyPayment_2" xml:lang="en-US" id="label_dq_CapitalLeasesMonthlyPayment_2">Monthly lease payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CapitalLeasesMonthlyPayment" xlink:to="label_dq_CapitalLeasesMonthlyPayment_2" xlink:title="Label : dq_CapitalLeasesMonthlyPayment to label_dq_CapitalLeasesMonthlyPayment_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CashPaymentsForTransactionsMember" xlink:label="dq_CashPaymentsForTransactionsMember" xlink:title="dq_CashPaymentsForTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CashPaymentsForTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CashPaymentsForTransactionsMember" xml:lang="en-US" id="label_dq_CashPaymentsForTransactionsMember">Cash Payments for Transactions [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CashPaymentsForTransactionsMember" xlink:to="label_dq_CashPaymentsForTransactionsMember" xlink:title="Label : dq_CashPaymentsForTransactionsMember to label_dq_CashPaymentsForTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CashPaymentsForTransactionsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CashPaymentsForTransactionsMember_1" xml:lang="en-US" id="label_dq_CashPaymentsForTransactionsMember_1">Cash Payments for Transactions [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CashPaymentsForTransactionsMember" xlink:to="label_dq_CashPaymentsForTransactionsMember_1" xlink:title="Label : dq_CashPaymentsForTransactionsMember to label_dq_CashPaymentsForTransactionsMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CashProceedsFromTransactionsMember" xlink:label="dq_CashProceedsFromTransactionsMember" xlink:title="dq_CashProceedsFromTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CashProceedsFromTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CashProceedsFromTransactionsMember" xml:lang="en-US" id="label_dq_CashProceedsFromTransactionsMember">Cash Proceeds from Transactions [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CashProceedsFromTransactionsMember" xlink:to="label_dq_CashProceedsFromTransactionsMember" xlink:title="Label : dq_CashProceedsFromTransactionsMember to label_dq_CashProceedsFromTransactionsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CashProceedsFromTransactionsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CashProceedsFromTransactionsMember_1" xml:lang="en-US" id="label_dq_CashProceedsFromTransactionsMember_1">Cash Proceeds from Transactions [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CashProceedsFromTransactionsMember" xlink:to="label_dq_CashProceedsFromTransactionsMember_1" xlink:title="Label : dq_CashProceedsFromTransactionsMember to label_dq_CashProceedsFromTransactionsMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ChinaConstructionBankMember" xlink:label="dq_ChinaConstructionBankMember" xlink:title="dq_ChinaConstructionBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChinaConstructionBankMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ChinaConstructionBankMember" xml:lang="en-US" id="label_dq_ChinaConstructionBankMember">China Construction Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChinaConstructionBankMember" xlink:to="label_dq_ChinaConstructionBankMember" xlink:title="Label : dq_ChinaConstructionBankMember to label_dq_ChinaConstructionBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChinaConstructionBankMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ChinaConstructionBankMember_1" xml:lang="en-US" id="label_dq_ChinaConstructionBankMember_1">China Construction Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChinaConstructionBankMember" xlink:to="label_dq_ChinaConstructionBankMember_1" xlink:title="Label : dq_ChinaConstructionBankMember to label_dq_ChinaConstructionBankMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ChongqingDaqoNewEnergyCoLtdMember" xlink:label="dq_ChongqingDaqoNewEnergyCoLtdMember" xlink:title="dq_ChongqingDaqoNewEnergyCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChongqingDaqoNewEnergyCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ChongqingDaqoNewEnergyCoLtdMember" xml:lang="en-US" id="label_dq_ChongqingDaqoNewEnergyCoLtdMember">Chongqing Daqo New Energy Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChongqingDaqoNewEnergyCoLtdMember" xlink:to="label_dq_ChongqingDaqoNewEnergyCoLtdMember" xlink:title="Label : dq_ChongqingDaqoNewEnergyCoLtdMember to label_dq_ChongqingDaqoNewEnergyCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChongqingDaqoNewEnergyCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ChongqingDaqoNewEnergyCoLtdMember_1" xml:lang="en-US" id="label_dq_ChongqingDaqoNewEnergyCoLtdMember_1">Chongqing Daqo New Energy Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChongqingDaqoNewEnergyCoLtdMember" xlink:to="label_dq_ChongqingDaqoNewEnergyCoLtdMember_1" xlink:title="Label : dq_ChongqingDaqoNewEnergyCoLtdMember to label_dq_ChongqingDaqoNewEnergyCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ChongqingRuralCommercialBankMember" xlink:label="dq_ChongqingRuralCommercialBankMember" xlink:title="dq_ChongqingRuralCommercialBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChongqingRuralCommercialBankMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ChongqingRuralCommercialBankMember" xml:lang="en-US" id="label_dq_ChongqingRuralCommercialBankMember">Chongqing Rural Commercial Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChongqingRuralCommercialBankMember" xlink:to="label_dq_ChongqingRuralCommercialBankMember" xlink:title="Label : dq_ChongqingRuralCommercialBankMember to label_dq_ChongqingRuralCommercialBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChongqingRuralCommercialBankMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ChongqingRuralCommercialBankMember_1" xml:lang="en-US" id="label_dq_ChongqingRuralCommercialBankMember_1">Chongqing Rural Commercial Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChongqingRuralCommercialBankMember" xlink:to="label_dq_ChongqingRuralCommercialBankMember_1" xlink:title="Label : dq_ChongqingRuralCommercialBankMember to label_dq_ChongqingRuralCommercialBankMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:title="dei_CurrentFiscalYearEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_CurrentFiscalYearEndDate" xml:lang="en-US" id="label_dei_CurrentFiscalYearEndDate">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="label_dei_CurrentFiscalYearEndDate" xlink:title="Label : dei_CurrentFiscalYearEndDate to label_dei_CurrentFiscalYearEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_CurrentFiscalYearEndDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_CurrentFiscalYearEndDate_1" xml:lang="en-US" id="label_dei_CurrentFiscalYearEndDate_1">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="label_dei_CurrentFiscalYearEndDate_1" xlink:title="Label : dei_CurrentFiscalYearEndDate to label_dei_CurrentFiscalYearEndDate_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CommonStockOutstandingMember" xlink:label="dq_CommonStockOutstandingMember" xlink:title="dq_CommonStockOutstandingMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CommonStockOutstandingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CommonStockOutstandingMember" xml:lang="en-US" id="label_dq_CommonStockOutstandingMember">Common Stock Outstanding [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CommonStockOutstandingMember" xlink:to="label_dq_CommonStockOutstandingMember" xlink:title="Label : dq_CommonStockOutstandingMember to label_dq_CommonStockOutstandingMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CommonStockOutstandingMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CommonStockOutstandingMember_1" xml:lang="en-US" id="label_dq_CommonStockOutstandingMember_1">Common Stock Outstanding [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CommonStockOutstandingMember" xlink:to="label_dq_CommonStockOutstandingMember_1" xlink:title="Label : dq_CommonStockOutstandingMember to label_dq_CommonStockOutstandingMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CommonStockOutstandingMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CommonStockOutstandingMember_2" xml:lang="en-US" id="label_dq_CommonStockOutstandingMember_2">Ordinary shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CommonStockOutstandingMember" xlink:to="label_dq_CommonStockOutstandingMember_2" xlink:title="Label : dq_CommonStockOutstandingMember to label_dq_CommonStockOutstandingMember_2" />
    <link:label xlink:type="resource" xlink:label="label_dq_CommonStockOutstandingMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_dq_CommonStockOutstandingMember_3" xml:lang="en-US" id="label_dq_CommonStockOutstandingMember_3">Ordinary shares [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CommonStockOutstandingMember" xlink:to="label_dq_CommonStockOutstandingMember_3" xlink:title="Label : dq_CommonStockOutstandingMember to label_dq_CommonStockOutstandingMember_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:title="dei_DocumentInformationLineItems" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentInformationLineItems" xml:lang="en-US" id="label_dei_DocumentInformationLineItems">Document Information [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="label_dei_DocumentInformationLineItems" xlink:title="Label : dei_DocumentInformationLineItems to label_dei_DocumentInformationLineItems" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentInformationLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_DocumentInformationLineItems_1" xml:lang="en-US" id="label_dei_DocumentInformationLineItems_1">Document Information [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="label_dei_DocumentInformationLineItems_1" xlink:title="Label : dei_DocumentInformationLineItems to label_dei_DocumentInformationLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerHMember" xlink:label="dq_CustomerHMember" xlink:title="dq_CustomerHMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerHMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerHMember" xml:lang="en-US" id="label_dq_CustomerHMember">Customer H Member</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerHMember" xlink:to="label_dq_CustomerHMember" xlink:title="Label : dq_CustomerHMember to label_dq_CustomerHMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerHMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerHMember_1" xml:lang="en-US" id="label_dq_CustomerHMember_1">Customer H [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerHMember" xlink:to="label_dq_CustomerHMember_1" xlink:title="Label : dq_CustomerHMember to label_dq_CustomerHMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerIMember" xlink:label="dq_CustomerIMember" xlink:title="dq_CustomerIMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerIMember" xml:lang="en-US" id="label_dq_CustomerIMember">Customer I Member</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerIMember" xlink:to="label_dq_CustomerIMember" xlink:title="Label : dq_CustomerIMember to label_dq_CustomerIMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerIMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerIMember_1" xml:lang="en-US" id="label_dq_CustomerIMember_1">Customer I [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerIMember" xlink:to="label_dq_CustomerIMember_1" xlink:title="Label : dq_CustomerIMember to label_dq_CustomerIMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:title="dei_DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentPeriodEndDate" xml:lang="en-US" id="label_dei_DocumentPeriodEndDate">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="label_dei_DocumentPeriodEndDate" xlink:title="Label : dei_DocumentPeriodEndDate to label_dei_DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentPeriodEndDate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_DocumentPeriodEndDate_1" xml:lang="en-US" id="label_dei_DocumentPeriodEndDate_1">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="label_dei_DocumentPeriodEndDate_1" xlink:title="Label : dei_DocumentPeriodEndDate to label_dei_DocumentPeriodEndDate_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntitiesTable" xlink:label="dei_EntitiesTable" xlink:title="dei_EntitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntitiesTable" xml:lang="en-US" id="label_dei_EntitiesTable">Entities [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitiesTable" xlink:to="label_dei_EntitiesTable" xlink:title="Label : dei_EntitiesTable to label_dei_EntitiesTable" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntitiesTable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntitiesTable_1" xml:lang="en-US" id="label_dei_EntitiesTable_1">Entities [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitiesTable" xlink:to="label_dei_EntitiesTable_1" xlink:title="Label : dei_EntitiesTable to label_dei_EntitiesTable_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DaqoGroupMember" xlink:label="dq_DaqoGroupMember" xlink:title="dq_DaqoGroupMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DaqoGroupMember" xml:lang="en-US" id="label_dq_DaqoGroupMember">Daqo Group [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoGroupMember" xlink:to="label_dq_DaqoGroupMember" xlink:title="Label : dq_DaqoGroupMember to label_dq_DaqoGroupMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoGroupMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_DaqoGroupMember_1" xml:lang="en-US" id="label_dq_DaqoGroupMember_1">Daqo Group [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoGroupMember" xlink:to="label_dq_DaqoGroupMember_1" xlink:title="Label : dq_DaqoGroupMember to label_dq_DaqoGroupMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DaqoNewMaterialCoLtdMember" xlink:label="dq_DaqoNewMaterialCoLtdMember" xlink:title="dq_DaqoNewMaterialCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoNewMaterialCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DaqoNewMaterialCoLtdMember" xml:lang="en-US" id="label_dq_DaqoNewMaterialCoLtdMember">Daqo New Material Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoNewMaterialCoLtdMember" xlink:to="label_dq_DaqoNewMaterialCoLtdMember" xlink:title="Label : dq_DaqoNewMaterialCoLtdMember to label_dq_DaqoNewMaterialCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoNewMaterialCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DaqoNewMaterialCoLtdMember_1" xml:lang="en-US" id="label_dq_DaqoNewMaterialCoLtdMember_1">Daqo New Material Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoNewMaterialCoLtdMember" xlink:to="label_dq_DaqoNewMaterialCoLtdMember_1" xlink:title="Label : dq_DaqoNewMaterialCoLtdMember to label_dq_DaqoNewMaterialCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardDateAxis" xlink:label="us-gaap_AwardDateAxis" xlink:title="us-gaap_AwardDateAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AwardDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AwardDateAxis" xml:lang="en-US" id="label_us-gaap_AwardDateAxis">Award Date [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardDateAxis" xlink:to="label_us-gaap_AwardDateAxis" xlink:title="Label : us-gaap_AwardDateAxis to label_us-gaap_AwardDateAxis" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DaqoNewMaterialMember" xlink:label="dq_DaqoNewMaterialMember" xlink:title="dq_DaqoNewMaterialMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoNewMaterialMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DaqoNewMaterialMember" xml:lang="en-US" id="label_dq_DaqoNewMaterialMember">Daqo New Material [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoNewMaterialMember" xlink:to="label_dq_DaqoNewMaterialMember" xlink:title="Label : dq_DaqoNewMaterialMember to label_dq_DaqoNewMaterialMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoNewMaterialMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DaqoNewMaterialMember_1" xml:lang="en-US" id="label_dq_DaqoNewMaterialMember_1">Daqo New Material [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoNewMaterialMember" xlink:to="label_dq_DaqoNewMaterialMember_1" xlink:title="Label : dq_DaqoNewMaterialMember to label_dq_DaqoNewMaterialMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xlink:title="us-gaap_AwardTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AwardTypeAxis" xml:lang="en-US" id="label_us-gaap_AwardTypeAxis">Award Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="label_us-gaap_AwardTypeAxis" xlink:title="Label : us-gaap_AwardTypeAxis to label_us-gaap_AwardTypeAxis" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DaqoSolarCoLtdMember" xlink:label="dq_DaqoSolarCoLtdMember" xlink:title="dq_DaqoSolarCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoSolarCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DaqoSolarCoLtdMember" xml:lang="en-US" id="label_dq_DaqoSolarCoLtdMember">Daqo Solar Co Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoSolarCoLtdMember" xlink:to="label_dq_DaqoSolarCoLtdMember" xlink:title="Label : dq_DaqoSolarCoLtdMember to label_dq_DaqoSolarCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoSolarCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DaqoSolarCoLtdMember_1" xml:lang="en-US" id="label_dq_DaqoSolarCoLtdMember_1">Daqo Solar Co Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoSolarCoLtdMember" xlink:to="label_dq_DaqoSolarCoLtdMember_1" xlink:title="Label : dq_DaqoSolarCoLtdMember to label_dq_DaqoSolarCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardDateDomain" xlink:label="us-gaap_AwardDateDomain" xlink:title="us-gaap_AwardDateDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AwardDateDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AwardDateDomain" xml:lang="en-US" id="label_us-gaap_AwardDateDomain">Award Date [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardDateDomain" xlink:to="label_us-gaap_AwardDateDomain" xlink:title="Label : us-gaap_AwardDateDomain to label_us-gaap_AwardDateDomain" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DaqoXinjiangInvestmentCoLtdMember" xlink:label="dq_DaqoXinjiangInvestmentCoLtdMember" xlink:title="dq_DaqoXinjiangInvestmentCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoXinjiangInvestmentCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DaqoXinjiangInvestmentCoLtdMember" xml:lang="en-US" id="label_dq_DaqoXinjiangInvestmentCoLtdMember">Daqo Xinjiang Investment Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoXinjiangInvestmentCoLtdMember" xlink:to="label_dq_DaqoXinjiangInvestmentCoLtdMember" xlink:title="Label : dq_DaqoXinjiangInvestmentCoLtdMember to label_dq_DaqoXinjiangInvestmentCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoXinjiangInvestmentCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DaqoXinjiangInvestmentCoLtdMember_1" xml:lang="en-US" id="label_dq_DaqoXinjiangInvestmentCoLtdMember_1">Daqo Xinjiang Investment Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoXinjiangInvestmentCoLtdMember" xlink:to="label_dq_DaqoXinjiangInvestmentCoLtdMember_1" xlink:title="Label : dq_DaqoXinjiangInvestmentCoLtdMember to label_dq_DaqoXinjiangInvestmentCoLtdMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoXinjiangInvestmentCoLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_DaqoXinjiangInvestmentCoLtdMember_2" xml:lang="en-US" id="label_dq_DaqoXinjiangInvestmentCoLtdMember_2">Xinjiang Daqo Investment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoXinjiangInvestmentCoLtdMember" xlink:to="label_dq_DaqoXinjiangInvestmentCoLtdMember_2" xlink:title="Label : dq_DaqoXinjiangInvestmentCoLtdMember to label_dq_DaqoXinjiangInvestmentCoLtdMember_2" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoXinjiangInvestmentCoLtdMember_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_dq_DaqoXinjiangInvestmentCoLtdMember_3" xml:lang="en-US" id="label_dq_DaqoXinjiangInvestmentCoLtdMember_3" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoXinjiangInvestmentCoLtdMember" xlink:to="label_dq_DaqoXinjiangInvestmentCoLtdMember_3" xlink:title="Label : dq_DaqoXinjiangInvestmentCoLtdMember to label_dq_DaqoXinjiangInvestmentCoLtdMember_3" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:label="dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:title="dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xml:lang="en-US" id="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember">Debt Guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xiang Xu [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:to="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:title="Label : dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember to label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember_1" xml:lang="en-US" id="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember_1">Debt Guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xinag Xu [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember" xlink:to="label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember_1" xlink:title="Label : dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember to label_dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:label="dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:title="dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xml:lang="en-US" id="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember">Debt Guaranteed by Daqo Group and Third Party [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:to="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:title="Label : dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember to label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_1" xml:lang="en-US" id="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_1">Debt Guaranteed by Daqo Group and Third Party [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:to="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_1" xlink:title="Label : dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember to label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_2" xml:lang="en-US" id="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_2">Short-term borrowing guaranteed by Daqo Group and a third party [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember" xlink:to="label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_2" xlink:title="Label : dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember to label_dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:title="dei_EntityDomain" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityDomain" xml:lang="en-US" id="label_dei_EntityDomain">Entity [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="label_dei_EntityDomain" xlink:title="Label : dei_EntityDomain to label_dei_EntityDomain" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntityDomain_1" xml:lang="en-US" id="label_dei_EntityDomain_1">Entity [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="label_dei_EntityDomain_1" xlink:title="Label : dei_EntityDomain to label_dei_EntityDomain_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DispositionOfSubsidiaryMember" xlink:label="dq_DispositionOfSubsidiaryMember" xlink:title="dq_DispositionOfSubsidiaryMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DispositionOfSubsidiaryMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DispositionOfSubsidiaryMember" xml:lang="en-US" id="label_dq_DispositionOfSubsidiaryMember">Disposition of Subsidiary [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DispositionOfSubsidiaryMember" xlink:to="label_dq_DispositionOfSubsidiaryMember" xlink:title="Label : dq_DispositionOfSubsidiaryMember to label_dq_DispositionOfSubsidiaryMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DispositionOfSubsidiaryMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DispositionOfSubsidiaryMember_1" xml:lang="en-US" id="label_dq_DispositionOfSubsidiaryMember_1">Disposition of Subsidiary [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DispositionOfSubsidiaryMember" xlink:to="label_dq_DispositionOfSubsidiaryMember_1" xlink:title="Label : dq_DispositionOfSubsidiaryMember to label_dq_DispositionOfSubsidiaryMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DocumentDocumentandEntityInformationAbstract" xlink:label="dq_DocumentDocumentandEntityInformationAbstract" xlink:title="dq_DocumentDocumentandEntityInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_DocumentDocumentandEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DocumentDocumentandEntityInformationAbstract" xml:lang="en-US" id="label_dq_DocumentDocumentandEntityInformationAbstract">Document - Document and Entity Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DocumentDocumentandEntityInformationAbstract" xlink:to="label_dq_DocumentDocumentandEntityInformationAbstract" xlink:title="Label : dq_DocumentDocumentandEntityInformationAbstract to label_dq_DocumentDocumentandEntityInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_DocumentDocumentandEntityInformationAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DocumentDocumentandEntityInformationAbstract_1" xml:lang="en-US" id="label_dq_DocumentDocumentandEntityInformationAbstract_1">Document Documentand Entity Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DocumentDocumentandEntityInformationAbstract" xlink:to="label_dq_DocumentDocumentandEntityInformationAbstract_1" xlink:title="Label : dq_DocumentDocumentandEntityInformationAbstract to label_dq_DocumentDocumentandEntityInformationAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_FacilityOneMember" xlink:label="dq_FacilityOneMember" xlink:title="dq_FacilityOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_FacilityOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_FacilityOneMember" xml:lang="en-US" id="label_dq_FacilityOneMember">Facility One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_FacilityOneMember" xlink:to="label_dq_FacilityOneMember" xlink:title="Label : dq_FacilityOneMember to label_dq_FacilityOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_FacilityOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_FacilityOneMember_1" xml:lang="en-US" id="label_dq_FacilityOneMember_1">Facility One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_FacilityOneMember" xlink:to="label_dq_FacilityOneMember_1" xlink:title="Label : dq_FacilityOneMember to label_dq_FacilityOneMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_FacilityTwoMember" xlink:label="dq_FacilityTwoMember" xlink:title="dq_FacilityTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_FacilityTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_FacilityTwoMember" xml:lang="en-US" id="label_dq_FacilityTwoMember">Facility Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_FacilityTwoMember" xlink:to="label_dq_FacilityTwoMember" xlink:title="Label : dq_FacilityTwoMember to label_dq_FacilityTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_FacilityTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_FacilityTwoMember_1" xml:lang="en-US" id="label_dq_FacilityTwoMember_1">Facility Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_FacilityTwoMember" xlink:to="label_dq_FacilityTwoMember_1" xlink:title="Label : dq_FacilityTwoMember to label_dq_FacilityTwoMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_GovernmentGrantsAndSubsidiesAbstract" xlink:label="dq_GovernmentGrantsAndSubsidiesAbstract" xlink:title="dq_GovernmentGrantsAndSubsidiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_GovernmentGrantsAndSubsidiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_GovernmentGrantsAndSubsidiesAbstract" xml:lang="en-US" id="label_dq_GovernmentGrantsAndSubsidiesAbstract">Government Grants And Subsidies Abstract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GovernmentGrantsAndSubsidiesAbstract" xlink:to="label_dq_GovernmentGrantsAndSubsidiesAbstract" xlink:title="Label : dq_GovernmentGrantsAndSubsidiesAbstract to label_dq_GovernmentGrantsAndSubsidiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_GovernmentGrantsAndSubsidiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_GovernmentGrantsAndSubsidiesAbstract_1" xml:lang="en-US" id="label_dq_GovernmentGrantsAndSubsidiesAbstract_1">Government Grants And Subsidies Abstract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GovernmentGrantsAndSubsidiesAbstract" xlink:to="label_dq_GovernmentGrantsAndSubsidiesAbstract_1" xlink:title="Label : dq_GovernmentGrantsAndSubsidiesAbstract to label_dq_GovernmentGrantsAndSubsidiesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_GovernmentGrantsAndSubsidiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_GovernmentGrantsAndSubsidiesAbstract_2" xml:lang="en-US" id="label_dq_GovernmentGrantsAndSubsidiesAbstract_2">Government subsidies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GovernmentGrantsAndSubsidiesAbstract" xlink:to="label_dq_GovernmentGrantsAndSubsidiesAbstract_2" xlink:title="Label : dq_GovernmentGrantsAndSubsidiesAbstract to label_dq_GovernmentGrantsAndSubsidiesAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_GrantsRecognizedAsOffsetToDepreciation" xlink:label="dq_GrantsRecognizedAsOffsetToDepreciation" xlink:title="dq_GrantsRecognizedAsOffsetToDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_dq_GrantsRecognizedAsOffsetToDepreciation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_GrantsRecognizedAsOffsetToDepreciation" xml:lang="en-US" id="label_dq_GrantsRecognizedAsOffsetToDepreciation">Grants Recognized As Offset To Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GrantsRecognizedAsOffsetToDepreciation" xlink:to="label_dq_GrantsRecognizedAsOffsetToDepreciation" xlink:title="Label : dq_GrantsRecognizedAsOffsetToDepreciation to label_dq_GrantsRecognizedAsOffsetToDepreciation" />
    <link:label xlink:type="resource" xlink:label="label_dq_GrantsRecognizedAsOffsetToDepreciation_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_GrantsRecognizedAsOffsetToDepreciation_1" xml:lang="en-US" id="label_dq_GrantsRecognizedAsOffsetToDepreciation_1">Grants Recognized As Offset To Depreciation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GrantsRecognizedAsOffsetToDepreciation" xlink:to="label_dq_GrantsRecognizedAsOffsetToDepreciation_1" xlink:title="Label : dq_GrantsRecognizedAsOffsetToDepreciation to label_dq_GrantsRecognizedAsOffsetToDepreciation_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_GrantsRecognizedAsOffsetToDepreciation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_GrantsRecognizedAsOffsetToDepreciation_2" xml:lang="en-US" id="label_dq_GrantsRecognizedAsOffsetToDepreciation_2">Government grants recognized as an offset to depreciation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GrantsRecognizedAsOffsetToDepreciation" xlink:to="label_dq_GrantsRecognizedAsOffsetToDepreciation_2" xlink:title="Label : dq_GrantsRecognizedAsOffsetToDepreciation to label_dq_GrantsRecognizedAsOffsetToDepreciation_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_GrantsRelatedToAssetsReceived" xlink:label="dq_GrantsRelatedToAssetsReceived" xlink:title="dq_GrantsRelatedToAssetsReceived" />
    <link:label xlink:type="resource" xlink:label="label_dq_GrantsRelatedToAssetsReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_GrantsRelatedToAssetsReceived" xml:lang="en-US" id="label_dq_GrantsRelatedToAssetsReceived">Grants Related To Assets Received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GrantsRelatedToAssetsReceived" xlink:to="label_dq_GrantsRelatedToAssetsReceived" xlink:title="Label : dq_GrantsRelatedToAssetsReceived to label_dq_GrantsRelatedToAssetsReceived" />
    <link:label xlink:type="resource" xlink:label="label_dq_GrantsRelatedToAssetsReceived_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_GrantsRelatedToAssetsReceived_1" xml:lang="en-US" id="label_dq_GrantsRelatedToAssetsReceived_1">Grants Related To Assets Received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GrantsRelatedToAssetsReceived" xlink:to="label_dq_GrantsRelatedToAssetsReceived_1" xlink:title="Label : dq_GrantsRelatedToAssetsReceived to label_dq_GrantsRelatedToAssetsReceived_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_GrantsRelatedToAssetsReceived_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_GrantsRelatedToAssetsReceived_2" xml:lang="en-US" id="label_dq_GrantsRelatedToAssetsReceived_2">Government grants related to assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_GrantsRelatedToAssetsReceived" xlink:to="label_dq_GrantsRelatedToAssetsReceived_2" xlink:title="Label : dq_GrantsRelatedToAssetsReceived to label_dq_GrantsRelatedToAssetsReceived_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_HuaxiaBankMember" xlink:label="dq_HuaxiaBankMember" xlink:title="dq_HuaxiaBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_HuaxiaBankMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_HuaxiaBankMember" xml:lang="en-US" id="label_dq_HuaxiaBankMember">Huaxia Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_HuaxiaBankMember" xlink:to="label_dq_HuaxiaBankMember" xlink:title="Label : dq_HuaxiaBankMember to label_dq_HuaxiaBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_HuaxiaBankMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_HuaxiaBankMember_1" xml:lang="en-US" id="label_dq_HuaxiaBankMember_1">Huaxia Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_HuaxiaBankMember" xlink:to="label_dq_HuaxiaBankMember_1" xlink:title="Label : dq_HuaxiaBankMember to label_dq_HuaxiaBankMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_IncreaseDecreaseInReceivablesFromInvestees" xlink:label="dq_IncreaseDecreaseInReceivablesFromInvestees" xlink:title="dq_IncreaseDecreaseInReceivablesFromInvestees" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInReceivablesFromInvestees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_IncreaseDecreaseInReceivablesFromInvestees" xml:lang="en-US" id="label_dq_IncreaseDecreaseInReceivablesFromInvestees">Increase (Decrease) In Receivables From Investees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInReceivablesFromInvestees" xlink:to="label_dq_IncreaseDecreaseInReceivablesFromInvestees" xlink:title="Label : dq_IncreaseDecreaseInReceivablesFromInvestees to label_dq_IncreaseDecreaseInReceivablesFromInvestees" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInReceivablesFromInvestees_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_IncreaseDecreaseInReceivablesFromInvestees_1" xml:lang="en-US" id="label_dq_IncreaseDecreaseInReceivablesFromInvestees_1">Increase (Decrease) In Receivables From Investees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInReceivablesFromInvestees" xlink:to="label_dq_IncreaseDecreaseInReceivablesFromInvestees_1" xlink:title="Label : dq_IncreaseDecreaseInReceivablesFromInvestees to label_dq_IncreaseDecreaseInReceivablesFromInvestees_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncreaseDecreaseInReceivablesFromInvestees_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_dq_IncreaseDecreaseInReceivablesFromInvestees_2" xml:lang="en-US" id="label_dq_IncreaseDecreaseInReceivablesFromInvestees_2">Receivable from investee</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncreaseDecreaseInReceivablesFromInvestees" xlink:to="label_dq_IncreaseDecreaseInReceivablesFromInvestees_2" xlink:title="Label : dq_IncreaseDecreaseInReceivablesFromInvestees to label_dq_IncreaseDecreaseInReceivablesFromInvestees_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_IndependentDirectorsMember" xlink:label="dq_IndependentDirectorsMember" xlink:title="dq_IndependentDirectorsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_IndependentDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_IndependentDirectorsMember" xml:lang="en-US" id="label_dq_IndependentDirectorsMember">Independent Directors [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IndependentDirectorsMember" xlink:to="label_dq_IndependentDirectorsMember" xlink:title="Label : dq_IndependentDirectorsMember to label_dq_IndependentDirectorsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_IndependentDirectorsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_IndependentDirectorsMember_1" xml:lang="en-US" id="label_dq_IndependentDirectorsMember_1">Independent Directors [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IndependentDirectorsMember" xlink:to="label_dq_IndependentDirectorsMember_1" xlink:title="Label : dq_IndependentDirectorsMember to label_dq_IndependentDirectorsMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_LandUseRightsAcquired" xlink:label="dq_LandUseRightsAcquired" xlink:title="dq_LandUseRightsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_dq_LandUseRightsAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_LandUseRightsAcquired" xml:lang="en-US" id="label_dq_LandUseRightsAcquired">Land Use Rights Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LandUseRightsAcquired" xlink:to="label_dq_LandUseRightsAcquired" xlink:title="Label : dq_LandUseRightsAcquired to label_dq_LandUseRightsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_dq_LandUseRightsAcquired_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_LandUseRightsAcquired_1" xml:lang="en-US" id="label_dq_LandUseRightsAcquired_1">Land Use Rights Acquired</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LandUseRightsAcquired" xlink:to="label_dq_LandUseRightsAcquired_1" xlink:title="Label : dq_LandUseRightsAcquired to label_dq_LandUseRightsAcquired_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_LandUseRightsAcquired_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_LandUseRightsAcquired_2" xml:lang="en-US" id="label_dq_LandUseRightsAcquired_2">Payment for land use rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LandUseRightsAcquired" xlink:to="label_dq_LandUseRightsAcquired_2" xlink:title="Label : dq_LandUseRightsAcquired to label_dq_LandUseRightsAcquired_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xlink:label="dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xlink:title="dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" />
    <link:label xlink:type="resource" xlink:label="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xml:lang="en-US" id="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment">Lessee Leasing Arrangements, Operating Leases, Annual Payment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xlink:to="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xlink:title="Label : dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment to label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" />
    <link:label xlink:type="resource" xlink:label="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_1" xml:lang="en-US" id="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_1">Lessee Leasing Arrangements Operating Leases Annual Payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xlink:to="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_1" xlink:title="Label : dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment to label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_2" xml:lang="en-US" id="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_2">Annual rental payment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment" xlink:to="label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_2" xlink:title="Label : dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment to label_dq_LesseeLeasingArrangementsOperatingLeasesAnnualPayment_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_LoanExtendedMember" xlink:label="dq_LoanExtendedMember" xlink:title="dq_LoanExtendedMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_LoanExtendedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_LoanExtendedMember" xml:lang="en-US" id="label_dq_LoanExtendedMember">Loan Extended [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LoanExtendedMember" xlink:to="label_dq_LoanExtendedMember" xlink:title="Label : dq_LoanExtendedMember to label_dq_LoanExtendedMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_LoanExtendedMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_LoanExtendedMember_1" xml:lang="en-US" id="label_dq_LoanExtendedMember_1">Loan Extended [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LoanExtendedMember" xlink:to="label_dq_LoanExtendedMember_1" xlink:title="Label : dq_LoanExtendedMember to label_dq_LoanExtendedMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NoncashFinancingActivitiesAbstract" xlink:label="dq_NoncashFinancingActivitiesAbstract" xlink:title="dq_NoncashFinancingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_NoncashFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NoncashFinancingActivitiesAbstract" xml:lang="en-US" id="label_dq_NoncashFinancingActivitiesAbstract">Noncash Financing Activities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NoncashFinancingActivitiesAbstract" xlink:to="label_dq_NoncashFinancingActivitiesAbstract" xlink:title="Label : dq_NoncashFinancingActivitiesAbstract to label_dq_NoncashFinancingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_NoncashFinancingActivitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NoncashFinancingActivitiesAbstract_1" xml:lang="en-US" id="label_dq_NoncashFinancingActivitiesAbstract_1">Noncash Financing Activities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NoncashFinancingActivitiesAbstract" xlink:to="label_dq_NoncashFinancingActivitiesAbstract_1" xlink:title="Label : dq_NoncashFinancingActivitiesAbstract to label_dq_NoncashFinancingActivitiesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_NoncashFinancingActivitiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_NoncashFinancingActivitiesAbstract_2" xml:lang="en-US" id="label_dq_NoncashFinancingActivitiesAbstract_2">Supplemental schedule of non-cash financing activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NoncashFinancingActivitiesAbstract" xlink:to="label_dq_NoncashFinancingActivitiesAbstract_2" xlink:title="Label : dq_NoncashFinancingActivitiesAbstract to label_dq_NoncashFinancingActivitiesAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NoncashInvestingActivitiesAbstract" xlink:label="dq_NoncashInvestingActivitiesAbstract" xlink:title="dq_NoncashInvestingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_NoncashInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NoncashInvestingActivitiesAbstract" xml:lang="en-US" id="label_dq_NoncashInvestingActivitiesAbstract">Noncash Investing Activities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NoncashInvestingActivitiesAbstract" xlink:to="label_dq_NoncashInvestingActivitiesAbstract" xlink:title="Label : dq_NoncashInvestingActivitiesAbstract to label_dq_NoncashInvestingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_NoncashInvestingActivitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NoncashInvestingActivitiesAbstract_1" xml:lang="en-US" id="label_dq_NoncashInvestingActivitiesAbstract_1">Noncash Investing Activities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NoncashInvestingActivitiesAbstract" xlink:to="label_dq_NoncashInvestingActivitiesAbstract_1" xlink:title="Label : dq_NoncashInvestingActivitiesAbstract to label_dq_NoncashInvestingActivitiesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_NoncashInvestingActivitiesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_NoncashInvestingActivitiesAbstract_2" xml:lang="en-US" id="label_dq_NoncashInvestingActivitiesAbstract_2">Supplemental schedule of non-cash investing activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NoncashInvestingActivitiesAbstract" xlink:to="label_dq_NoncashInvestingActivitiesAbstract_2" xlink:title="Label : dq_NoncashInvestingActivitiesAbstract to label_dq_NoncashInvestingActivitiesAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OptionsGrantedApril3Member" xlink:label="dq_OptionsGrantedApril3Member" xlink:title="dq_OptionsGrantedApril3Member" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedApril3Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OptionsGrantedApril3Member" xml:lang="en-US" id="label_dq_OptionsGrantedApril3Member">Options Granted April 3, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedApril3Member" xlink:to="label_dq_OptionsGrantedApril3Member" xlink:title="Label : dq_OptionsGrantedApril3Member to label_dq_OptionsGrantedApril3Member" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedApril3Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OptionsGrantedApril3Member_1" xml:lang="en-US" id="label_dq_OptionsGrantedApril3Member_1">Options Granted April 3 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedApril3Member" xlink:to="label_dq_OptionsGrantedApril3Member_1" xlink:title="Label : dq_OptionsGrantedApril3Member to label_dq_OptionsGrantedApril3Member_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedApril3Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OptionsGrantedApril3Member_2" xml:lang="en-US" id="label_dq_OptionsGrantedApril3Member_2">Options Granted April 3, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedApril3Member" xlink:to="label_dq_OptionsGrantedApril3Member_2" xlink:title="Label : dq_OptionsGrantedApril3Member to label_dq_OptionsGrantedApril3Member_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OptionsGrantedPeriodFourMember" xlink:label="dq_OptionsGrantedPeriodFourMember" xlink:title="dq_OptionsGrantedPeriodFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OptionsGrantedPeriodFourMember" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodFourMember">Options Granted Period Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodFourMember" xlink:to="label_dq_OptionsGrantedPeriodFourMember" xlink:title="Label : dq_OptionsGrantedPeriodFourMember to label_dq_OptionsGrantedPeriodFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodFourMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OptionsGrantedPeriodFourMember_1" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodFourMember_1">Options Granted Period Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodFourMember" xlink:to="label_dq_OptionsGrantedPeriodFourMember_1" xlink:title="Label : dq_OptionsGrantedPeriodFourMember to label_dq_OptionsGrantedPeriodFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodFourMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OptionsGrantedPeriodFourMember_2" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodFourMember_2">Options Granted October 31, 2009 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodFourMember" xlink:to="label_dq_OptionsGrantedPeriodFourMember_2" xlink:title="Label : dq_OptionsGrantedPeriodFourMember to label_dq_OptionsGrantedPeriodFourMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OptionsGrantedPeriodOneMember" xlink:label="dq_OptionsGrantedPeriodOneMember" xlink:title="dq_OptionsGrantedPeriodOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OptionsGrantedPeriodOneMember" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodOneMember">Options Granted Period One Member.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodOneMember" xlink:to="label_dq_OptionsGrantedPeriodOneMember" xlink:title="Label : dq_OptionsGrantedPeriodOneMember to label_dq_OptionsGrantedPeriodOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OptionsGrantedPeriodOneMember_1" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodOneMember_1">Options Granted Period One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodOneMember" xlink:to="label_dq_OptionsGrantedPeriodOneMember_1" xlink:title="Label : dq_OptionsGrantedPeriodOneMember to label_dq_OptionsGrantedPeriodOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OptionsGrantedPeriodOneMember_2" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodOneMember_2">Options Granted October 6, 2010 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodOneMember" xlink:to="label_dq_OptionsGrantedPeriodOneMember_2" xlink:title="Label : dq_OptionsGrantedPeriodOneMember to label_dq_OptionsGrantedPeriodOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OptionsGrantedPeriodThreeMember" xlink:label="dq_OptionsGrantedPeriodThreeMember" xlink:title="dq_OptionsGrantedPeriodThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OptionsGrantedPeriodThreeMember" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodThreeMember">Options Granted Period Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodThreeMember" xlink:to="label_dq_OptionsGrantedPeriodThreeMember" xlink:title="Label : dq_OptionsGrantedPeriodThreeMember to label_dq_OptionsGrantedPeriodThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OptionsGrantedPeriodThreeMember_1" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodThreeMember_1">Options Granted Period Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodThreeMember" xlink:to="label_dq_OptionsGrantedPeriodThreeMember_1" xlink:title="Label : dq_OptionsGrantedPeriodThreeMember to label_dq_OptionsGrantedPeriodThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OptionsGrantedPeriodThreeMember_2" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodThreeMember_2">Options Granted April 3, 2012 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodThreeMember" xlink:to="label_dq_OptionsGrantedPeriodThreeMember_2" xlink:title="Label : dq_OptionsGrantedPeriodThreeMember to label_dq_OptionsGrantedPeriodThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OptionsGrantedPeriodTwoMember" xlink:label="dq_OptionsGrantedPeriodTwoMember" xlink:title="dq_OptionsGrantedPeriodTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OptionsGrantedPeriodTwoMember" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodTwoMember">Options Granted Period Two Member.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodTwoMember" xlink:to="label_dq_OptionsGrantedPeriodTwoMember" xlink:title="Label : dq_OptionsGrantedPeriodTwoMember to label_dq_OptionsGrantedPeriodTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OptionsGrantedPeriodTwoMember_1" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodTwoMember_1">Options Granted Period Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodTwoMember" xlink:to="label_dq_OptionsGrantedPeriodTwoMember_1" xlink:title="Label : dq_OptionsGrantedPeriodTwoMember to label_dq_OptionsGrantedPeriodTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedPeriodTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OptionsGrantedPeriodTwoMember_2" xml:lang="en-US" id="label_dq_OptionsGrantedPeriodTwoMember_2">Options Granted December 3, 2010 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedPeriodTwoMember" xlink:to="label_dq_OptionsGrantedPeriodTwoMember_2" xlink:title="Label : dq_OptionsGrantedPeriodTwoMember to label_dq_OptionsGrantedPeriodTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OtherCustomersMember" xlink:label="dq_OtherCustomersMember" xlink:title="dq_OtherCustomersMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OtherCustomersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OtherCustomersMember" xml:lang="en-US" id="label_dq_OtherCustomersMember">Other Customers Member</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OtherCustomersMember" xlink:to="label_dq_OtherCustomersMember" xlink:title="Label : dq_OtherCustomersMember to label_dq_OtherCustomersMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OtherCustomersMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OtherCustomersMember_1" xml:lang="en-US" id="label_dq_OtherCustomersMember_1">Other Customers [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OtherCustomersMember" xlink:to="label_dq_OtherCustomersMember_1" xlink:title="Label : dq_OtherCustomersMember to label_dq_OtherCustomersMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OtherCustomersMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OtherCustomersMember_2" xml:lang="en-US" id="label_dq_OtherCustomersMember_2">Others [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OtherCustomersMember" xlink:to="label_dq_OtherCustomersMember_2" xlink:title="Label : dq_OtherCustomersMember to label_dq_OtherCustomersMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OtherItemsDisclosureTextBlock" xlink:label="dq_OtherItemsDisclosureTextBlock" xlink:title="dq_OtherItemsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_OtherItemsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OtherItemsDisclosureTextBlock" xml:lang="en-US" id="label_dq_OtherItemsDisclosureTextBlock">Other Items Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OtherItemsDisclosureTextBlock" xlink:to="label_dq_OtherItemsDisclosureTextBlock" xlink:title="Label : dq_OtherItemsDisclosureTextBlock to label_dq_OtherItemsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_OtherItemsDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OtherItemsDisclosureTextBlock_1" xml:lang="en-US" id="label_dq_OtherItemsDisclosureTextBlock_1">Other Items Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OtherItemsDisclosureTextBlock" xlink:to="label_dq_OtherItemsDisclosureTextBlock_1" xlink:title="Label : dq_OtherItemsDisclosureTextBlock to label_dq_OtherItemsDisclosureTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OtherItemsDisclosureTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OtherItemsDisclosureTextBlock_2" xml:lang="en-US" id="label_dq_OtherItemsDisclosureTextBlock_2">MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OtherItemsDisclosureTextBlock" xlink:to="label_dq_OtherItemsDisclosureTextBlock_2" xlink:title="Label : dq_OtherItemsDisclosureTextBlock to label_dq_OtherItemsDisclosureTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OtherSubsidiariesOfDaqoGroupMember" xlink:label="dq_OtherSubsidiariesOfDaqoGroupMember" xlink:title="dq_OtherSubsidiariesOfDaqoGroupMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_OtherSubsidiariesOfDaqoGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OtherSubsidiariesOfDaqoGroupMember" xml:lang="en-US" id="label_dq_OtherSubsidiariesOfDaqoGroupMember">Other Subsidiaries of Daqo Group [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OtherSubsidiariesOfDaqoGroupMember" xlink:to="label_dq_OtherSubsidiariesOfDaqoGroupMember" xlink:title="Label : dq_OtherSubsidiariesOfDaqoGroupMember to label_dq_OtherSubsidiariesOfDaqoGroupMember" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PaymentsForFinancingTransactionMember" xlink:label="dq_PaymentsForFinancingTransactionMember" xlink:title="dq_PaymentsForFinancingTransactionMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PaymentsForFinancingTransactionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PaymentsForFinancingTransactionMember" xml:lang="en-US" id="label_dq_PaymentsForFinancingTransactionMember">Payments for Financing Transaction [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PaymentsForFinancingTransactionMember" xlink:to="label_dq_PaymentsForFinancingTransactionMember" xlink:title="Label : dq_PaymentsForFinancingTransactionMember to label_dq_PaymentsForFinancingTransactionMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PaymentsForFinancingTransactionMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PaymentsForFinancingTransactionMember_1" xml:lang="en-US" id="label_dq_PaymentsForFinancingTransactionMember_1">Payments for Financing Transaction [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PaymentsForFinancingTransactionMember" xlink:to="label_dq_PaymentsForFinancingTransactionMember_1" xlink:title="Label : dq_PaymentsForFinancingTransactionMember to label_dq_PaymentsForFinancingTransactionMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_PaymentsForFinancingTransactionMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_PaymentsForFinancingTransactionMember_2" xml:lang="en-US" id="label_dq_PaymentsForFinancingTransactionMember_2">Repayment of Interest Free Loans [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PaymentsForFinancingTransactionMember" xlink:to="label_dq_PaymentsForFinancingTransactionMember_2" xlink:title="Label : dq_PaymentsForFinancingTransactionMember to label_dq_PaymentsForFinancingTransactionMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PolysiliconMember" xlink:label="dq_PolysiliconMember" xlink:title="dq_PolysiliconMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PolysiliconMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PolysiliconMember" xml:lang="en-US" id="label_dq_PolysiliconMember">Polysilicon Member</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PolysiliconMember" xlink:to="label_dq_PolysiliconMember" xlink:title="Label : dq_PolysiliconMember to label_dq_PolysiliconMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PolysiliconMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PolysiliconMember_1" xml:lang="en-US" id="label_dq_PolysiliconMember_1">Polysilicon [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PolysiliconMember" xlink:to="label_dq_PolysiliconMember_1" xlink:title="Label : dq_PolysiliconMember to label_dq_PolysiliconMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PrepaymentReceivedMember" xlink:label="dq_PrepaymentReceivedMember" xlink:title="dq_PrepaymentReceivedMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PrepaymentReceivedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PrepaymentReceivedMember" xml:lang="en-US" id="label_dq_PrepaymentReceivedMember">Prepayment Received [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PrepaymentReceivedMember" xlink:to="label_dq_PrepaymentReceivedMember" xlink:title="Label : dq_PrepaymentReceivedMember to label_dq_PrepaymentReceivedMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PrepaymentReceivedMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PrepaymentReceivedMember_1" xml:lang="en-US" id="label_dq_PrepaymentReceivedMember_1">Prepayment Received [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PrepaymentReceivedMember" xlink:to="label_dq_PrepaymentReceivedMember_1" xlink:title="Label : dq_PrepaymentReceivedMember to label_dq_PrepaymentReceivedMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ProceedsFromFinancingTransactionMember" xlink:label="dq_ProceedsFromFinancingTransactionMember" xlink:title="dq_ProceedsFromFinancingTransactionMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProceedsFromFinancingTransactionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ProceedsFromFinancingTransactionMember" xml:lang="en-US" id="label_dq_ProceedsFromFinancingTransactionMember">Proceeds from Financing Transaction [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProceedsFromFinancingTransactionMember" xlink:to="label_dq_ProceedsFromFinancingTransactionMember" xlink:title="Label : dq_ProceedsFromFinancingTransactionMember to label_dq_ProceedsFromFinancingTransactionMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProceedsFromFinancingTransactionMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ProceedsFromFinancingTransactionMember_1" xml:lang="en-US" id="label_dq_ProceedsFromFinancingTransactionMember_1">Proceeds from Financing Transaction [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProceedsFromFinancingTransactionMember" xlink:to="label_dq_ProceedsFromFinancingTransactionMember_1" xlink:title="Label : dq_ProceedsFromFinancingTransactionMember to label_dq_ProceedsFromFinancingTransactionMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProceedsFromFinancingTransactionMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ProceedsFromFinancingTransactionMember_2" xml:lang="en-US" id="label_dq_ProceedsFromFinancingTransactionMember_2">Proceeds From Interest Free Loans [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProceedsFromFinancingTransactionMember" xlink:to="label_dq_ProceedsFromFinancingTransactionMember_2" xlink:title="Label : dq_ProceedsFromFinancingTransactionMember to label_dq_ProceedsFromFinancingTransactionMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ProcessingFeesMember" xlink:label="dq_ProcessingFeesMember" xlink:title="dq_ProcessingFeesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProcessingFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ProcessingFeesMember" xml:lang="en-US" id="label_dq_ProcessingFeesMember">Processing Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProcessingFeesMember" xlink:to="label_dq_ProcessingFeesMember" xlink:title="Label : dq_ProcessingFeesMember to label_dq_ProcessingFeesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProcessingFeesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ProcessingFeesMember_1" xml:lang="en-US" id="label_dq_ProcessingFeesMember_1">Processing Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProcessingFeesMember" xlink:to="label_dq_ProcessingFeesMember_1" xlink:title="Label : dq_ProcessingFeesMember to label_dq_ProcessingFeesMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PurchasesOfFixedAssetsMember" xlink:label="dq_PurchasesOfFixedAssetsMember" xlink:title="dq_PurchasesOfFixedAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PurchasesOfFixedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PurchasesOfFixedAssetsMember" xml:lang="en-US" id="label_dq_PurchasesOfFixedAssetsMember">Purchases of Fixed Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PurchasesOfFixedAssetsMember" xlink:to="label_dq_PurchasesOfFixedAssetsMember" xlink:title="Label : dq_PurchasesOfFixedAssetsMember to label_dq_PurchasesOfFixedAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PurchasesOfFixedAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PurchasesOfFixedAssetsMember_1" xml:lang="en-US" id="label_dq_PurchasesOfFixedAssetsMember_1">Purchases of Fixed Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PurchasesOfFixedAssetsMember" xlink:to="label_dq_PurchasesOfFixedAssetsMember_1" xlink:title="Label : dq_PurchasesOfFixedAssetsMember to label_dq_PurchasesOfFixedAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PurchasesOfRawMaterialsMember" xlink:label="dq_PurchasesOfRawMaterialsMember" xlink:title="dq_PurchasesOfRawMaterialsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PurchasesOfRawMaterialsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PurchasesOfRawMaterialsMember" xml:lang="en-US" id="label_dq_PurchasesOfRawMaterialsMember">Purchases of Raw Materials [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PurchasesOfRawMaterialsMember" xlink:to="label_dq_PurchasesOfRawMaterialsMember" xlink:title="Label : dq_PurchasesOfRawMaterialsMember to label_dq_PurchasesOfRawMaterialsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PurchasesOfRawMaterialsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PurchasesOfRawMaterialsMember_1" xml:lang="en-US" id="label_dq_PurchasesOfRawMaterialsMember_1">Purchases of Raw Materials [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PurchasesOfRawMaterialsMember" xlink:to="label_dq_PurchasesOfRawMaterialsMember_1" xlink:title="Label : dq_PurchasesOfRawMaterialsMember to label_dq_PurchasesOfRawMaterialsMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:label="dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:title="dq_RelevantEmployeesAndExecutiveOfficersMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_RelevantEmployeesAndExecutiveOfficersMember" xml:lang="en-US" id="label_dq_RelevantEmployeesAndExecutiveOfficersMember">Relevant Employees and Executive Officers [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:to="label_dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:title="Label : dq_RelevantEmployeesAndExecutiveOfficersMember to label_dq_RelevantEmployeesAndExecutiveOfficersMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_RelevantEmployeesAndExecutiveOfficersMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_RelevantEmployeesAndExecutiveOfficersMember_1" xml:lang="en-US" id="label_dq_RelevantEmployeesAndExecutiveOfficersMember_1">Relevant Employees and Executive Officers [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_RelevantEmployeesAndExecutiveOfficersMember" xlink:to="label_dq_RelevantEmployeesAndExecutiveOfficersMember_1" xlink:title="Label : dq_RelevantEmployeesAndExecutiveOfficersMember to label_dq_RelevantEmployeesAndExecutiveOfficersMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:title="dei_TradingSymbol" />
    <link:label xlink:type="resource" xlink:label="label_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_TradingSymbol" xml:lang="en-US" id="label_dei_TradingSymbol">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="label_dei_TradingSymbol" xlink:title="Label : dei_TradingSymbol to label_dei_TradingSymbol" />
    <link:label xlink:type="resource" xlink:label="label_dei_TradingSymbol_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_TradingSymbol_1" xml:lang="en-US" id="label_dei_TradingSymbol_1">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="label_dei_TradingSymbol_1" xlink:title="Label : dei_TradingSymbol to label_dei_TradingSymbol_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_RentalExpensesMember" xlink:label="dq_RentalExpensesMember" xlink:title="dq_RentalExpensesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_RentalExpensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_RentalExpensesMember" xml:lang="en-US" id="label_dq_RentalExpensesMember">Rental Expenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_RentalExpensesMember" xlink:to="label_dq_RentalExpensesMember" xlink:title="Label : dq_RentalExpensesMember to label_dq_RentalExpensesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_RentalExpensesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_RentalExpensesMember_1" xml:lang="en-US" id="label_dq_RentalExpensesMember_1">Rental Expenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_RentalExpensesMember" xlink:to="label_dq_RentalExpensesMember_1" xlink:title="Label : dq_RentalExpensesMember to label_dq_RentalExpensesMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:label="dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:title="dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xml:lang="en-US" id="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock">Tabular disclosure of short-term loan balances with related parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:to="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:title="Label : dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock to label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_1" xml:lang="en-US" id="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_1">Schedule of Related Party Balances, Loans [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:to="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_1" xlink:title="Label : dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock to label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_2" xml:lang="en-US" id="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_2">Schedule of Related Party Balances, Loans</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock" xlink:to="label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_2" xlink:title="Label : dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock to label_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:label="dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:title="dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xml:lang="en-US" id="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock">Tabular disclosure of payables balances with related parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:to="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:title="Label : dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock to label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_1" xml:lang="en-US" id="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_1">Schedule of Related Party Balances, Payables [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:to="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_1" xlink:title="Label : dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock to label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_2" xml:lang="en-US" id="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_2">Schedule of Related Party Balances, Payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock" xlink:to="label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_2" xlink:title="Label : dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock to label_dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ServiceExpensesMember" xlink:label="dq_ServiceExpensesMember" xlink:title="dq_ServiceExpensesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ServiceExpensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ServiceExpensesMember" xml:lang="en-US" id="label_dq_ServiceExpensesMember">Service Expenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ServiceExpensesMember" xlink:to="label_dq_ServiceExpensesMember" xlink:title="Label : dq_ServiceExpensesMember to label_dq_ServiceExpensesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ServiceExpensesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ServiceExpensesMember_1" xml:lang="en-US" id="label_dq_ServiceExpensesMember_1">Service Expenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ServiceExpensesMember" xlink:to="label_dq_ServiceExpensesMember_1" xlink:title="Label : dq_ServiceExpensesMember to label_dq_ServiceExpensesMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" xlink:label="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" xlink:title="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" xml:lang="en-US" id="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract">Share Based Compensation Arrangement By Share Based Payment Award Options Aggregate Intrinsic Value [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" xlink:to="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" xlink:title="Label : dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract to label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract_1" xml:lang="en-US" id="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract_1">Aggregate Intrinsic Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract" xlink:to="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract_1" xlink:title="Label : dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract to label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:label="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:title="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xml:lang="en-US" id="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified">Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number Of Options Modified.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:to="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:title="Label : dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified to label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_1" xml:lang="en-US" id="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_1">Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Number Of Options Modified</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:to="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_1" xlink:title="Label : dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified to label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_2" xml:lang="en-US" id="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_2">Number of options modified</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified" xlink:to="label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_2" xlink:title="Label : dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified to label_dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfOptionsModified_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ShortTermLoanRenewals" xlink:label="dq_ShortTermLoanRenewals" xlink:title="dq_ShortTermLoanRenewals" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShortTermLoanRenewals" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ShortTermLoanRenewals" xml:lang="en-US" id="label_dq_ShortTermLoanRenewals">Short Term Loan Renewals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShortTermLoanRenewals" xlink:to="label_dq_ShortTermLoanRenewals" xlink:title="Label : dq_ShortTermLoanRenewals to label_dq_ShortTermLoanRenewals" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShortTermLoanRenewals_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ShortTermLoanRenewals_1" xml:lang="en-US" id="label_dq_ShortTermLoanRenewals_1">Short Term Loan Renewals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShortTermLoanRenewals" xlink:to="label_dq_ShortTermLoanRenewals_1" xlink:title="Label : dq_ShortTermLoanRenewals to label_dq_ShortTermLoanRenewals_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShortTermLoanRenewals_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ShortTermLoanRenewals_2" xml:lang="en-US" id="label_dq_ShortTermLoanRenewals_2">Short-term loan renewals</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShortTermLoanRenewals" xlink:to="label_dq_ShortTermLoanRenewals_2" xlink:title="Label : dq_ShortTermLoanRenewals to label_dq_ShortTermLoanRenewals_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_SignificantProductionAssetsMember" xlink:label="dq_SignificantProductionAssetsMember" xlink:title="dq_SignificantProductionAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_SignificantProductionAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_SignificantProductionAssetsMember" xml:lang="en-US" id="label_dq_SignificantProductionAssetsMember">Significant Production Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SignificantProductionAssetsMember" xlink:to="label_dq_SignificantProductionAssetsMember" xlink:title="Label : dq_SignificantProductionAssetsMember to label_dq_SignificantProductionAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_SignificantProductionAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_SignificantProductionAssetsMember_1" xml:lang="en-US" id="label_dq_SignificantProductionAssetsMember_1">Significant Production Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SignificantProductionAssetsMember" xlink:to="label_dq_SignificantProductionAssetsMember_1" xlink:title="Label : dq_SignificantProductionAssetsMember to label_dq_SignificantProductionAssetsMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:label="dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:title="dq_SupplementalCashFlowInformationDivestituresAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_SupplementalCashFlowInformationDivestituresAbstract" xml:lang="en-US" id="label_dq_SupplementalCashFlowInformationDivestituresAbstract">Supplemental Cash Flow Information, Divestitures [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:to="label_dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:title="Label : dq_SupplementalCashFlowInformationDivestituresAbstract to label_dq_SupplementalCashFlowInformationDivestituresAbstract" />
    <link:label xlink:type="resource" xlink:label="label_dq_SupplementalCashFlowInformationDivestituresAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_SupplementalCashFlowInformationDivestituresAbstract_1" xml:lang="en-US" id="label_dq_SupplementalCashFlowInformationDivestituresAbstract_1">Disposition and Deconsolidation:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_SupplementalCashFlowInformationDivestituresAbstract" xlink:to="label_dq_SupplementalCashFlowInformationDivestituresAbstract_1" xlink:title="Label : dq_SupplementalCashFlowInformationDivestituresAbstract to label_dq_SupplementalCashFlowInformationDivestituresAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_UnrestrictedCashSubsidies" xlink:label="dq_UnrestrictedCashSubsidies" xlink:title="dq_UnrestrictedCashSubsidies" />
    <link:label xlink:type="resource" xlink:label="label_dq_UnrestrictedCashSubsidies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_UnrestrictedCashSubsidies" xml:lang="en-US" id="label_dq_UnrestrictedCashSubsidies">Unrestricted Cash Subsidies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_UnrestrictedCashSubsidies" xlink:to="label_dq_UnrestrictedCashSubsidies" xlink:title="Label : dq_UnrestrictedCashSubsidies to label_dq_UnrestrictedCashSubsidies" />
    <link:label xlink:type="resource" xlink:label="label_dq_UnrestrictedCashSubsidies_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_UnrestrictedCashSubsidies_1" xml:lang="en-US" id="label_dq_UnrestrictedCashSubsidies_1">Unrestricted Cash Subsidies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_UnrestrictedCashSubsidies" xlink:to="label_dq_UnrestrictedCashSubsidies_1" xlink:title="Label : dq_UnrestrictedCashSubsidies to label_dq_UnrestrictedCashSubsidies_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_UnrestrictedCashSubsidies_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_UnrestrictedCashSubsidies_2" xml:lang="en-US" id="label_dq_UnrestrictedCashSubsidies_2">Unrestricted cash government subsidies</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_UnrestrictedCashSubsidies" xlink:to="label_dq_UnrestrictedCashSubsidies_2" xlink:title="Label : dq_UnrestrictedCashSubsidies to label_dq_UnrestrictedCashSubsidies_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ValueOfEquipmentReceived" xlink:label="dq_ValueOfEquipmentReceived" xlink:title="dq_ValueOfEquipmentReceived" />
    <link:label xlink:type="resource" xlink:label="label_dq_ValueOfEquipmentReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ValueOfEquipmentReceived" xml:lang="en-US" id="label_dq_ValueOfEquipmentReceived">Value Of Equipment Received.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ValueOfEquipmentReceived" xlink:to="label_dq_ValueOfEquipmentReceived" xlink:title="Label : dq_ValueOfEquipmentReceived to label_dq_ValueOfEquipmentReceived" />
    <link:label xlink:type="resource" xlink:label="label_dq_ValueOfEquipmentReceived_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ValueOfEquipmentReceived_1" xml:lang="en-US" id="label_dq_ValueOfEquipmentReceived_1">Value Of Equipment Received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ValueOfEquipmentReceived" xlink:to="label_dq_ValueOfEquipmentReceived_1" xlink:title="Label : dq_ValueOfEquipmentReceived to label_dq_ValueOfEquipmentReceived_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ValueOfEquipmentReceived_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ValueOfEquipmentReceived_2" xml:lang="en-US" id="label_dq_ValueOfEquipmentReceived_2">Value of equipment received</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ValueOfEquipmentReceived" xlink:to="label_dq_ValueOfEquipmentReceived_2" xlink:title="Label : dq_ValueOfEquipmentReceived to label_dq_ValueOfEquipmentReceived_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_VestingInFirstSixMonthsMember" xlink:label="dq_VestingInFirstSixMonthsMember" xlink:title="dq_VestingInFirstSixMonthsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInFirstSixMonthsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_VestingInFirstSixMonthsMember" xml:lang="en-US" id="label_dq_VestingInFirstSixMonthsMember">Vesting in First Six Months [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInFirstSixMonthsMember" xlink:to="label_dq_VestingInFirstSixMonthsMember" xlink:title="Label : dq_VestingInFirstSixMonthsMember to label_dq_VestingInFirstSixMonthsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInFirstSixMonthsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_VestingInFirstSixMonthsMember_1" xml:lang="en-US" id="label_dq_VestingInFirstSixMonthsMember_1">Vesting in First Six Months [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInFirstSixMonthsMember" xlink:to="label_dq_VestingInFirstSixMonthsMember_1" xlink:title="Label : dq_VestingInFirstSixMonthsMember to label_dq_VestingInFirstSixMonthsMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:title="dei_EntityWellKnownSeasonedIssuer" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityWellKnownSeasonedIssuer" xml:lang="en-US" id="label_dei_EntityWellKnownSeasonedIssuer">Entity Well Known Seasoned Issuer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="label_dei_EntityWellKnownSeasonedIssuer" xlink:title="Label : dei_EntityWellKnownSeasonedIssuer to label_dei_EntityWellKnownSeasonedIssuer" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityWellKnownSeasonedIssuer_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntityWellKnownSeasonedIssuer_1" xml:lang="en-US" id="label_dei_EntityWellKnownSeasonedIssuer_1">Entity Well-known Seasoned Issuer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="label_dei_EntityWellKnownSeasonedIssuer_1" xlink:title="Label : dei_EntityWellKnownSeasonedIssuer to label_dei_EntityWellKnownSeasonedIssuer_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_VestingInstallmentsDuringVestingPeriod" xlink:label="dq_VestingInstallmentsDuringVestingPeriod" xlink:title="dq_VestingInstallmentsDuringVestingPeriod" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInstallmentsDuringVestingPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_VestingInstallmentsDuringVestingPeriod" xml:lang="en-US" id="label_dq_VestingInstallmentsDuringVestingPeriod">Vesting Installments During Vesting Period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInstallmentsDuringVestingPeriod" xlink:to="label_dq_VestingInstallmentsDuringVestingPeriod" xlink:title="Label : dq_VestingInstallmentsDuringVestingPeriod to label_dq_VestingInstallmentsDuringVestingPeriod" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInstallmentsDuringVestingPeriod_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_VestingInstallmentsDuringVestingPeriod_1" xml:lang="en-US" id="label_dq_VestingInstallmentsDuringVestingPeriod_1">Vesting Installments During Vesting Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInstallmentsDuringVestingPeriod" xlink:to="label_dq_VestingInstallmentsDuringVestingPeriod_1" xlink:title="Label : dq_VestingInstallmentsDuringVestingPeriod to label_dq_VestingInstallmentsDuringVestingPeriod_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInstallmentsDuringVestingPeriod_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_VestingInstallmentsDuringVestingPeriod_2" xml:lang="en-US" id="label_dq_VestingInstallmentsDuringVestingPeriod_2">Vesting installments during vesting period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInstallmentsDuringVestingPeriod" xlink:to="label_dq_VestingInstallmentsDuringVestingPeriod_2" xlink:title="Label : dq_VestingInstallmentsDuringVestingPeriod to label_dq_VestingInstallmentsDuringVestingPeriod_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_VestingInYearOneMember" xlink:label="dq_VestingInYearOneMember" xlink:title="dq_VestingInYearOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInYearOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_VestingInYearOneMember" xml:lang="en-US" id="label_dq_VestingInYearOneMember">Vesting in Year One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInYearOneMember" xlink:to="label_dq_VestingInYearOneMember" xlink:title="Label : dq_VestingInYearOneMember to label_dq_VestingInYearOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInYearOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_VestingInYearOneMember_1" xml:lang="en-US" id="label_dq_VestingInYearOneMember_1">Vesting in Year One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInYearOneMember" xlink:to="label_dq_VestingInYearOneMember_1" xlink:title="Label : dq_VestingInYearOneMember to label_dq_VestingInYearOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInYearOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_VestingInYearOneMember_2" xml:lang="en-US" id="label_dq_VestingInYearOneMember_2">Vesting in First Half Year [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInYearOneMember" xlink:to="label_dq_VestingInYearOneMember_2" xlink:title="Label : dq_VestingInYearOneMember to label_dq_VestingInYearOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:title="dei_EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCurrentReportingStatus" xml:lang="en-US" id="label_dei_EntityCurrentReportingStatus">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="label_dei_EntityCurrentReportingStatus" xlink:title="Label : dei_EntityCurrentReportingStatus to label_dei_EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCurrentReportingStatus_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntityCurrentReportingStatus_1" xml:lang="en-US" id="label_dei_EntityCurrentReportingStatus_1">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="label_dei_EntityCurrentReportingStatus_1" xlink:title="Label : dei_EntityCurrentReportingStatus to label_dei_EntityCurrentReportingStatus_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:title="dei_EntityFilerCategory" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityFilerCategory" xml:lang="en-US" id="label_dei_EntityFilerCategory">Entity Filer Category</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="label_dei_EntityFilerCategory" xlink:title="Label : dei_EntityFilerCategory to label_dei_EntityFilerCategory" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityFilerCategory_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntityFilerCategory_1" xml:lang="en-US" id="label_dei_EntityFilerCategory_1">Entity Filer Category</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="label_dei_EntityFilerCategory_1" xlink:title="Label : dei_EntityFilerCategory to label_dei_EntityFilerCategory_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_VestingInYearTwoMember" xlink:label="dq_VestingInYearTwoMember" xlink:title="dq_VestingInYearTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInYearTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_VestingInYearTwoMember" xml:lang="en-US" id="label_dq_VestingInYearTwoMember">Vesting in Year Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInYearTwoMember" xlink:to="label_dq_VestingInYearTwoMember" xlink:title="Label : dq_VestingInYearTwoMember to label_dq_VestingInYearTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInYearTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_VestingInYearTwoMember_1" xml:lang="en-US" id="label_dq_VestingInYearTwoMember_1">Vesting in Year Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInYearTwoMember" xlink:to="label_dq_VestingInYearTwoMember_1" xlink:title="Label : dq_VestingInYearTwoMember to label_dq_VestingInYearTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_VestingInYearTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_VestingInYearTwoMember_2" xml:lang="en-US" id="label_dq_VestingInYearTwoMember_2">Vesting in Second Half Year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_VestingInYearTwoMember" xlink:to="label_dq_VestingInYearTwoMember_2" xlink:title="Label : dq_VestingInYearTwoMember to label_dq_VestingInYearTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_WaferMember" xlink:label="dq_WaferMember" xlink:title="dq_WaferMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_WaferMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_WaferMember" xml:lang="en-US" id="label_dq_WaferMember">Wafer [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_WaferMember" xlink:to="label_dq_WaferMember" xlink:title="Label : dq_WaferMember to label_dq_WaferMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_WaferMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_WaferMember_1" xml:lang="en-US" id="label_dq_WaferMember_1">Wafer [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_WaferMember" xlink:to="label_dq_WaferMember_1" xlink:title="Label : dq_WaferMember to label_dq_WaferMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:title="dei_EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityRegistrantName" xml:lang="en-US" id="label_dei_EntityRegistrantName">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="label_dei_EntityRegistrantName" xlink:title="Label : dei_EntityRegistrantName to label_dei_EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityRegistrantName_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntityRegistrantName_1" xml:lang="en-US" id="label_dei_EntityRegistrantName_1">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="label_dei_EntityRegistrantName_1" xlink:title="Label : dei_EntityRegistrantName to label_dei_EntityRegistrantName_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:label="dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:title="dq_XinjiangDaqoNewEnergyCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_XinjiangDaqoNewEnergyCoLtdMember" xml:lang="en-US" id="label_dq_XinjiangDaqoNewEnergyCoLtdMember">Xinjiang Daqo New Energy Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:to="label_dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:title="Label : dq_XinjiangDaqoNewEnergyCoLtdMember to label_dq_XinjiangDaqoNewEnergyCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_XinjiangDaqoNewEnergyCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_XinjiangDaqoNewEnergyCoLtdMember_1" xml:lang="en-US" id="label_dq_XinjiangDaqoNewEnergyCoLtdMember_1">Xinjiang Daqo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:to="label_dq_XinjiangDaqoNewEnergyCoLtdMember_1" xlink:title="Label : dq_XinjiangDaqoNewEnergyCoLtdMember to label_dq_XinjiangDaqoNewEnergyCoLtdMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_XinjiangDaqoNewEnergyCoLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_dq_XinjiangDaqoNewEnergyCoLtdMember_2" xml:lang="en-US" id="label_dq_XinjiangDaqoNewEnergyCoLtdMember_2" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_XinjiangDaqoNewEnergyCoLtdMember" xlink:to="label_dq_XinjiangDaqoNewEnergyCoLtdMember_2" xlink:title="Label : dq_XinjiangDaqoNewEnergyCoLtdMember to label_dq_XinjiangDaqoNewEnergyCoLtdMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:title="dei_EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCentralIndexKey" xml:lang="en-US" id="label_dei_EntityCentralIndexKey">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="label_dei_EntityCentralIndexKey" xlink:title="Label : dei_EntityCentralIndexKey to label_dei_EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCentralIndexKey_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntityCentralIndexKey_1" xml:lang="en-US" id="label_dei_EntityCentralIndexKey_1">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="label_dei_EntityCentralIndexKey_1" xlink:title="Label : dei_EntityCentralIndexKey to label_dei_EntityCentralIndexKey_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ZhengjiangDaqoSolarCoLtdMember" xlink:label="dq_ZhengjiangDaqoSolarCoLtdMember" xlink:title="dq_ZhengjiangDaqoSolarCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ZhengjiangDaqoSolarCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ZhengjiangDaqoSolarCoLtdMember" xml:lang="en-US" id="label_dq_ZhengjiangDaqoSolarCoLtdMember">Zhengjiang Daqo Solar Co. Ltd</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ZhengjiangDaqoSolarCoLtdMember" xlink:to="label_dq_ZhengjiangDaqoSolarCoLtdMember" xlink:title="Label : dq_ZhengjiangDaqoSolarCoLtdMember to label_dq_ZhengjiangDaqoSolarCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ZhengjiangDaqoSolarCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ZhengjiangDaqoSolarCoLtdMember_1" xml:lang="en-US" id="label_dq_ZhengjiangDaqoSolarCoLtdMember_1">Zhengjiang Daqo Solar Co. Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ZhengjiangDaqoSolarCoLtdMember" xlink:to="label_dq_ZhengjiangDaqoSolarCoLtdMember_1" xlink:title="Label : dq_ZhengjiangDaqoSolarCoLtdMember to label_dq_ZhengjiangDaqoSolarCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DepreciableAssetMember" xlink:label="dq_DepreciableAssetMember" xlink:title="dq_DepreciableAssetMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DepreciableAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DepreciableAssetMember" xml:lang="en-US" id="label_dq_DepreciableAssetMember">Depreciable Asset [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DepreciableAssetMember" xlink:to="label_dq_DepreciableAssetMember" xlink:title="Label : dq_DepreciableAssetMember to label_dq_DepreciableAssetMember" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NonrelatedPartyMember" xlink:label="dq_NonrelatedPartyMember" xlink:title="dq_NonrelatedPartyMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NonrelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NonrelatedPartyMember" xml:lang="en-US" id="label_dq_NonrelatedPartyMember">Entities that are non-related to the Company.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NonrelatedPartyMember" xlink:to="label_dq_NonrelatedPartyMember" xlink:title="Label : dq_NonrelatedPartyMember to label_dq_NonrelatedPartyMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NonrelatedPartyMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NonrelatedPartyMember_1" xml:lang="en-US" id="label_dq_NonrelatedPartyMember_1">Nonrelated Party [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NonrelatedPartyMember" xlink:to="label_dq_NonrelatedPartyMember_1" xlink:title="Label : dq_NonrelatedPartyMember to label_dq_NonrelatedPartyMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_NonrelatedPartyMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_NonrelatedPartyMember_2" xml:lang="en-US" id="label_dq_NonrelatedPartyMember_2">Third parties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NonrelatedPartyMember" xlink:to="label_dq_NonrelatedPartyMember_2" xlink:title="Label : dq_NonrelatedPartyMember to label_dq_NonrelatedPartyMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ServiceMember" xlink:label="dq_ServiceMember" xlink:title="dq_ServiceMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ServiceMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ServiceMember" xml:lang="en-US" id="label_dq_ServiceMember">Service or group of services that are sold by an entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ServiceMember" xlink:to="label_dq_ServiceMember" xlink:title="Label : dq_ServiceMember to label_dq_ServiceMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ServiceMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ServiceMember_1" xml:lang="en-US" id="label_dq_ServiceMember_1">Service [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ServiceMember" xlink:to="label_dq_ServiceMember_1" xlink:title="Label : dq_ServiceMember to label_dq_ServiceMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ServiceMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ServiceMember_2" xml:lang="en-US" id="label_dq_ServiceMember_2">Service Fee [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ServiceMember" xlink:to="label_dq_ServiceMember_2" xlink:title="Label : dq_ServiceMember to label_dq_ServiceMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:title="dei_EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US" id="label_dei_EntityCommonStockSharesOutstanding">Entity Common Stock Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="label_dei_EntityCommonStockSharesOutstanding" xlink:title="Label : dei_EntityCommonStockSharesOutstanding to label_dei_EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCommonStockSharesOutstanding_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_EntityCommonStockSharesOutstanding_1" xml:lang="en-US" id="label_dei_EntityCommonStockSharesOutstanding_1">Entity Common Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="label_dei_EntityCommonStockSharesOutstanding_1" xlink:title="Label : dei_EntityCommonStockSharesOutstanding to label_dei_EntityCommonStockSharesOutstanding_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ExpectedPlantCapacity" xlink:label="dq_ExpectedPlantCapacity" xlink:title="dq_ExpectedPlantCapacity" />
    <link:label xlink:type="resource" xlink:label="label_dq_ExpectedPlantCapacity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ExpectedPlantCapacity" xml:lang="en-US" id="label_dq_ExpectedPlantCapacity">Expected Plant Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ExpectedPlantCapacity" xlink:to="label_dq_ExpectedPlantCapacity" xlink:title="Label : dq_ExpectedPlantCapacity to label_dq_ExpectedPlantCapacity" />
    <link:label xlink:type="resource" xlink:label="label_dq_ExpectedPlantCapacity_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ExpectedPlantCapacity_1" xml:lang="en-US" id="label_dq_ExpectedPlantCapacity_1">Expected Plant Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ExpectedPlantCapacity" xlink:to="label_dq_ExpectedPlantCapacity_1" xlink:title="Label : dq_ExpectedPlantCapacity to label_dq_ExpectedPlantCapacity_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ExpectedPlantCapacity_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ExpectedPlantCapacity_2" xml:lang="en-US" id="label_dq_ExpectedPlantCapacity_2">Expected capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ExpectedPlantCapacity" xlink:to="label_dq_ExpectedPlantCapacity_2" xlink:title="Label : dq_ExpectedPlantCapacity to label_dq_ExpectedPlantCapacity_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AverageCashCostOfPolysilicon" xlink:label="dq_AverageCashCostOfPolysilicon" xlink:title="dq_AverageCashCostOfPolysilicon" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageCashCostOfPolysilicon" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AverageCashCostOfPolysilicon" xml:lang="en-US" id="label_dq_AverageCashCostOfPolysilicon">Average Cash Cost of Polysilicon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageCashCostOfPolysilicon" xlink:to="label_dq_AverageCashCostOfPolysilicon" xlink:title="Label : dq_AverageCashCostOfPolysilicon to label_dq_AverageCashCostOfPolysilicon" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageCashCostOfPolysilicon_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AverageCashCostOfPolysilicon_1" xml:lang="en-US" id="label_dq_AverageCashCostOfPolysilicon_1">Average Cash Cost of Polysilicon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageCashCostOfPolysilicon" xlink:to="label_dq_AverageCashCostOfPolysilicon_1" xlink:title="Label : dq_AverageCashCostOfPolysilicon to label_dq_AverageCashCostOfPolysilicon_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AverageCashCostOfPolysilicon_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AverageCashCostOfPolysilicon_2" xml:lang="en-US" id="label_dq_AverageCashCostOfPolysilicon_2">Average cash cost of polysilicon</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AverageCashCostOfPolysilicon" xlink:to="label_dq_AverageCashCostOfPolysilicon_2" xlink:title="Label : dq_AverageCashCostOfPolysilicon to label_dq_AverageCashCostOfPolysilicon_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DepositarySharesIssuedDuringPeriodShares" xlink:label="dq_DepositarySharesIssuedDuringPeriodShares" xlink:title="dq_DepositarySharesIssuedDuringPeriodShares" />
    <link:label xlink:type="resource" xlink:label="label_dq_DepositarySharesIssuedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DepositarySharesIssuedDuringPeriodShares" xml:lang="en-US" id="label_dq_DepositarySharesIssuedDuringPeriodShares">Number of depositary shares issued during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DepositarySharesIssuedDuringPeriodShares" xlink:to="label_dq_DepositarySharesIssuedDuringPeriodShares" xlink:title="Label : dq_DepositarySharesIssuedDuringPeriodShares to label_dq_DepositarySharesIssuedDuringPeriodShares" />
    <link:label xlink:type="resource" xlink:label="label_dq_DepositarySharesIssuedDuringPeriodShares_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DepositarySharesIssuedDuringPeriodShares_1" xml:lang="en-US" id="label_dq_DepositarySharesIssuedDuringPeriodShares_1">Depositary Shares Issued During Period, Shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DepositarySharesIssuedDuringPeriodShares" xlink:to="label_dq_DepositarySharesIssuedDuringPeriodShares_1" xlink:title="Label : dq_DepositarySharesIssuedDuringPeriodShares to label_dq_DepositarySharesIssuedDuringPeriodShares_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_DepositarySharesIssuedDuringPeriodShares_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_DepositarySharesIssuedDuringPeriodShares_2" xml:lang="en-US" id="label_dq_DepositarySharesIssuedDuringPeriodShares_2">America depositary shares (ADSs) issued, shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DepositarySharesIssuedDuringPeriodShares" xlink:to="label_dq_DepositarySharesIssuedDuringPeriodShares_2" xlink:title="Label : dq_DepositarySharesIssuedDuringPeriodShares to label_dq_DepositarySharesIssuedDuringPeriodShares_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ElectricityFeesMember" xlink:label="dq_ElectricityFeesMember" xlink:title="dq_ElectricityFeesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ElectricityFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ElectricityFeesMember" xml:lang="en-US" id="label_dq_ElectricityFeesMember">Electricity fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ElectricityFeesMember" xlink:to="label_dq_ElectricityFeesMember" xlink:title="Label : dq_ElectricityFeesMember to label_dq_ElectricityFeesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ElectricityFeesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ElectricityFeesMember_1" xml:lang="en-US" id="label_dq_ElectricityFeesMember_1">Electricity Fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ElectricityFeesMember" xlink:to="label_dq_ElectricityFeesMember_1" xlink:title="Label : dq_ElectricityFeesMember to label_dq_ElectricityFeesMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ElectricityFeesMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ElectricityFeesMember_2" xml:lang="en-US" id="label_dq_ElectricityFeesMember_2">Electricity fees [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ElectricityFeesMember" xlink:to="label_dq_ElectricityFeesMember_2" xlink:title="Label : dq_ElectricityFeesMember to label_dq_ElectricityFeesMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PropertyPlantAndEquipmentRelocated" xlink:label="dq_PropertyPlantAndEquipmentRelocated" xlink:title="dq_PropertyPlantAndEquipmentRelocated" />
    <link:label xlink:type="resource" xlink:label="label_dq_PropertyPlantAndEquipmentRelocated" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PropertyPlantAndEquipmentRelocated" xml:lang="en-US" id="label_dq_PropertyPlantAndEquipmentRelocated">Fair value portion of physical assets used in the normal conduct of business to produce goods and services and not intended for resale, that have been relocated.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PropertyPlantAndEquipmentRelocated" xlink:to="label_dq_PropertyPlantAndEquipmentRelocated" xlink:title="Label : dq_PropertyPlantAndEquipmentRelocated to label_dq_PropertyPlantAndEquipmentRelocated" />
    <link:label xlink:type="resource" xlink:label="label_dq_PropertyPlantAndEquipmentRelocated_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PropertyPlantAndEquipmentRelocated_1" xml:lang="en-US" id="label_dq_PropertyPlantAndEquipmentRelocated_1">Property, Plant, and Equipment, Relocated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PropertyPlantAndEquipmentRelocated" xlink:to="label_dq_PropertyPlantAndEquipmentRelocated_1" xlink:title="Label : dq_PropertyPlantAndEquipmentRelocated to label_dq_PropertyPlantAndEquipmentRelocated_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_PropertyPlantAndEquipmentRelocated_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_PropertyPlantAndEquipmentRelocated_2" xml:lang="en-US" id="label_dq_PropertyPlantAndEquipmentRelocated_2">Carrying value of assets relocated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PropertyPlantAndEquipmentRelocated" xlink:to="label_dq_PropertyPlantAndEquipmentRelocated_2" xlink:title="Label : dq_PropertyPlantAndEquipmentRelocated to label_dq_PropertyPlantAndEquipmentRelocated_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PropertyPlantAndEquipmentYetToBeRelocated" xlink:label="dq_PropertyPlantAndEquipmentYetToBeRelocated" xlink:title="dq_PropertyPlantAndEquipmentYetToBeRelocated" />
    <link:label xlink:type="resource" xlink:label="label_dq_PropertyPlantAndEquipmentYetToBeRelocated" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PropertyPlantAndEquipmentYetToBeRelocated" xml:lang="en-US" id="label_dq_PropertyPlantAndEquipmentYetToBeRelocated">Fair value portion of physical assets used in the normal conduct of business to produce goods and services and not intended for resale, that have yet to be relocated.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PropertyPlantAndEquipmentYetToBeRelocated" xlink:to="label_dq_PropertyPlantAndEquipmentYetToBeRelocated" xlink:title="Label : dq_PropertyPlantAndEquipmentYetToBeRelocated to label_dq_PropertyPlantAndEquipmentYetToBeRelocated" />
    <link:label xlink:type="resource" xlink:label="label_dq_PropertyPlantAndEquipmentYetToBeRelocated_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PropertyPlantAndEquipmentYetToBeRelocated_1" xml:lang="en-US" id="label_dq_PropertyPlantAndEquipmentYetToBeRelocated_1">Property, Plant, and Equipment, Yet To Be Relocated</link:label>
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    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_OptionsGrantedJanuary28Member" xlink:label="dq_OptionsGrantedJanuary28Member" xlink:title="dq_OptionsGrantedJanuary28Member" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedJanuary28Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_OptionsGrantedJanuary28Member" xml:lang="en-US" id="label_dq_OptionsGrantedJanuary28Member">Options Granted January 28, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedJanuary28Member" xlink:to="label_dq_OptionsGrantedJanuary28Member" xlink:title="Label : dq_OptionsGrantedJanuary28Member to label_dq_OptionsGrantedJanuary28Member" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedJanuary28Member_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_OptionsGrantedJanuary28Member_1" xml:lang="en-US" id="label_dq_OptionsGrantedJanuary28Member_1">Options Granted January 28 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedJanuary28Member" xlink:to="label_dq_OptionsGrantedJanuary28Member_1" xlink:title="Label : dq_OptionsGrantedJanuary28Member to label_dq_OptionsGrantedJanuary28Member_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_OptionsGrantedJanuary28Member_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_OptionsGrantedJanuary28Member_2" xml:lang="en-US" id="label_dq_OptionsGrantedJanuary28Member_2">Options Granted January 28, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_OptionsGrantedJanuary28Member" xlink:to="label_dq_OptionsGrantedJanuary28Member_2" xlink:title="Label : dq_OptionsGrantedJanuary28Member to label_dq_OptionsGrantedJanuary28Member_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_JiangsuDaqoMember" xlink:label="dq_JiangsuDaqoMember" xlink:title="dq_JiangsuDaqoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaqoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_JiangsuDaqoMember" xml:lang="en-US" id="label_dq_JiangsuDaqoMember">Jiangsu Daqo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaqoMember" xlink:to="label_dq_JiangsuDaqoMember" xlink:title="Label : dq_JiangsuDaqoMember to label_dq_JiangsuDaqoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaqoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_JiangsuDaqoMember_1" xml:lang="en-US" id="label_dq_JiangsuDaqoMember_1">Jiangsu Daqo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaqoMember" xlink:to="label_dq_JiangsuDaqoMember_1" xlink:title="Label : dq_JiangsuDaqoMember to label_dq_JiangsuDaqoMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NanjingDaqoBianyaqiMember" xlink:label="dq_NanjingDaqoBianyaqiMember" xlink:title="dq_NanjingDaqoBianyaqiMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingDaqoBianyaqiMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NanjingDaqoBianyaqiMember" xml:lang="en-US" id="label_dq_NanjingDaqoBianyaqiMember">Nanjing Daqo Bianyaqi Member.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingDaqoBianyaqiMember" xlink:to="label_dq_NanjingDaqoBianyaqiMember" xlink:title="Label : dq_NanjingDaqoBianyaqiMember to label_dq_NanjingDaqoBianyaqiMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingDaqoBianyaqiMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NanjingDaqoBianyaqiMember_1" xml:lang="en-US" id="label_dq_NanjingDaqoBianyaqiMember_1">Nanjing Daqo Bianyaqi [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingDaqoBianyaqiMember" xlink:to="label_dq_NanjingDaqoBianyaqiMember_1" xlink:title="Label : dq_NanjingDaqoBianyaqiMember to label_dq_NanjingDaqoBianyaqiMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ChongqingDaqoTailaiMember" xlink:label="dq_ChongqingDaqoTailaiMember" xlink:title="dq_ChongqingDaqoTailaiMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChongqingDaqoTailaiMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ChongqingDaqoTailaiMember" xml:lang="en-US" id="label_dq_ChongqingDaqoTailaiMember">Chongqing Daqo Tailai [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChongqingDaqoTailaiMember" xlink:to="label_dq_ChongqingDaqoTailaiMember" xlink:title="Label : dq_ChongqingDaqoTailaiMember to label_dq_ChongqingDaqoTailaiMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ChongqingDaqoTailaiMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ChongqingDaqoTailaiMember_1" xml:lang="en-US" id="label_dq_ChongqingDaqoTailaiMember_1">Chongqing Daqo Tailai [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ChongqingDaqoTailaiMember" xlink:to="label_dq_ChongqingDaqoTailaiMember_1" xlink:title="Label : dq_ChongqingDaqoTailaiMember to label_dq_ChongqingDaqoTailaiMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DaqoTransformerMember" xlink:label="dq_DaqoTransformerMember" xlink:title="dq_DaqoTransformerMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoTransformerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DaqoTransformerMember" xml:lang="en-US" id="label_dq_DaqoTransformerMember">Daqo Transformer [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoTransformerMember" xlink:to="label_dq_DaqoTransformerMember" xlink:title="Label : dq_DaqoTransformerMember to label_dq_DaqoTransformerMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoTransformerMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DaqoTransformerMember_1" xml:lang="en-US" id="label_dq_DaqoTransformerMember_1">Daqo Transformer [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoTransformerMember" xlink:to="label_dq_DaqoTransformerMember_1" xlink:title="Label : dq_DaqoTransformerMember to label_dq_DaqoTransformerMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NanjingDaqoElectricMember" xlink:label="dq_NanjingDaqoElectricMember" xlink:title="dq_NanjingDaqoElectricMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingDaqoElectricMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NanjingDaqoElectricMember" xml:lang="en-US" id="label_dq_NanjingDaqoElectricMember">Nanjing Daqo Electric [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingDaqoElectricMember" xlink:to="label_dq_NanjingDaqoElectricMember" xlink:title="Label : dq_NanjingDaqoElectricMember to label_dq_NanjingDaqoElectricMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingDaqoElectricMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NanjingDaqoElectricMember_1" xml:lang="en-US" id="label_dq_NanjingDaqoElectricMember_1">Nanjing Daqo Electric [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingDaqoElectricMember" xlink:to="label_dq_NanjingDaqoElectricMember_1" xlink:title="Label : dq_NanjingDaqoElectricMember to label_dq_NanjingDaqoElectricMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ShortTermCreditBorrowingsMember" xlink:label="dq_ShortTermCreditBorrowingsMember" xlink:title="dq_ShortTermCreditBorrowingsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShortTermCreditBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ShortTermCreditBorrowingsMember" xml:lang="en-US" id="label_dq_ShortTermCreditBorrowingsMember">Short-term Credit Borrowings [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShortTermCreditBorrowingsMember" xlink:to="label_dq_ShortTermCreditBorrowingsMember" xlink:title="Label : dq_ShortTermCreditBorrowingsMember to label_dq_ShortTermCreditBorrowingsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShortTermCreditBorrowingsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ShortTermCreditBorrowingsMember_1" xml:lang="en-US" id="label_dq_ShortTermCreditBorrowingsMember_1">Short-term Credit Borrowings [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShortTermCreditBorrowingsMember" xlink:to="label_dq_ShortTermCreditBorrowingsMember_1" xlink:title="Label : dq_ShortTermCreditBorrowingsMember to label_dq_ShortTermCreditBorrowingsMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_PinganBankMember" xlink:label="dq_PinganBankMember" xlink:title="dq_PinganBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PinganBankMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_PinganBankMember" xml:lang="en-US" id="label_dq_PinganBankMember">Pingan Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PinganBankMember" xlink:to="label_dq_PinganBankMember" xlink:title="Label : dq_PinganBankMember to label_dq_PinganBankMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_PinganBankMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_PinganBankMember_1" xml:lang="en-US" id="label_dq_PinganBankMember_1">Pingan Bank [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_PinganBankMember" xlink:to="label_dq_PinganBankMember_1" xlink:title="Label : dq_PinganBankMember to label_dq_PinganBankMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:title="dei_DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentFiscalYearFocus" xml:lang="en-US" id="label_dei_DocumentFiscalYearFocus">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="label_dei_DocumentFiscalYearFocus" xlink:title="Label : dei_DocumentFiscalYearFocus to label_dei_DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalYearFocus_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_DocumentFiscalYearFocus_1" xml:lang="en-US" id="label_dei_DocumentFiscalYearFocus_1">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="label_dei_DocumentFiscalYearFocus_1" xlink:title="Label : dei_DocumentFiscalYearFocus to label_dei_DocumentFiscalYearFocus_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" xlink:label="dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" xlink:title="dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" xml:lang="en-US" id="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember">Zhenjiang Klockner-Moeller Electrical Systems Co., Ltd</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" xlink:to="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" xlink:title="Label : dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember to label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember_1" xml:lang="en-US" id="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember_1">Zhenjiang Klockner-Moeller Electrical Systems Co., Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember" xlink:to="label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember_1" xlink:title="Label : dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember to label_dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:title="dei_DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentFiscalPeriodFocus" xml:lang="en-US" id="label_dei_DocumentFiscalPeriodFocus">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="label_dei_DocumentFiscalPeriodFocus" xlink:title="Label : dei_DocumentFiscalPeriodFocus to label_dei_DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalPeriodFocus_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_DocumentFiscalPeriodFocus_1" xml:lang="en-US" id="label_dei_DocumentFiscalPeriodFocus_1">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="label_dei_DocumentFiscalPeriodFocus_1" xlink:title="Label : dei_DocumentFiscalPeriodFocus to label_dei_DocumentFiscalPeriodFocus_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NanjingIntelligentApparatusCoLtdMember" xlink:label="dq_NanjingIntelligentApparatusCoLtdMember" xlink:title="dq_NanjingIntelligentApparatusCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingIntelligentApparatusCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NanjingIntelligentApparatusCoLtdMember" xml:lang="en-US" id="label_dq_NanjingIntelligentApparatusCoLtdMember">Nanjing Intelligent Apparatus Co., Ltd</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingIntelligentApparatusCoLtdMember" xlink:to="label_dq_NanjingIntelligentApparatusCoLtdMember" xlink:title="Label : dq_NanjingIntelligentApparatusCoLtdMember to label_dq_NanjingIntelligentApparatusCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingIntelligentApparatusCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NanjingIntelligentApparatusCoLtdMember_1" xml:lang="en-US" id="label_dq_NanjingIntelligentApparatusCoLtdMember_1">Nanjing Intelligent Apparatus Co., Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingIntelligentApparatusCoLtdMember" xlink:to="label_dq_NanjingIntelligentApparatusCoLtdMember_1" xlink:title="Label : dq_NanjingIntelligentApparatusCoLtdMember to label_dq_NanjingIntelligentApparatusCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NanjingIntelligentSoftwareCoLtdMember" xlink:label="dq_NanjingIntelligentSoftwareCoLtdMember" xlink:title="dq_NanjingIntelligentSoftwareCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingIntelligentSoftwareCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NanjingIntelligentSoftwareCoLtdMember" xml:lang="en-US" id="label_dq_NanjingIntelligentSoftwareCoLtdMember">Nanjing Intelligent Software Co., Ltd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingIntelligentSoftwareCoLtdMember" xlink:to="label_dq_NanjingIntelligentSoftwareCoLtdMember" xlink:title="Label : dq_NanjingIntelligentSoftwareCoLtdMember to label_dq_NanjingIntelligentSoftwareCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_NanjingIntelligentSoftwareCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NanjingIntelligentSoftwareCoLtdMember_1" xml:lang="en-US" id="label_dq_NanjingIntelligentSoftwareCoLtdMember_1">Nanjing Intelligent Software Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NanjingIntelligentSoftwareCoLtdMember" xlink:to="label_dq_NanjingIntelligentSoftwareCoLtdMember_1" xlink:title="Label : dq_NanjingIntelligentSoftwareCoLtdMember to label_dq_NanjingIntelligentSoftwareCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DaqoInvestmentCoLtdMember" xlink:label="dq_DaqoInvestmentCoLtdMember" xlink:title="dq_DaqoInvestmentCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoInvestmentCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DaqoInvestmentCoLtdMember" xml:lang="en-US" id="label_dq_DaqoInvestmentCoLtdMember">Daqo Investment Co., Ltd</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoInvestmentCoLtdMember" xlink:to="label_dq_DaqoInvestmentCoLtdMember" xlink:title="Label : dq_DaqoInvestmentCoLtdMember to label_dq_DaqoInvestmentCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_DaqoInvestmentCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DaqoInvestmentCoLtdMember_1" xml:lang="en-US" id="label_dq_DaqoInvestmentCoLtdMember_1">Daqo Investment Co., Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DaqoInvestmentCoLtdMember" xlink:to="label_dq_DaqoInvestmentCoLtdMember_1" xlink:title="Label : dq_DaqoInvestmentCoLtdMember to label_dq_DaqoInvestmentCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ShanghaiSailfarElectricTechnologyCoLtdMember" xlink:label="dq_ShanghaiSailfarElectricTechnologyCoLtdMember" xlink:title="dq_ShanghaiSailfarElectricTechnologyCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember" xml:lang="en-US" id="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember">Shanghai Sailfar Electric Technology Co., Ltd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShanghaiSailfarElectricTechnologyCoLtdMember" xlink:to="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember" xlink:title="Label : dq_ShanghaiSailfarElectricTechnologyCoLtdMember to label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember_1" xml:lang="en-US" id="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember_1">Shanghai Sailfar Electric Technology Co., Ltd. [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShanghaiSailfarElectricTechnologyCoLtdMember" xlink:to="label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember_1" xlink:title="Label : dq_ShanghaiSailfarElectricTechnologyCoLtdMember to label_dq_ShanghaiSailfarElectricTechnologyCoLtdMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_NumberOfBatchesAxis" xlink:label="dq_NumberOfBatchesAxis" xlink:title="dq_NumberOfBatchesAxis" />
    <link:label xlink:type="resource" xlink:label="label_dq_NumberOfBatchesAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_NumberOfBatchesAxis" xml:lang="en-US" id="label_dq_NumberOfBatchesAxis">Information by number of batches pertaining to equity-based compensation arrangements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NumberOfBatchesAxis" xlink:to="label_dq_NumberOfBatchesAxis" xlink:title="Label : dq_NumberOfBatchesAxis to label_dq_NumberOfBatchesAxis" />
    <link:label xlink:type="resource" xlink:label="label_dq_NumberOfBatchesAxis_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_NumberOfBatchesAxis_1" xml:lang="en-US" id="label_dq_NumberOfBatchesAxis_1">Number of Batches [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_NumberOfBatchesAxis" xlink:to="label_dq_NumberOfBatchesAxis_1" xlink:title="Label : dq_NumberOfBatchesAxis to label_dq_NumberOfBatchesAxis_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BatchesDomain" xlink:label="dq_BatchesDomain" xlink:title="dq_BatchesDomain" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchesDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BatchesDomain" xml:lang="en-US" id="label_dq_BatchesDomain">Number of batches for equity-based compensation arrangement plan.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchesDomain" xlink:to="label_dq_BatchesDomain" xlink:title="Label : dq_BatchesDomain to label_dq_BatchesDomain" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchesDomain_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BatchesDomain_1" xml:lang="en-US" id="label_dq_BatchesDomain_1">Batches [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchesDomain" xlink:to="label_dq_BatchesDomain_1" xlink:title="Label : dq_BatchesDomain to label_dq_BatchesDomain_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BatchOneMember" xlink:label="dq_BatchOneMember" xlink:title="dq_BatchOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BatchOneMember" xml:lang="en-US" id="label_dq_BatchOneMember">Represents information pertaining to batch, one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchOneMember" xlink:to="label_dq_BatchOneMember" xlink:title="Label : dq_BatchOneMember to label_dq_BatchOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BatchOneMember_1" xml:lang="en-US" id="label_dq_BatchOneMember_1">Batch One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchOneMember" xlink:to="label_dq_BatchOneMember_1" xlink:title="Label : dq_BatchOneMember to label_dq_BatchOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_BatchOneMember_2" xml:lang="en-US" id="label_dq_BatchOneMember_2">Batch one [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchOneMember" xlink:to="label_dq_BatchOneMember_2" xlink:title="Label : dq_BatchOneMember to label_dq_BatchOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BatchTwoMember" xlink:label="dq_BatchTwoMember" xlink:title="dq_BatchTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BatchTwoMember" xml:lang="en-US" id="label_dq_BatchTwoMember">Represents information pertaining to batch, two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchTwoMember" xlink:to="label_dq_BatchTwoMember" xlink:title="Label : dq_BatchTwoMember to label_dq_BatchTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BatchTwoMember_1" xml:lang="en-US" id="label_dq_BatchTwoMember_1">Batch Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchTwoMember" xlink:to="label_dq_BatchTwoMember_1" xlink:title="Label : dq_BatchTwoMember to label_dq_BatchTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_BatchTwoMember_2" xml:lang="en-US" id="label_dq_BatchTwoMember_2">Batch two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchTwoMember" xlink:to="label_dq_BatchTwoMember_2" xlink:title="Label : dq_BatchTwoMember to label_dq_BatchTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BatchThreeMember" xlink:label="dq_BatchThreeMember" xlink:title="dq_BatchThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BatchThreeMember" xml:lang="en-US" id="label_dq_BatchThreeMember">Represents information pertaining to batch, three.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchThreeMember" xlink:to="label_dq_BatchThreeMember" xlink:title="Label : dq_BatchThreeMember to label_dq_BatchThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BatchThreeMember_1" xml:lang="en-US" id="label_dq_BatchThreeMember_1">Batch Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchThreeMember" xlink:to="label_dq_BatchThreeMember_1" xlink:title="Label : dq_BatchThreeMember to label_dq_BatchThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_BatchThreeMember_2" xml:lang="en-US" id="label_dq_BatchThreeMember_2">Batch three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchThreeMember" xlink:to="label_dq_BatchThreeMember_2" xlink:title="Label : dq_BatchThreeMember to label_dq_BatchThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BatchFourMember" xlink:label="dq_BatchFourMember" xlink:title="dq_BatchFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BatchFourMember" xml:lang="en-US" id="label_dq_BatchFourMember">Represents information pertaining to batch, four.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchFourMember" xlink:to="label_dq_BatchFourMember" xlink:title="Label : dq_BatchFourMember to label_dq_BatchFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchFourMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BatchFourMember_1" xml:lang="en-US" id="label_dq_BatchFourMember_1">Batch Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchFourMember" xlink:to="label_dq_BatchFourMember_1" xlink:title="Label : dq_BatchFourMember to label_dq_BatchFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchFourMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_BatchFourMember_2" xml:lang="en-US" id="label_dq_BatchFourMember_2">Batch four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchFourMember" xlink:to="label_dq_BatchFourMember_2" xlink:title="Label : dq_BatchFourMember to label_dq_BatchFourMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_BatchFiveMember" xlink:label="dq_BatchFiveMember" xlink:title="dq_BatchFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_BatchFiveMember" xml:lang="en-US" id="label_dq_BatchFiveMember">Represents information pertaining to batch, five.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchFiveMember" xlink:to="label_dq_BatchFiveMember" xlink:title="Label : dq_BatchFiveMember to label_dq_BatchFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchFiveMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_BatchFiveMember_1" xml:lang="en-US" id="label_dq_BatchFiveMember_1">Batch Five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchFiveMember" xlink:to="label_dq_BatchFiveMember_1" xlink:title="Label : dq_BatchFiveMember to label_dq_BatchFiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_BatchFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_BatchFiveMember_2" xml:lang="en-US" id="label_dq_BatchFiveMember_2">Batch five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_BatchFiveMember" xlink:to="label_dq_BatchFiveMember_2" xlink:title="Label : dq_BatchFiveMember to label_dq_BatchFiveMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:title="dei_LegalEntityAxis" />
    <link:label xlink:type="resource" xlink:label="label_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_LegalEntityAxis" xml:lang="en-US" id="label_dei_LegalEntityAxis">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="label_dei_LegalEntityAxis" xlink:title="Label : dei_LegalEntityAxis to label_dei_LegalEntityAxis" />
    <link:label xlink:type="resource" xlink:label="label_dei_LegalEntityAxis_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_LegalEntityAxis_1" xml:lang="en-US" id="label_dei_LegalEntityAxis_1">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="label_dei_LegalEntityAxis_1" xlink:title="Label : dei_LegalEntityAxis to label_dei_LegalEntityAxis_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xlink:label="dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xlink:title="dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" />
    <link:label xlink:type="resource" xlink:label="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xml:lang="en-US" id="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated">Represents information pertaining to consecutive years in which net income and positive cash flow from operations generated.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xlink:to="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xlink:title="Label : dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated to label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" />
    <link:label xlink:type="resource" xlink:label="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_1" xml:lang="en-US" id="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_1">Consecutive Term in Which Net Income and Positive Cash Flow from Operations Generated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xlink:to="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_1" xlink:title="Label : dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated to label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_2" xml:lang="en-US" id="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_2">Consecutive years in which net income and positive cash flow from operations generated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated" xlink:to="label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_2" xlink:title="Label : dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated to label_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:title="dei_DocumentType" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentType" xml:lang="en-US" id="label_dei_DocumentType">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="label_dei_DocumentType" xlink:title="Label : dei_DocumentType to label_dei_DocumentType" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentType_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dei_DocumentType_1" xml:lang="en-US" id="label_dei_DocumentType_1">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="label_dei_DocumentType_1" xlink:title="Label : dei_DocumentType to label_dei_DocumentType_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AwardDateGrantedOneMember" xlink:label="dq_AwardDateGrantedOneMember" xlink:title="dq_AwardDateGrantedOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AwardDateGrantedOneMember" xml:lang="en-US" id="label_dq_AwardDateGrantedOneMember">Represents information pertaining to award granted, one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedOneMember" xlink:to="label_dq_AwardDateGrantedOneMember" xlink:title="Label : dq_AwardDateGrantedOneMember to label_dq_AwardDateGrantedOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AwardDateGrantedOneMember_1" xml:lang="en-US" id="label_dq_AwardDateGrantedOneMember_1">Award Date Granted One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedOneMember" xlink:to="label_dq_AwardDateGrantedOneMember_1" xlink:title="Label : dq_AwardDateGrantedOneMember to label_dq_AwardDateGrantedOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AwardDateGrantedOneMember_2" xml:lang="en-US" id="label_dq_AwardDateGrantedOneMember_2">January 28, 2014 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedOneMember" xlink:to="label_dq_AwardDateGrantedOneMember_2" xlink:title="Label : dq_AwardDateGrantedOneMember to label_dq_AwardDateGrantedOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AwardDateGrantedTwoMember" xlink:label="dq_AwardDateGrantedTwoMember" xlink:title="dq_AwardDateGrantedTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AwardDateGrantedTwoMember" xml:lang="en-US" id="label_dq_AwardDateGrantedTwoMember">Represents information pertaining to award granted, two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedTwoMember" xlink:to="label_dq_AwardDateGrantedTwoMember" xlink:title="Label : dq_AwardDateGrantedTwoMember to label_dq_AwardDateGrantedTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AwardDateGrantedTwoMember_1" xml:lang="en-US" id="label_dq_AwardDateGrantedTwoMember_1">Award Date Granted Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedTwoMember" xlink:to="label_dq_AwardDateGrantedTwoMember_1" xlink:title="Label : dq_AwardDateGrantedTwoMember to label_dq_AwardDateGrantedTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AwardDateGrantedTwoMember_2" xml:lang="en-US" id="label_dq_AwardDateGrantedTwoMember_2">January 12, 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedTwoMember" xlink:to="label_dq_AwardDateGrantedTwoMember_2" xlink:title="Label : dq_AwardDateGrantedTwoMember to label_dq_AwardDateGrantedTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AwardDateGrantedThreeMember" xlink:label="dq_AwardDateGrantedThreeMember" xlink:title="dq_AwardDateGrantedThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AwardDateGrantedThreeMember" xml:lang="en-US" id="label_dq_AwardDateGrantedThreeMember">Represents information pertaining to award granted, three.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedThreeMember" xlink:to="label_dq_AwardDateGrantedThreeMember" xlink:title="Label : dq_AwardDateGrantedThreeMember to label_dq_AwardDateGrantedThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AwardDateGrantedThreeMember_1" xml:lang="en-US" id="label_dq_AwardDateGrantedThreeMember_1">Award Date Granted Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedThreeMember" xlink:to="label_dq_AwardDateGrantedThreeMember_1" xlink:title="Label : dq_AwardDateGrantedThreeMember to label_dq_AwardDateGrantedThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AwardDateGrantedThreeMember_2" xml:lang="en-US" id="label_dq_AwardDateGrantedThreeMember_2">July 06, 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedThreeMember" xlink:to="label_dq_AwardDateGrantedThreeMember_2" xlink:title="Label : dq_AwardDateGrantedThreeMember to label_dq_AwardDateGrantedThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerOneMember" xlink:label="dq_CustomerOneMember" xlink:title="dq_CustomerOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerOneMember" xml:lang="en-US" id="label_dq_CustomerOneMember">Represents information pertaining to customer, one.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerOneMember" xlink:to="label_dq_CustomerOneMember" xlink:title="Label : dq_CustomerOneMember to label_dq_CustomerOneMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerOneMember_1" xml:lang="en-US" id="label_dq_CustomerOneMember_1">Customer One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerOneMember" xlink:to="label_dq_CustomerOneMember_1" xlink:title="Label : dq_CustomerOneMember to label_dq_CustomerOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerOneMember_2" xml:lang="en-US" id="label_dq_CustomerOneMember_2">Customer C [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerOneMember" xlink:to="label_dq_CustomerOneMember_2" xlink:title="Label : dq_CustomerOneMember to label_dq_CustomerOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AwardDateGrantedFourMember" xlink:label="dq_AwardDateGrantedFourMember" xlink:title="dq_AwardDateGrantedFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AwardDateGrantedFourMember" xml:lang="en-US" id="label_dq_AwardDateGrantedFourMember">Represents information pertaining to award granted, four.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedFourMember" xlink:to="label_dq_AwardDateGrantedFourMember" xlink:title="Label : dq_AwardDateGrantedFourMember to label_dq_AwardDateGrantedFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedFourMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AwardDateGrantedFourMember_1" xml:lang="en-US" id="label_dq_AwardDateGrantedFourMember_1">Award Date Granted Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedFourMember" xlink:to="label_dq_AwardDateGrantedFourMember_1" xlink:title="Label : dq_AwardDateGrantedFourMember to label_dq_AwardDateGrantedFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedFourMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AwardDateGrantedFourMember_2" xml:lang="en-US" id="label_dq_AwardDateGrantedFourMember_2">September 09, 2015 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedFourMember" xlink:to="label_dq_AwardDateGrantedFourMember_2" xlink:title="Label : dq_AwardDateGrantedFourMember to label_dq_AwardDateGrantedFourMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerTwoMember" xlink:label="dq_CustomerTwoMember" xlink:title="dq_CustomerTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerTwoMember" xml:lang="en-US" id="label_dq_CustomerTwoMember">Represents information pertaining to customer, two.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTwoMember" xlink:to="label_dq_CustomerTwoMember" xlink:title="Label : dq_CustomerTwoMember to label_dq_CustomerTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerTwoMember_1" xml:lang="en-US" id="label_dq_CustomerTwoMember_1">Customer Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTwoMember" xlink:to="label_dq_CustomerTwoMember_1" xlink:title="Label : dq_CustomerTwoMember to label_dq_CustomerTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerTwoMember_2" xml:lang="en-US" id="label_dq_CustomerTwoMember_2">Customer J [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTwoMember" xlink:to="label_dq_CustomerTwoMember_2" xlink:title="Label : dq_CustomerTwoMember to label_dq_CustomerTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerThreeMember" xlink:label="dq_CustomerThreeMember" xlink:title="dq_CustomerThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerThreeMember" xml:lang="en-US" id="label_dq_CustomerThreeMember">Represents information pertaining to customer, three.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerThreeMember" xlink:to="label_dq_CustomerThreeMember" xlink:title="Label : dq_CustomerThreeMember to label_dq_CustomerThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerThreeMember_1" xml:lang="en-US" id="label_dq_CustomerThreeMember_1">Customer Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerThreeMember" xlink:to="label_dq_CustomerThreeMember_1" xlink:title="Label : dq_CustomerThreeMember to label_dq_CustomerThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerThreeMember_2" xml:lang="en-US" id="label_dq_CustomerThreeMember_2">Customer M [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerThreeMember" xlink:to="label_dq_CustomerThreeMember_2" xlink:title="Label : dq_CustomerThreeMember to label_dq_CustomerThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerFourMember" xlink:label="dq_CustomerFourMember" xlink:title="dq_CustomerFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerFourMember" xml:lang="en-US" id="label_dq_CustomerFourMember">Represents information pertaining to customer, four.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerFourMember" xlink:to="label_dq_CustomerFourMember" xlink:title="Label : dq_CustomerFourMember to label_dq_CustomerFourMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerFourMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerFourMember_1" xml:lang="en-US" id="label_dq_CustomerFourMember_1">Customer Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerFourMember" xlink:to="label_dq_CustomerFourMember_1" xlink:title="Label : dq_CustomerFourMember to label_dq_CustomerFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerFourMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerFourMember_2" xml:lang="en-US" id="label_dq_CustomerFourMember_2">Customer H [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerFourMember" xlink:to="label_dq_CustomerFourMember_2" xlink:title="Label : dq_CustomerFourMember to label_dq_CustomerFourMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerFiveMember" xlink:label="dq_CustomerFiveMember" xlink:title="dq_CustomerFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerFiveMember" xml:lang="en-US" id="label_dq_CustomerFiveMember">Represents information pertaining to customer, five.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerFiveMember" xlink:to="label_dq_CustomerFiveMember" xlink:title="Label : dq_CustomerFiveMember to label_dq_CustomerFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerFiveMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerFiveMember_1" xml:lang="en-US" id="label_dq_CustomerFiveMember_1">Customer Five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerFiveMember" xlink:to="label_dq_CustomerFiveMember_1" xlink:title="Label : dq_CustomerFiveMember to label_dq_CustomerFiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerFiveMember_2" xml:lang="en-US" id="label_dq_CustomerFiveMember_2">Customer N [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerFiveMember" xlink:to="label_dq_CustomerFiveMember_2" xlink:title="Label : dq_CustomerFiveMember to label_dq_CustomerFiveMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerSixMember" xlink:label="dq_CustomerSixMember" xlink:title="dq_CustomerSixMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerSixMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerSixMember" xml:lang="en-US" id="label_dq_CustomerSixMember">Represents information pertaining to customer, six.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerSixMember" xlink:to="label_dq_CustomerSixMember" xlink:title="Label : dq_CustomerSixMember to label_dq_CustomerSixMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerSixMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerSixMember_1" xml:lang="en-US" id="label_dq_CustomerSixMember_1">Customer Six [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerSixMember" xlink:to="label_dq_CustomerSixMember_1" xlink:title="Label : dq_CustomerSixMember to label_dq_CustomerSixMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerSixMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerSixMember_2" xml:lang="en-US" id="label_dq_CustomerSixMember_2">Customer B [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerSixMember" xlink:to="label_dq_CustomerSixMember_2" xlink:title="Label : dq_CustomerSixMember to label_dq_CustomerSixMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AccumulatedImpairmentLoss" xlink:label="dq_AccumulatedImpairmentLoss" xlink:title="dq_AccumulatedImpairmentLoss" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccumulatedImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AccumulatedImpairmentLoss" xml:lang="en-US" id="label_dq_AccumulatedImpairmentLoss">Amount of accumulated impairment loss for an asset  as of balance-sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccumulatedImpairmentLoss" xlink:to="label_dq_AccumulatedImpairmentLoss" xlink:title="Label : dq_AccumulatedImpairmentLoss to label_dq_AccumulatedImpairmentLoss" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccumulatedImpairmentLoss_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AccumulatedImpairmentLoss_1" xml:lang="en-US" id="label_dq_AccumulatedImpairmentLoss_1">Accumulated Impairment Loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccumulatedImpairmentLoss" xlink:to="label_dq_AccumulatedImpairmentLoss_1" xlink:title="Label : dq_AccumulatedImpairmentLoss to label_dq_AccumulatedImpairmentLoss_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AccumulatedImpairmentLoss_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AccumulatedImpairmentLoss_2" xml:lang="en-US" id="label_dq_AccumulatedImpairmentLoss_2">Accumulated impairment loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AccumulatedImpairmentLoss" xlink:to="label_dq_AccumulatedImpairmentLoss_2" xlink:title="Label : dq_AccumulatedImpairmentLoss to label_dq_AccumulatedImpairmentLoss_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xlink:label="dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xlink:title="dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xml:lang="en-US" id="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember">Represents information pertaining to Jiangsu Daquan High Voltage Switchgear Co., Ltd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xlink:to="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xlink:title="Label : dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember to label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_1" xml:lang="en-US" id="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_1">Jiangsu Daquan High Voltage Switchgear Co Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xlink:to="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_1" xlink:title="Label : dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember to label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_2" xml:lang="en-US" id="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_2">Jiangsu Daquan High Voltage [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember" xlink:to="label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_2" xlink:title="Label : dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember to label_dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_JiangsuDaqoKaifanElectricCoLtdMember" xlink:label="dq_JiangsuDaqoKaifanElectricCoLtdMember" xlink:title="dq_JiangsuDaqoKaifanElectricCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaqoKaifanElectricCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_JiangsuDaqoKaifanElectricCoLtdMember" xml:lang="en-US" id="label_dq_JiangsuDaqoKaifanElectricCoLtdMember">Represents information pertaining to Jiangsu Daqo Kai-fan Electric Co., Ltd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaqoKaifanElectricCoLtdMember" xlink:to="label_dq_JiangsuDaqoKaifanElectricCoLtdMember" xlink:title="Label : dq_JiangsuDaqoKaifanElectricCoLtdMember to label_dq_JiangsuDaqoKaifanElectricCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_1" xml:lang="en-US" id="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_1">Jiangsu Daqo Kai-fan Electric Co Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaqoKaifanElectricCoLtdMember" xlink:to="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_1" xlink:title="Label : dq_JiangsuDaqoKaifanElectricCoLtdMember to label_dq_JiangsuDaqoKaifanElectricCoLtdMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_2" xml:lang="en-US" id="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_2">Jiangsu Daqo Kai-fan [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_JiangsuDaqoKaifanElectricCoLtdMember" xlink:to="label_dq_JiangsuDaqoKaifanElectricCoLtdMember_2" xlink:title="Label : dq_JiangsuDaqoKaifanElectricCoLtdMember to label_dq_JiangsuDaqoKaifanElectricCoLtdMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ZhenjiangElectricEquipmentCoLtdMember" xlink:label="dq_ZhenjiangElectricEquipmentCoLtdMember" xlink:title="dq_ZhenjiangElectricEquipmentCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ZhenjiangElectricEquipmentCoLtdMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ZhenjiangElectricEquipmentCoLtdMember" xml:lang="en-US" id="label_dq_ZhenjiangElectricEquipmentCoLtdMember">Represents information pertaining to Zhenjiang Electric Equipment Co., Ltd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ZhenjiangElectricEquipmentCoLtdMember" xlink:to="label_dq_ZhenjiangElectricEquipmentCoLtdMember" xlink:title="Label : dq_ZhenjiangElectricEquipmentCoLtdMember to label_dq_ZhenjiangElectricEquipmentCoLtdMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ZhenjiangElectricEquipmentCoLtdMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ZhenjiangElectricEquipmentCoLtdMember_1" xml:lang="en-US" id="label_dq_ZhenjiangElectricEquipmentCoLtdMember_1">Zhenjiang Electric Equipment Co Ltd [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ZhenjiangElectricEquipmentCoLtdMember" xlink:to="label_dq_ZhenjiangElectricEquipmentCoLtdMember_1" xlink:title="Label : dq_ZhenjiangElectricEquipmentCoLtdMember to label_dq_ZhenjiangElectricEquipmentCoLtdMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ZhenjiangElectricEquipmentCoLtdMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ZhenjiangElectricEquipmentCoLtdMember_2" xml:lang="en-US" id="label_dq_ZhenjiangElectricEquipmentCoLtdMember_2">Zhenjiang Electric [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ZhenjiangElectricEquipmentCoLtdMember" xlink:to="label_dq_ZhenjiangElectricEquipmentCoLtdMember_2" xlink:title="Label : dq_ZhenjiangElectricEquipmentCoLtdMember to label_dq_ZhenjiangElectricEquipmentCoLtdMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" xlink:label="dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" xlink:title="dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" xml:lang="en-US" id="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember">Represents information pertaining to short-term borrowing guaranteed by Daqo Group and related parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" xlink:to="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" xlink:title="Label : dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember to label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember_1" xml:lang="en-US" id="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember_1">Short Term Borrowing Guaranteed By Daqo Group And Related Parties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember" xlink:to="label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember_1" xlink:title="Label : dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember to label_dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember_1" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_IncomeLossFromDisposalOfFixedAssetsMember" xlink:label="dq_IncomeLossFromDisposalOfFixedAssetsMember" xlink:title="dq_IncomeLossFromDisposalOfFixedAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncomeLossFromDisposalOfFixedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_IncomeLossFromDisposalOfFixedAssetsMember" xml:lang="en-US" id="label_dq_IncomeLossFromDisposalOfFixedAssetsMember">Represents information pertaining to income from disposal of fixed assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncomeLossFromDisposalOfFixedAssetsMember" xlink:to="label_dq_IncomeLossFromDisposalOfFixedAssetsMember" xlink:title="Label : dq_IncomeLossFromDisposalOfFixedAssetsMember to label_dq_IncomeLossFromDisposalOfFixedAssetsMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_1" xml:lang="en-US" id="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_1">Income (Loss) from Disposal of Fixed Assets [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncomeLossFromDisposalOfFixedAssetsMember" xlink:to="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_1" xlink:title="Label : dq_IncomeLossFromDisposalOfFixedAssetsMember to label_dq_IncomeLossFromDisposalOfFixedAssetsMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_2" xml:lang="en-US" id="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_2">Income from disposal of fixed assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_IncomeLossFromDisposalOfFixedAssetsMember" xlink:to="label_dq_IncomeLossFromDisposalOfFixedAssetsMember_2" xlink:title="Label : dq_IncomeLossFromDisposalOfFixedAssetsMember to label_dq_IncomeLossFromDisposalOfFixedAssetsMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xlink:label="dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xlink:title="dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" />
    <link:label xlink:type="resource" xlink:label="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xml:lang="en-US" id="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix">Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the sixth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xlink:to="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xlink:title="Label : dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix to label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" />
    <link:label xlink:type="resource" xlink:label="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1" xml:lang="en-US" id="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1">Long Term Debt Maturities Repayments Of Principal In Year Six</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xlink:to="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1" xlink:title="Label : dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix to label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_2" xml:lang="en-US" id="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_2">2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix" xlink:to="label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_2" xlink:title="Label : dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix to label_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerSevenMember" xlink:label="dq_CustomerSevenMember" xlink:title="dq_CustomerSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerSevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerSevenMember" xml:lang="en-US" id="label_dq_CustomerSevenMember">Represents information pertaining to customer, seven.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerSevenMember" xlink:to="label_dq_CustomerSevenMember" xlink:title="Label : dq_CustomerSevenMember to label_dq_CustomerSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerSevenMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerSevenMember_1" xml:lang="en-US" id="label_dq_CustomerSevenMember_1">Customer Seven [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerSevenMember" xlink:to="label_dq_CustomerSevenMember_1" xlink:title="Label : dq_CustomerSevenMember to label_dq_CustomerSevenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerSevenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerSevenMember_2" xml:lang="en-US" id="label_dq_CustomerSevenMember_2">Customer E [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerSevenMember" xlink:to="label_dq_CustomerSevenMember_2" xlink:title="Label : dq_CustomerSevenMember to label_dq_CustomerSevenMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerEightMember" xlink:label="dq_CustomerEightMember" xlink:title="dq_CustomerEightMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerEightMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerEightMember" xml:lang="en-US" id="label_dq_CustomerEightMember">Represents information pertaining to customer, eight.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerEightMember" xlink:to="label_dq_CustomerEightMember" xlink:title="Label : dq_CustomerEightMember to label_dq_CustomerEightMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerEightMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerEightMember_1" xml:lang="en-US" id="label_dq_CustomerEightMember_1">Customer Eight [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerEightMember" xlink:to="label_dq_CustomerEightMember_1" xlink:title="Label : dq_CustomerEightMember to label_dq_CustomerEightMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerEightMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerEightMember_2" xml:lang="en-US" id="label_dq_CustomerEightMember_2">Customer F [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerEightMember" xlink:to="label_dq_CustomerEightMember_2" xlink:title="Label : dq_CustomerEightMember to label_dq_CustomerEightMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerNineMember" xlink:label="dq_CustomerNineMember" xlink:title="dq_CustomerNineMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerNineMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerNineMember" xml:lang="en-US" id="label_dq_CustomerNineMember">Represents information pertaining to customer, nine.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerNineMember" xlink:to="label_dq_CustomerNineMember" xlink:title="Label : dq_CustomerNineMember to label_dq_CustomerNineMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerNineMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerNineMember_1" xml:lang="en-US" id="label_dq_CustomerNineMember_1">Customer Nine [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerNineMember" xlink:to="label_dq_CustomerNineMember_1" xlink:title="Label : dq_CustomerNineMember to label_dq_CustomerNineMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerNineMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerNineMember_2" xml:lang="en-US" id="label_dq_CustomerNineMember_2">Customer I [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerNineMember" xlink:to="label_dq_CustomerNineMember_2" xlink:title="Label : dq_CustomerNineMember to label_dq_CustomerNineMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerTenMember" xlink:label="dq_CustomerTenMember" xlink:title="dq_CustomerTenMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerTenMember" xml:lang="en-US" id="label_dq_CustomerTenMember">Represents information pertaining to customer, ten.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTenMember" xlink:to="label_dq_CustomerTenMember" xlink:title="Label : dq_CustomerTenMember to label_dq_CustomerTenMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTenMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerTenMember_1" xml:lang="en-US" id="label_dq_CustomerTenMember_1">Customer Ten [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTenMember" xlink:to="label_dq_CustomerTenMember_1" xlink:title="Label : dq_CustomerTenMember to label_dq_CustomerTenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerTenMember_2" xml:lang="en-US" id="label_dq_CustomerTenMember_2">Customer L [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTenMember" xlink:to="label_dq_CustomerTenMember_2" xlink:title="Label : dq_CustomerTenMember to label_dq_CustomerTenMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerElevenMember" xlink:label="dq_CustomerElevenMember" xlink:title="dq_CustomerElevenMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerElevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerElevenMember" xml:lang="en-US" id="label_dq_CustomerElevenMember">Represents information pertaining to customer, eleven.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerElevenMember" xlink:to="label_dq_CustomerElevenMember" xlink:title="Label : dq_CustomerElevenMember to label_dq_CustomerElevenMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerElevenMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerElevenMember_1" xml:lang="en-US" id="label_dq_CustomerElevenMember_1">Customer Eleven [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerElevenMember" xlink:to="label_dq_CustomerElevenMember_1" xlink:title="Label : dq_CustomerElevenMember to label_dq_CustomerElevenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerElevenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerElevenMember_2" xml:lang="en-US" id="label_dq_CustomerElevenMember_2">Customer D [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerElevenMember" xlink:to="label_dq_CustomerElevenMember_2" xlink:title="Label : dq_CustomerElevenMember to label_dq_CustomerElevenMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_CustomerTwelveMember" xlink:label="dq_CustomerTwelveMember" xlink:title="dq_CustomerTwelveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTwelveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_CustomerTwelveMember" xml:lang="en-US" id="label_dq_CustomerTwelveMember">Represents information pertaining to customer, twelve.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTwelveMember" xlink:to="label_dq_CustomerTwelveMember" xlink:title="Label : dq_CustomerTwelveMember to label_dq_CustomerTwelveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTwelveMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_CustomerTwelveMember_1" xml:lang="en-US" id="label_dq_CustomerTwelveMember_1">Customer Twelve [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTwelveMember" xlink:to="label_dq_CustomerTwelveMember_1" xlink:title="Label : dq_CustomerTwelveMember to label_dq_CustomerTwelveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_CustomerTwelveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_CustomerTwelveMember_2" xml:lang="en-US" id="label_dq_CustomerTwelveMember_2">Customer K [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_CustomerTwelveMember" xlink:to="label_dq_CustomerTwelveMember_2" xlink:title="Label : dq_CustomerTwelveMember to label_dq_CustomerTwelveMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:title="us-gaap_AccountingPoliciesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US" id="label_us-gaap_AccountingPoliciesAbstract">SUMMARY OF PRINCIPAL ACCOUNTING POLICIES [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="label_us-gaap_AccountingPoliciesAbstract" xlink:title="Label : us-gaap_AccountingPoliciesAbstract to label_us-gaap_AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_ProvisionForReversalOfDoubtfulAccounts" xlink:label="dq_ProvisionForReversalOfDoubtfulAccounts" xlink:title="dq_ProvisionForReversalOfDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProvisionForReversalOfDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_ProvisionForReversalOfDoubtfulAccounts" xml:lang="en-US" id="label_dq_ProvisionForReversalOfDoubtfulAccounts">Amount of expense (income) related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProvisionForReversalOfDoubtfulAccounts" xlink:to="label_dq_ProvisionForReversalOfDoubtfulAccounts" xlink:title="Label : dq_ProvisionForReversalOfDoubtfulAccounts to label_dq_ProvisionForReversalOfDoubtfulAccounts" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProvisionForReversalOfDoubtfulAccounts_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_ProvisionForReversalOfDoubtfulAccounts_1" xml:lang="en-US" id="label_dq_ProvisionForReversalOfDoubtfulAccounts_1">Provision for Reversal of Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProvisionForReversalOfDoubtfulAccounts" xlink:to="label_dq_ProvisionForReversalOfDoubtfulAccounts_1" xlink:title="Label : dq_ProvisionForReversalOfDoubtfulAccounts to label_dq_ProvisionForReversalOfDoubtfulAccounts_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProvisionForReversalOfDoubtfulAccounts_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_ProvisionForReversalOfDoubtfulAccounts_2" xml:lang="en-US" id="label_dq_ProvisionForReversalOfDoubtfulAccounts_2">Allowance for doubtful accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProvisionForReversalOfDoubtfulAccounts" xlink:to="label_dq_ProvisionForReversalOfDoubtfulAccounts_2" xlink:title="Label : dq_ProvisionForReversalOfDoubtfulAccounts to label_dq_ProvisionForReversalOfDoubtfulAccounts_2" />
    <link:label xlink:type="resource" xlink:label="label_dq_ProvisionForReversalOfDoubtfulAccounts_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_dq_ProvisionForReversalOfDoubtfulAccounts_3" xml:lang="en-US" id="label_dq_ProvisionForReversalOfDoubtfulAccounts_3">Allowances (Reversal) during the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_ProvisionForReversalOfDoubtfulAccounts" xlink:to="label_dq_ProvisionForReversalOfDoubtfulAccounts_3" xlink:title="Label : dq_ProvisionForReversalOfDoubtfulAccounts to label_dq_ProvisionForReversalOfDoubtfulAccounts_3" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_DeferredTaxAssets" xlink:label="dq_DeferredTaxAssets" xlink:title="dq_DeferredTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_dq_DeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_DeferredTaxAssets" xml:lang="en-US" id="label_dq_DeferredTaxAssets">Represents the amount of deferred tax assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DeferredTaxAssets" xlink:to="label_dq_DeferredTaxAssets" xlink:title="Label : dq_DeferredTaxAssets to label_dq_DeferredTaxAssets" />
    <link:label xlink:type="resource" xlink:label="label_dq_DeferredTaxAssets_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_DeferredTaxAssets_1" xml:lang="en-US" id="label_dq_DeferredTaxAssets_1">Deferred Tax Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DeferredTaxAssets" xlink:to="label_dq_DeferredTaxAssets_1" xlink:title="Label : dq_DeferredTaxAssets to label_dq_DeferredTaxAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_DeferredTaxAssets_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_DeferredTaxAssets_2" xml:lang="en-US" id="label_dq_DeferredTaxAssets_2">Deferred tax assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_DeferredTaxAssets" xlink:to="label_dq_DeferredTaxAssets_2" xlink:title="Label : dq_DeferredTaxAssets to label_dq_DeferredTaxAssets_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_AwardDateGrantedFiveMember" xlink:label="dq_AwardDateGrantedFiveMember" xlink:title="dq_AwardDateGrantedFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_AwardDateGrantedFiveMember" xml:lang="en-US" id="label_dq_AwardDateGrantedFiveMember">Represents information pertaining to award granted, five.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedFiveMember" xlink:to="label_dq_AwardDateGrantedFiveMember" xlink:title="Label : dq_AwardDateGrantedFiveMember to label_dq_AwardDateGrantedFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedFiveMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_AwardDateGrantedFiveMember_1" xml:lang="en-US" id="label_dq_AwardDateGrantedFiveMember_1">Award Date Granted Five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedFiveMember" xlink:to="label_dq_AwardDateGrantedFiveMember_1" xlink:title="Label : dq_AwardDateGrantedFiveMember to label_dq_AwardDateGrantedFiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_AwardDateGrantedFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_AwardDateGrantedFiveMember_2" xml:lang="en-US" id="label_dq_AwardDateGrantedFiveMember_2">April 3, 2013 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_AwardDateGrantedFiveMember" xlink:to="label_dq_AwardDateGrantedFiveMember_2" xlink:title="Label : dq_AwardDateGrantedFiveMember to label_dq_AwardDateGrantedFiveMember_2" />
    <link:loc xlink:type="locator" xlink:href="dq-20151231.xsd#dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xlink:label="dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xlink:title="dq_EffectiveIncomeTaxRateReconciliationWithholdTax" />
    <link:label xlink:type="resource" xlink:label="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xml:lang="en-US" id="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax">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 withhold tax.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xlink:to="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xlink:title="Label : dq_EffectiveIncomeTaxRateReconciliationWithholdTax to label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax" />
    <link:label xlink:type="resource" xlink:label="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_1" xml:lang="en-US" id="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_1">Effective Income Tax Rate Reconciliation Withhold Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xlink:to="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_1" xlink:title="Label : dq_EffectiveIncomeTaxRateReconciliationWithholdTax to label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_1" />
    <link:label xlink:type="resource" xlink:label="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_2" xml:lang="en-US" id="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_2">Withhold tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dq_EffectiveIncomeTaxRateReconciliationWithholdTax" xlink:to="label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_2" xlink:title="Label : dq_EffectiveIncomeTaxRateReconciliationWithholdTax to label_dq_EffectiveIncomeTaxRateReconciliationWithholdTax_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableFairValueDisclosure" xlink:label="us-gaap_AccountsPayableFairValueDisclosure" xlink:title="us-gaap_AccountsPayableFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsPayableFairValueDisclosure" xml:lang="en-US" id="label_us-gaap_AccountsPayableFairValueDisclosure">Accounts Payable, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableFairValueDisclosure" xlink:to="label_us-gaap_AccountsPayableFairValueDisclosure" xlink:title="Label : us-gaap_AccountsPayableFairValueDisclosure to label_us-gaap_AccountsPayableFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableFairValueDisclosure_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_AccountsPayableFairValueDisclosure_1" xml:lang="en-US" id="label_us-gaap_AccountsPayableFairValueDisclosure_1">Payables for purchase of property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableFairValueDisclosure" xlink:to="label_us-gaap_AccountsPayableFairValueDisclosure_1" xlink:title="Label : us-gaap_AccountsPayableFairValueDisclosure to label_us-gaap_AccountsPayableFairValueDisclosure_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" xlink:title="us-gaap_AccountsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsPayableCurrent" xml:lang="en-US" id="label_us-gaap_AccountsPayableCurrent">Accounts Payable Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="label_us-gaap_AccountsPayableCurrent" xlink:title="Label : us-gaap_AccountsPayableCurrent to label_us-gaap_AccountsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccountsPayableCurrent_1" xml:lang="en-US" id="label_us-gaap_AccountsPayableCurrent_1">Accounts payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="label_us-gaap_AccountsPayableCurrent_1" xlink:title="Label : us-gaap_AccountsPayableCurrent to label_us-gaap_AccountsPayableCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:title="us-gaap_AccountsReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsReceivableNetCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US" id="label_us-gaap_AccountsReceivableNetCurrent">Accounts Receivable Net Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="label_us-gaap_AccountsReceivableNetCurrent" xlink:title="Label : us-gaap_AccountsReceivableNetCurrent to label_us-gaap_AccountsReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsReceivableNetCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccountsReceivableNetCurrent_1" xml:lang="en-US" id="label_us-gaap_AccountsReceivableNetCurrent_1">Accounts receivable, net of allowance for doubtful accounts of $3,189,110 and $1,087,465 as of December 31, 2014 and 2015</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="label_us-gaap_AccountsReceivableNetCurrent_1" xlink:title="Label : us-gaap_AccountsReceivableNetCurrent to label_us-gaap_AccountsReceivableNetCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsReceivableNetCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_AccountsReceivableNetCurrent_2" xml:lang="en-US" id="label_us-gaap_AccountsReceivableNetCurrent_2">Accounts receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="label_us-gaap_AccountsReceivableNetCurrent_2" xlink:title="Label : us-gaap_AccountsReceivableNetCurrent to label_us-gaap_AccountsReceivableNetCurrent_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:title="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:title="Label : us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock to label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1">ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" xlink:title="Label : us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock to label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:title="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xml:lang="en-US" id="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract">ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:to="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:title="Label : us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract to label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:label="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:title="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:to="label_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" xlink:title="Label : us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent to label_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdvancesOnInventoryPurchases" xlink:to="label_us-gaap_AdvancesOnInventoryPurchases_1" xlink:title="Label : us-gaap_AdvancesOnInventoryPurchases to label_us-gaap_AdvancesOnInventoryPurchases_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AffiliatedEntityMember" xlink:label="us-gaap_AffiliatedEntityMember" xlink:title="us-gaap_AffiliatedEntityMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AffiliatedEntityMember" xml:lang="en-US" id="label_us-gaap_AffiliatedEntityMember">Affiliated Entity [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AffiliatedEntityMember" xlink:to="label_us-gaap_AffiliatedEntityMember" xlink:title="Label : us-gaap_AffiliatedEntityMember to label_us-gaap_AffiliatedEntityMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AffiliatedEntityMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AffiliatedEntityMember_1" xml:lang="en-US" id="label_us-gaap_AffiliatedEntityMember_1">Related parties [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AffiliatedEntityMember" xlink:to="label_us-gaap_AffiliatedEntityMember_1" xlink:title="Label : us-gaap_AffiliatedEntityMember to label_us-gaap_AffiliatedEntityMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" xlink:title="us-gaap_AllocatedShareBasedCompensationExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AllocatedShareBasedCompensationExpense" xml:lang="en-US" id="label_us-gaap_AllocatedShareBasedCompensationExpense">Allocated Share-based Compensation Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="label_us-gaap_AllocatedShareBasedCompensationExpense" xlink:title="Label : us-gaap_AllocatedShareBasedCompensationExpense to label_us-gaap_AllocatedShareBasedCompensationExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllocatedShareBasedCompensationExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AllocatedShareBasedCompensationExpense_1" xml:lang="en-US" id="label_us-gaap_AllocatedShareBasedCompensationExpense_1">Share-based compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="label_us-gaap_AllocatedShareBasedCompensationExpense_1" xlink:title="Label : us-gaap_AllocatedShareBasedCompensationExpense to label_us-gaap_AllocatedShareBasedCompensationExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:title="us-gaap_AllowanceForDoubtfulAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivable" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivable">Allowance for Doubtful Accounts Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivable to label_us-gaap_AllowanceForDoubtfulAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_1" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_1">Closing balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_1" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivable to label_us-gaap_AllowanceForDoubtfulAccountsReceivable_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_2" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_2">Beginning of the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivable_2" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivable to label_us-gaap_AllowanceForDoubtfulAccountsReceivable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:title="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">Allowance For Doubtful Accounts Receivable Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent to label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_1" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_1">Accounts receivable, allowance for doubtful accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_1" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent to label_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:label="us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:title="us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xml:lang="en-US" id="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock">Allowance for Credit Losses on Financing Receivables [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:to="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:title="Label : us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock to label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_1" xml:lang="en-US" id="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_1">Schedule of Allowances for Accounts Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:to="label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_1" xlink:title="Label : us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock to label_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:title="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward">Allowance for Doubtful Accounts Receivable [Roll Forward]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward to label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_1" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_1">Analysis of allowances for accounts receivable is as follows:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_1" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward to label_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" xlink:title="us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries">Allowance for Doubtful Accounts Receivable, Recoveries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries to label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries_1" xml:lang="en-US" id="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries_1">Allowances reversed during the period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries" xlink:to="label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries_1" xlink:title="Label : us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries to label_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:title="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xml:lang="en-US" id="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:title="Label : us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount to label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_1" xml:lang="en-US" id="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_1">Outstanding employee options excluded from computation of diluted earnings per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_1" xlink:title="Label : us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount to label_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetReportingCurrencyDenominatedValue" xlink:label="us-gaap_AssetReportingCurrencyDenominatedValue" xlink:title="us-gaap_AssetReportingCurrencyDenominatedValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetReportingCurrencyDenominatedValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetReportingCurrencyDenominatedValue" xml:lang="en-US" id="label_us-gaap_AssetReportingCurrencyDenominatedValue">Asset, Reporting Currency Denominated, Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetReportingCurrencyDenominatedValue" xlink:to="label_us-gaap_AssetReportingCurrencyDenominatedValue" xlink:title="Label : us-gaap_AssetReportingCurrencyDenominatedValue to label_us-gaap_AssetReportingCurrencyDenominatedValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetReportingCurrencyDenominatedValue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AssetReportingCurrencyDenominatedValue_1" xml:lang="en-US" id="label_us-gaap_AssetReportingCurrencyDenominatedValue_1">Aggregate amount of cash and cash equivalents and restricted cash denominated in RMB</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetReportingCurrencyDenominatedValue" xlink:to="label_us-gaap_AssetReportingCurrencyDenominatedValue_1" xlink:title="Label : us-gaap_AssetReportingCurrencyDenominatedValue to label_us-gaap_AssetReportingCurrencyDenominatedValue_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges" xlink:title="us-gaap_AssetImpairmentCharges" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetImpairmentCharges" xml:lang="en-US" id="label_us-gaap_AssetImpairmentCharges">Asset Impairment Charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="label_us-gaap_AssetImpairmentCharges" xlink:title="Label : us-gaap_AssetImpairmentCharges to label_us-gaap_AssetImpairmentCharges" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetImpairmentCharges_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AssetImpairmentCharges_1" xml:lang="en-US" id="label_us-gaap_AssetImpairmentCharges_1">Long-lived asset impairment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="label_us-gaap_AssetImpairmentCharges_1" xlink:title="Label : us-gaap_AssetImpairmentCharges to label_us-gaap_AssetImpairmentCharges_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetImpairmentCharges_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_AssetImpairmentCharges_2" xml:lang="en-US" id="label_us-gaap_AssetImpairmentCharges_2">Long-lived assets impairment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="label_us-gaap_AssetImpairmentCharges_2" xlink:title="Label : us-gaap_AssetImpairmentCharges to label_us-gaap_AssetImpairmentCharges_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetImpairmentChargesAbstract" xlink:label="us-gaap_AssetImpairmentChargesAbstract" xlink:title="us-gaap_AssetImpairmentChargesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetImpairmentChargesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetImpairmentChargesAbstract" xml:lang="en-US" id="label_us-gaap_AssetImpairmentChargesAbstract">Asset Impairment Charges [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentChargesAbstract" xlink:to="label_us-gaap_AssetImpairmentChargesAbstract" xlink:title="Label : us-gaap_AssetImpairmentChargesAbstract to label_us-gaap_AssetImpairmentChargesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetImpairmentChargesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AssetImpairmentChargesAbstract_1" xml:lang="en-US" id="label_us-gaap_AssetImpairmentChargesAbstract_1">Impairment of long-lived assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentChargesAbstract" xlink:to="label_us-gaap_AssetImpairmentChargesAbstract_1" xlink:title="Label : us-gaap_AssetImpairmentChargesAbstract to label_us-gaap_AssetImpairmentChargesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" xlink:title="us-gaap_AssetsAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="label_us-gaap_AssetsAbstract" xlink:title="Label : us-gaap_AssetsAbstract to label_us-gaap_AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AssetsAbstract_1" xml:lang="en-US" id="label_us-gaap_AssetsAbstract_1">ASSETS:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="label_us-gaap_AssetsAbstract_1" xlink:title="Label : us-gaap_AssetsAbstract to label_us-gaap_AssetsAbstract_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetsFairValueDisclosure" xml:lang="en-US" id="label_us-gaap_AssetsFairValueDisclosure">Assets, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="label_us-gaap_AssetsFairValueDisclosure" xlink:title="Label : us-gaap_AssetsFairValueDisclosure to label_us-gaap_AssetsFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsFairValueDisclosure_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AssetsFairValueDisclosure_1" xml:lang="en-US" id="label_us-gaap_AssetsFairValueDisclosure_1">Asset - identified untransferrable relocation assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosure" xlink:to="label_us-gaap_AssetsFairValueDisclosure_1" xlink:title="Label : us-gaap_AssetsFairValueDisclosure to label_us-gaap_AssetsFairValueDisclosure_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xlink:title="us-gaap_Assets" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_Assets" xml:lang="en-US" id="label_us-gaap_Assets">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="label_us-gaap_Assets" xlink:title="Label : us-gaap_Assets to label_us-gaap_Assets" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Assets_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_Assets_1" xml:lang="en-US" id="label_us-gaap_Assets_1">Total Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="label_us-gaap_Assets_1" xlink:title="Label : us-gaap_Assets to label_us-gaap_Assets_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Assets_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_Assets_2" xml:lang="en-US" id="label_us-gaap_Assets_2">TOTAL ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="label_us-gaap_Assets_2" xlink:title="Label : us-gaap_Assets to label_us-gaap_Assets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" xlink:title="us-gaap_AssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetsCurrent" xml:lang="en-US" id="label_us-gaap_AssetsCurrent">Assets Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="label_us-gaap_AssetsCurrent" xlink:title="Label : us-gaap_AssetsCurrent to label_us-gaap_AssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsCurrent_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_AssetsCurrent_1" xml:lang="en-US" id="label_us-gaap_AssetsCurrent_1">Total current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="label_us-gaap_AssetsCurrent_1" xlink:title="Label : us-gaap_AssetsCurrent to label_us-gaap_AssetsCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract" xlink:title="us-gaap_AssetsCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsCurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetsCurrentAbstract" xml:lang="en-US" id="label_us-gaap_AssetsCurrentAbstract">Assets Current [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="label_us-gaap_AssetsCurrentAbstract" xlink:title="Label : us-gaap_AssetsCurrentAbstract to label_us-gaap_AssetsCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsCurrentAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AssetsCurrentAbstract_1" xml:lang="en-US" id="label_us-gaap_AssetsCurrentAbstract_1">Current assets:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="label_us-gaap_AssetsCurrentAbstract_1" xlink:title="Label : us-gaap_AssetsCurrentAbstract to label_us-gaap_AssetsCurrentAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsNet" xlink:label="us-gaap_AssetsNet" xlink:title="us-gaap_AssetsNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AssetsNet" xml:lang="en-US" id="label_us-gaap_AssetsNet">Assets, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNet" xlink:to="label_us-gaap_AssetsNet" xlink:title="Label : us-gaap_AssetsNet to label_us-gaap_AssetsNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AssetsNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AssetsNet_1" xml:lang="en-US" id="label_us-gaap_AssetsNet_1">Net assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNet" xlink:to="label_us-gaap_AssetsNet_1" xlink:title="Label : us-gaap_AssetsNet to label_us-gaap_AssetsNet_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BankAcceptancesExecutedAndOutstanding" xlink:label="us-gaap_BankAcceptancesExecutedAndOutstanding" xlink:title="us-gaap_BankAcceptancesExecutedAndOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BankAcceptancesExecutedAndOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_BankAcceptancesExecutedAndOutstanding" xml:lang="en-US" id="label_us-gaap_BankAcceptancesExecutedAndOutstanding">Bank Acceptances Executed and Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BankAcceptancesExecutedAndOutstanding" xlink:to="label_us-gaap_BankAcceptancesExecutedAndOutstanding" xlink:title="Label : us-gaap_BankAcceptancesExecutedAndOutstanding to label_us-gaap_BankAcceptancesExecutedAndOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BankAcceptancesExecutedAndOutstanding_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_BankAcceptancesExecutedAndOutstanding_1" xml:lang="en-US" id="label_us-gaap_BankAcceptancesExecutedAndOutstanding_1">Bank accepted note facilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BankAcceptancesExecutedAndOutstanding" xlink:to="label_us-gaap_BankAcceptancesExecutedAndOutstanding_1" xlink:title="Label : us-gaap_BankAcceptancesExecutedAndOutstanding to label_us-gaap_BankAcceptancesExecutedAndOutstanding_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:title="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xml:lang="en-US" id="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:title="Label : us-gaap_BasisOfAccountingPolicyPolicyTextBlock to label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_1">Basis of presentation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_1" xlink:title="Label : us-gaap_BasisOfAccountingPolicyPolicyTextBlock to label_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BuildingMember" xlink:label="us-gaap_BuildingMember" xlink:title="us-gaap_BuildingMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_BuildingMember" xml:lang="en-US" id="label_us-gaap_BuildingMember">Buildings and plant [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingMember" xlink:to="label_us-gaap_BuildingMember" xlink:title="Label : us-gaap_BuildingMember to label_us-gaap_BuildingMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:to="label_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:title="Label : us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired to label_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_1" xml:lang="en-US" id="label_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_1">Equity interest acquired (as a percent)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:to="label_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_1" xlink:title="Label : us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired to label_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_BusinessExitCosts1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_BusinessExitCosts1" xml:lang="en-US" id="label_us-gaap_BusinessExitCosts1">Business Exit Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessExitCosts1" xlink:to="label_us-gaap_BusinessExitCosts1" xlink:title="Label : us-gaap_BusinessExitCosts1 to label_us-gaap_BusinessExitCosts1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BusinessExitCosts1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_BusinessExitCosts1_1" xml:lang="en-US" id="label_us-gaap_BusinessExitCosts1_1">Relocation costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessExitCosts1" xlink:to="label_us-gaap_BusinessExitCosts1_1" xlink:title="Label : us-gaap_BusinessExitCosts1 to label_us-gaap_BusinessExitCosts1_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:title="us-gaap_BusinessAcquisitionAcquireeDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_BusinessAcquisitionAcquireeDomain" xml:lang="en-US" id="label_us-gaap_BusinessAcquisitionAcquireeDomain">Business Acquisition, Acquiree [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="label_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:title="Label : us-gaap_BusinessAcquisitionAcquireeDomain to label_us-gaap_BusinessAcquisitionAcquireeDomain" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="label_us-gaap_BusinessAcquisitionAxis" xlink:title="Label : us-gaap_BusinessAcquisitionAxis to label_us-gaap_BusinessAcquisitionAxis" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xml:lang="en-US" id="label_us-gaap_CapitalExpendituresIncurredButNotYetPaid">Capital Expenditures Incurred but Not yet Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:to="label_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:title="Label : us-gaap_CapitalExpendituresIncurredButNotYetPaid to label_us-gaap_CapitalExpendituresIncurredButNotYetPaid" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:to="label_us-gaap_CapitalExpendituresIncurredButNotYetPaid_1" xlink:title="Label : us-gaap_CapitalExpendituresIncurredButNotYetPaid to label_us-gaap_CapitalExpendituresIncurredButNotYetPaid_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:to="label_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:title="Label : us-gaap_CarryingReportedAmountFairValueDisclosureMember to label_us-gaap_CarryingReportedAmountFairValueDisclosureMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="label_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:title="Label : us-gaap_CashAndCashEquivalentsPolicyTextBlock to label_us-gaap_CashAndCashEquivalentsPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsPolicyTextBlock_1">Cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="label_us-gaap_CashAndCashEquivalentsPolicyTextBlock_1" xlink:title="Label : us-gaap_CashAndCashEquivalentsPolicyTextBlock to label_us-gaap_CashAndCashEquivalentsPolicyTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:title="us-gaap_CashAndCashEquivalentsAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue">Cash And Cash Equivalents At Carrying Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1">Cash and cash equivalents at the end of the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2">Cash and cash equivalents at the beginning of the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue_2" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3">Cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" xlink:title="Label : us-gaap_CashAndCashEquivalentsAtCarryingValue to label_us-gaap_CashAndCashEquivalentsAtCarryingValue_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:title="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:title="Label : us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy to label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_1" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_1">Restricted cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_1" xlink:title="Label : us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy to label_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:title="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">Cash And Cash Equivalents Period Increase Decrease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:title="Label : us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease to label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" xml:lang="en-US" id="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1">Net increase (decrease) in cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" xlink:title="Label : us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease to label_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashDivestedFromDeconsolidation" xlink:label="us-gaap_CashDivestedFromDeconsolidation" xlink:title="us-gaap_CashDivestedFromDeconsolidation" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashDivestedFromDeconsolidation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CashDivestedFromDeconsolidation" xml:lang="en-US" id="label_us-gaap_CashDivestedFromDeconsolidation">Cash Divested from Deconsolidation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashDivestedFromDeconsolidation" xlink:to="label_us-gaap_CashDivestedFromDeconsolidation" xlink:title="Label : us-gaap_CashDivestedFromDeconsolidation to label_us-gaap_CashDivestedFromDeconsolidation" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashDivestedFromDeconsolidation_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_CashDivestedFromDeconsolidation_1" xml:lang="en-US" id="label_us-gaap_CashDivestedFromDeconsolidation_1">Decrease in cash on deconsolidation of Daqo New Material</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashDivestedFromDeconsolidation" xlink:to="label_us-gaap_CashDivestedFromDeconsolidation_1" xlink:title="Label : us-gaap_CashDivestedFromDeconsolidation to label_us-gaap_CashDivestedFromDeconsolidation_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CashDivestedFromDeconsolidation_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_us-gaap_CashDivestedFromDeconsolidation_2" xml:lang="en-US" id="label_us-gaap_CashDivestedFromDeconsolidation_2">Less: cash and cash equivalents disposed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashDivestedFromDeconsolidation" xlink:to="label_us-gaap_CashDivestedFromDeconsolidation_2" xlink:title="Label : us-gaap_CashDivestedFromDeconsolidation to label_us-gaap_CashDivestedFromDeconsolidation_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ChangeInAccountingEstimateTypeDomain" xlink:label="us-gaap_ChangeInAccountingEstimateTypeDomain" xlink:title="us-gaap_ChangeInAccountingEstimateTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ChangeInAccountingEstimateTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ChangeInAccountingEstimateTypeDomain" xml:lang="en-US" id="label_us-gaap_ChangeInAccountingEstimateTypeDomain">Change in Accounting Estimate, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingEstimateTypeDomain" xlink:to="label_us-gaap_ChangeInAccountingEstimateTypeDomain" xlink:title="Label : us-gaap_ChangeInAccountingEstimateTypeDomain to label_us-gaap_ChangeInAccountingEstimateTypeDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ChangeInAccountingEstimateByTypeAxis" xlink:label="us-gaap_ChangeInAccountingEstimateByTypeAxis" xlink:title="us-gaap_ChangeInAccountingEstimateByTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ChangeInAccountingEstimateByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ChangeInAccountingEstimateByTypeAxis" xml:lang="en-US" id="label_us-gaap_ChangeInAccountingEstimateByTypeAxis">Change in Accounting Estimate by Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInAccountingEstimateByTypeAxis" xlink:to="label_us-gaap_ChangeInAccountingEstimateByTypeAxis" xlink:title="Label : us-gaap_ChangeInAccountingEstimateByTypeAxis to label_us-gaap_ChangeInAccountingEstimateByTypeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:title="us-gaap_ClassificationOfVariableInterestEntityDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ClassificationOfVariableInterestEntityDomain" xml:lang="en-US" id="label_us-gaap_ClassificationOfVariableInterestEntityDomain">Classification Of Variable Interest Entity [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:to="label_us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:title="Label : us-gaap_ClassificationOfVariableInterestEntityDomain to label_us-gaap_ClassificationOfVariableInterestEntityDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ClassificationOfVariableInterestEntityDomain_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ClassificationOfVariableInterestEntityDomain_1" xml:lang="en-US" id="label_us-gaap_ClassificationOfVariableInterestEntityDomain_1">Variable Interest Entity, Classification [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:to="label_us-gaap_ClassificationOfVariableInterestEntityDomain_1" xlink:title="Label : us-gaap_ClassificationOfVariableInterestEntityDomain to label_us-gaap_ClassificationOfVariableInterestEntityDomain_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" xlink:title="us-gaap_CommitmentsAndContingencies" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommitmentsAndContingencies" xml:lang="en-US" id="label_us-gaap_CommitmentsAndContingencies">Commitments And Contingencies</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsAndContingencies_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CommitmentsAndContingencies_1" xml:lang="en-US" id="label_us-gaap_CommitmentsAndContingencies_1">Commitments and contingencies (Note 17)</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsDisclosureTextBlock" xlink:label="us-gaap_CommitmentsDisclosureTextBlock" xlink:title="us-gaap_CommitmentsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommitmentsDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_CommitmentsDisclosureTextBlock">Commitments Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsDisclosureTextBlock" xlink:to="label_us-gaap_CommitmentsDisclosureTextBlock" xlink:title="Label : us-gaap_CommitmentsDisclosureTextBlock to label_us-gaap_CommitmentsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommitmentsDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CommitmentsDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_CommitmentsDisclosureTextBlock_1">COMMITMENTS AND CONTINGENCIES</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:title="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="label_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:title="Label : us-gaap_CommitmentsAndContingenciesDisclosureAbstract to label_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xlink:title="us-gaap_CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommonStockSharesIssued" xml:lang="en-US" id="label_us-gaap_CommonStockSharesIssued">Common Stock Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="label_us-gaap_CommonStockSharesIssued" xlink:title="Label : us-gaap_CommonStockSharesIssued to label_us-gaap_CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockSharesIssued_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CommonStockSharesIssued_1" xml:lang="en-US" id="label_us-gaap_CommonStockSharesIssued_1">Ordinary shares, shares issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="label_us-gaap_CommonStockSharesIssued_1" xlink:title="Label : us-gaap_CommonStockSharesIssued to label_us-gaap_CommonStockSharesIssued_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValueOutstanding" xlink:label="us-gaap_CommonStockValueOutstanding" xlink:title="us-gaap_CommonStockValueOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockValueOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommonStockValueOutstanding" xml:lang="en-US" id="label_us-gaap_CommonStockValueOutstanding">Common Stock, Value, Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValueOutstanding" xlink:to="label_us-gaap_CommonStockValueOutstanding" xlink:title="Label : us-gaap_CommonStockValueOutstanding to label_us-gaap_CommonStockValueOutstanding" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConcentrationRiskByBenchmarkAxis" xml:lang="en-US" id="label_us-gaap_ConcentrationRiskByBenchmarkAxis">Concentration Risk Benchmark [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="label_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:title="Label : us-gaap_ConcentrationRiskByBenchmarkAxis to label_us-gaap_ConcentrationRiskByBenchmarkAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:to="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:title="Label : us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock to label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_1">FINANCIAL STATEMENT SCHEDULE I</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:to="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_1" xlink:title="Label : us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock to label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CondensedFinancialStatementsCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CondensedFinancialStatementsCaptionsLineItems" xml:lang="en-US" id="label_us-gaap_CondensedFinancialStatementsCaptionsLineItems">Condensed Financial Statements, Captions [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialStatementsCaptionsLineItems" xlink:to="label_us-gaap_CondensedFinancialStatementsCaptionsLineItems" xlink:title="Label : us-gaap_CondensedFinancialStatementsCaptionsLineItems to label_us-gaap_CondensedFinancialStatementsCaptionsLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:title="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xml:lang="en-US" id="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract">FINANCIAL STATEMENT SCHEDULE I [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:to="label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" xlink:title="Label : us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract to label_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConsolidationPolicyTextBlock" xml:lang="en-US" id="label_us-gaap_ConsolidationPolicyTextBlock">Consolidation, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationPolicyTextBlock" xlink:to="label_us-gaap_ConsolidationPolicyTextBlock" xlink:title="Label : us-gaap_ConsolidationPolicyTextBlock to label_us-gaap_ConsolidationPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ConsolidationPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_ConsolidationPolicyTextBlock_1">Basis of consolidations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationPolicyTextBlock" xlink:to="label_us-gaap_ConsolidationPolicyTextBlock_1" xlink:title="Label : us-gaap_ConsolidationPolicyTextBlock to label_us-gaap_ConsolidationPolicyTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:label="us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:title="us-gaap_ConsolidationVariableInterestEntityPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConsolidationVariableInterestEntityPolicy" xml:lang="en-US" id="label_us-gaap_ConsolidationVariableInterestEntityPolicy">Consolidation, Variable Interest Entity, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:to="label_us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:title="Label : us-gaap_ConsolidationVariableInterestEntityPolicy to label_us-gaap_ConsolidationVariableInterestEntityPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationVariableInterestEntityPolicy_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ConsolidationVariableInterestEntityPolicy_1" xml:lang="en-US" id="label_us-gaap_ConsolidationVariableInterestEntityPolicy_1">Variable Interest Entity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationVariableInterestEntityPolicy" xlink:to="label_us-gaap_ConsolidationVariableInterestEntityPolicy_1" xlink:title="Label : us-gaap_ConsolidationVariableInterestEntityPolicy to label_us-gaap_ConsolidationVariableInterestEntityPolicy_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConsolidationItemsDomain" xlink:label="us-gaap_ConsolidationItemsDomain" xlink:title="us-gaap_ConsolidationItemsDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConsolidationItemsDomain" xml:lang="en-US" id="label_us-gaap_ConsolidationItemsDomain">Consolidation Items [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationItemsDomain" xlink:to="label_us-gaap_ConsolidationItemsDomain" xlink:title="Label : us-gaap_ConsolidationItemsDomain to label_us-gaap_ConsolidationItemsDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:label="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:title="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xml:lang="en-US" id="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy">Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:to="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:title="Label : us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy to label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_1" xml:lang="en-US" id="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_1">Noncontrolling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy" xlink:to="label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_1" xlink:title="Label : us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy to label_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConsolidationItemsAxis" xlink:label="us-gaap_ConsolidationItemsAxis" xlink:title="us-gaap_ConsolidationItemsAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConsolidationItemsAxis" xml:lang="en-US" id="label_us-gaap_ConsolidationItemsAxis">Consolidation Items [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationItemsAxis" xlink:to="label_us-gaap_ConsolidationItemsAxis" xlink:title="Label : us-gaap_ConsolidationItemsAxis to label_us-gaap_ConsolidationItemsAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:label="us-gaap_ConstructionInProgressMember" xlink:title="us-gaap_ConstructionInProgressMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConstructionInProgressMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConstructionInProgressMember" xml:lang="en-US" id="label_us-gaap_ConstructionInProgressMember">Construction in process [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionInProgressMember" xlink:to="label_us-gaap_ConstructionInProgressMember" xlink:title="Label : us-gaap_ConstructionInProgressMember to label_us-gaap_ConstructionInProgressMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:label="us-gaap_ConversionOfStockAmountConverted1" xlink:title="us-gaap_ConversionOfStockAmountConverted1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ConversionOfStockAmountConverted1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ConversionOfStockAmountConverted1" xml:lang="en-US" id="label_us-gaap_ConversionOfStockAmountConverted1">Conversion Of Stock Amount Converted 1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockAmountConverted1" xlink:to="label_us-gaap_ConversionOfStockAmountConverted1" xlink:title="Label : us-gaap_ConversionOfStockAmountConverted1 to label_us-gaap_ConversionOfStockAmountConverted1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfRevenueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CostOfRevenueAbstract" xml:lang="en-US" id="label_us-gaap_CostOfRevenueAbstract">Cost Of Revenue [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenueAbstract" xlink:to="label_us-gaap_CostOfRevenueAbstract" xlink:title="Label : us-gaap_CostOfRevenueAbstract to label_us-gaap_CostOfRevenueAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfRevenueAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CostOfRevenueAbstract_1" xml:lang="en-US" id="label_us-gaap_CostOfRevenueAbstract_1">Cost of revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenueAbstract" xlink:to="label_us-gaap_CostOfRevenueAbstract_1" xlink:title="Label : us-gaap_CostOfRevenueAbstract to label_us-gaap_CostOfRevenueAbstract_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CostOfRevenue" xml:lang="en-US" id="label_us-gaap_CostOfRevenue">Cost Of Revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenue" xlink:to="label_us-gaap_CostOfRevenue" xlink:title="Label : us-gaap_CostOfRevenue to label_us-gaap_CostOfRevenue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfRevenue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CostOfRevenue_1" xml:lang="en-US" id="label_us-gaap_CostOfRevenue_1">Cost of revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenue" xlink:to="label_us-gaap_CostOfRevenue_1" xlink:title="Label : us-gaap_CostOfRevenue to label_us-gaap_CostOfRevenue_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfRevenue_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CostOfRevenue_2" xml:lang="en-US" id="label_us-gaap_CostOfRevenue_2">Total Cost of revenue</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenue" xlink:to="label_us-gaap_CostOfRevenue_2" xlink:title="Label : us-gaap_CostOfRevenue to label_us-gaap_CostOfRevenue_2" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfRevenue_3" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_us-gaap_CostOfRevenue_3" xml:lang="en-US" id="label_us-gaap_CostOfRevenue_3">Total cost of revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenue" xlink:to="label_us-gaap_CostOfRevenue_3" xlink:title="Label : us-gaap_CostOfRevenue to label_us-gaap_CostOfRevenue_3" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfRevenue_4" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_us-gaap_CostOfRevenue_4" xml:lang="en-US" id="label_us-gaap_CostOfRevenue_4">Total cost of revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenue" xlink:to="label_us-gaap_CostOfRevenue_4" xlink:title="Label : us-gaap_CostOfRevenue to label_us-gaap_CostOfRevenue_4" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfSalesPolicyTextBlock" xlink:to="label_us-gaap_CostOfSalesPolicyTextBlock" xlink:title="Label : us-gaap_CostOfSalesPolicyTextBlock to label_us-gaap_CostOfSalesPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfSalesPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CostOfSalesPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_CostOfSalesPolicyTextBlock_1">Cost of revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfSalesPolicyTextBlock" xlink:to="label_us-gaap_CostOfSalesPolicyTextBlock_1" xlink:title="Label : us-gaap_CostOfSalesPolicyTextBlock to label_us-gaap_CostOfSalesPolicyTextBlock_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CostOfSalesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CostOfSalesMember" xml:lang="en-US" id="label_us-gaap_CostOfSalesMember">Cost of sales [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfSalesMember" xlink:to="label_us-gaap_CostOfSalesMember" xlink:title="Label : us-gaap_CostOfSalesMember to label_us-gaap_CostOfSalesMember" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CurrentIncomeTaxExpenseBenefit" xml:lang="en-US" id="label_us-gaap_CurrentIncomeTaxExpenseBenefit">Current Income Tax Expense (Benefit)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:to="label_us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:title="Label : us-gaap_CurrentIncomeTaxExpenseBenefit to label_us-gaap_CurrentIncomeTaxExpenseBenefit" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CurrentIncomeTaxExpenseBenefit_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CurrentIncomeTaxExpenseBenefit_1" xml:lang="en-US" id="label_us-gaap_CurrentIncomeTaxExpenseBenefit_1">Current Tax (Benefit) Expenses</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CustomerAdvancesCurrent" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesCurrent">Customer Advances Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesCurrent" xlink:to="label_us-gaap_CustomerAdvancesCurrent" xlink:title="Label : us-gaap_CustomerAdvancesCurrent to label_us-gaap_CustomerAdvancesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CustomerAdvancesCurrent_1" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesCurrent_1">Advances from customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesCurrent" xlink:to="label_us-gaap_CustomerAdvancesCurrent_1" xlink:title="Label : us-gaap_CustomerAdvancesCurrent to label_us-gaap_CustomerAdvancesCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CustomerAdvancesCurrent_2" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesCurrent_2">Less: Current portion of advances from customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesCurrent" xlink:to="label_us-gaap_CustomerAdvancesCurrent_2" xlink:title="Label : us-gaap_CustomerAdvancesCurrent to label_us-gaap_CustomerAdvancesCurrent_2" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesCurrent_3" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_CustomerAdvancesCurrent_3" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesCurrent_3">Less: Current portion of Advance from customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesCurrent" xlink:to="label_us-gaap_CustomerAdvancesCurrent_3" xlink:title="Label : us-gaap_CustomerAdvancesCurrent to label_us-gaap_CustomerAdvancesCurrent_3" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesAndDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CustomerAdvancesAndDeposits" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesAndDeposits">Customer Advances and Deposits</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesAndDeposits" xlink:to="label_us-gaap_CustomerAdvancesAndDeposits" xlink:title="Label : us-gaap_CustomerAdvancesAndDeposits to label_us-gaap_CustomerAdvancesAndDeposits" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesAndDeposits_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_CustomerAdvancesAndDeposits_1" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesAndDeposits_1">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesAndDeposits" xlink:to="label_us-gaap_CustomerAdvancesAndDeposits_1" xlink:title="Label : us-gaap_CustomerAdvancesAndDeposits to label_us-gaap_CustomerAdvancesAndDeposits_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CustomerAdvancesNoncurrent" xlink:label="us-gaap_CustomerAdvancesNoncurrent" xlink:title="us-gaap_CustomerAdvancesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CustomerAdvancesNoncurrent" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesNoncurrent">Customer Advances Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesNoncurrent" xlink:to="label_us-gaap_CustomerAdvancesNoncurrent" xlink:title="Label : us-gaap_CustomerAdvancesNoncurrent to label_us-gaap_CustomerAdvancesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_CustomerAdvancesNoncurrent_1" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesNoncurrent_1">Advances from customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesNoncurrent" xlink:to="label_us-gaap_CustomerAdvancesNoncurrent_1" xlink:title="Label : us-gaap_CustomerAdvancesNoncurrent to label_us-gaap_CustomerAdvancesNoncurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_CustomerAdvancesNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_CustomerAdvancesNoncurrent_2" xml:lang="en-US" id="label_us-gaap_CustomerAdvancesNoncurrent_2">Long term advances from customers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesNoncurrent" xlink:to="label_us-gaap_CustomerAdvancesNoncurrent_2" xlink:title="Label : us-gaap_CustomerAdvancesNoncurrent to label_us-gaap_CustomerAdvancesNoncurrent_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" xlink:title="us-gaap_DebtInstrumentLineItems" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentLineItems" xml:lang="en-US" id="label_us-gaap_DebtInstrumentLineItems">Debt Instrument [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="label_us-gaap_DebtInstrumentLineItems" xlink:title="Label : us-gaap_DebtInstrumentLineItems to label_us-gaap_DebtInstrumentLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm" xlink:title="us-gaap_DebtInstrumentTerm" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentTerm" xml:lang="en-US" id="label_us-gaap_DebtInstrumentTerm">Debt Instrument, Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="label_us-gaap_DebtInstrumentTerm" xlink:title="Label : us-gaap_DebtInstrumentTerm to label_us-gaap_DebtInstrumentTerm" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentTerm_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtInstrumentTerm_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentTerm_1">Term of facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="label_us-gaap_DebtInstrumentTerm_1" xlink:title="Label : us-gaap_DebtInstrumentTerm to label_us-gaap_DebtInstrumentTerm_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="us-gaap_DebtDisclosureAbstract" xlink:title="us-gaap_DebtDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtDisclosureAbstract" xml:lang="en-US" id="label_us-gaap_DebtDisclosureAbstract">BORROWINGS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureAbstract" xlink:to="label_us-gaap_DebtDisclosureAbstract" xlink:title="Label : us-gaap_DebtDisclosureAbstract to label_us-gaap_DebtDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" xlink:title="us-gaap_DebtInstrumentTable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentTable" xml:lang="en-US" id="label_us-gaap_DebtInstrumentTable">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="label_us-gaap_DebtInstrumentTable" xlink:title="Label : us-gaap_DebtInstrumentTable to label_us-gaap_DebtInstrumentTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:label="us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:title="us-gaap_DebtConversionConvertedInstrumentAmount1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtConversionConvertedInstrumentAmount1" xml:lang="en-US" id="label_us-gaap_DebtConversionConvertedInstrumentAmount1">Debt Conversion Converted Instrument Amount 1</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:to="label_us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:title="Label : us-gaap_DebtConversionConvertedInstrumentAmount1 to label_us-gaap_DebtConversionConvertedInstrumentAmount1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtConversionConvertedInstrumentAmount1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtConversionConvertedInstrumentAmount1_1" xml:lang="en-US" id="label_us-gaap_DebtConversionConvertedInstrumentAmount1_1">Daqo New Material's conversion of amount due to investor to owner's equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtConversionConvertedInstrumentAmount1" xlink:to="label_us-gaap_DebtConversionConvertedInstrumentAmount1_1" xlink:title="Label : us-gaap_DebtConversionConvertedInstrumentAmount1 to label_us-gaap_DebtConversionConvertedInstrumentAmount1_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:label="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:title="us-gaap_DebtLongtermAndShorttermCombinedAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtLongtermAndShorttermCombinedAmount" xml:lang="en-US" id="label_us-gaap_DebtLongtermAndShorttermCombinedAmount">Debt, Long-term and Short-term, Combined Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="label_us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:title="Label : us-gaap_DebtLongtermAndShorttermCombinedAmount to label_us-gaap_DebtLongtermAndShorttermCombinedAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtLongtermAndShorttermCombinedAmount_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_DebtLongtermAndShorttermCombinedAmount_1" xml:lang="en-US" id="label_us-gaap_DebtLongtermAndShorttermCombinedAmount_1">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtLongtermAndShorttermCombinedAmount" xlink:to="label_us-gaap_DebtLongtermAndShorttermCombinedAmount_1" xlink:title="Label : us-gaap_DebtLongtermAndShorttermCombinedAmount to label_us-gaap_DebtLongtermAndShorttermCombinedAmount_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:title="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:title="Label : us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 to label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_1" xml:lang="en-US" id="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_1">Interest rate spread over rate issued by People's Bank of China</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_1" xlink:title="Label : us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 to label_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" xlink:title="us-gaap_DebtInstrumentAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentAxis" xml:lang="en-US" id="label_us-gaap_DebtInstrumentAxis">Debt Instrument [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="label_us-gaap_DebtInstrumentAxis" xlink:title="Label : us-gaap_DebtInstrumentAxis to label_us-gaap_DebtInstrumentAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="us-gaap_DebtDisclosureTextBlock" xlink:title="us-gaap_DebtDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_DebtDisclosureTextBlock">Debt Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="label_us-gaap_DebtDisclosureTextBlock" xlink:title="Label : us-gaap_DebtDisclosureTextBlock to label_us-gaap_DebtDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DebtDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_DebtDisclosureTextBlock_1">BORROWINGS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="label_us-gaap_DebtDisclosureTextBlock_1" xlink:title="Label : us-gaap_DebtDisclosureTextBlock to label_us-gaap_DebtDisclosureTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCollateralAmount" xlink:label="us-gaap_DebtInstrumentCollateralAmount" xlink:title="us-gaap_DebtInstrumentCollateralAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DebtInstrumentCollateralAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DebtInstrumentCollateralAmount" xml:lang="en-US" id="label_us-gaap_DebtInstrumentCollateralAmount">Debt Instrument, Collateral Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentCollateralAmount" xlink:to="label_us-gaap_DebtInstrumentCollateralAmount" xlink:title="Label : us-gaap_DebtInstrumentCollateralAmount to label_us-gaap_DebtInstrumentCollateralAmount" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent" xlink:title="us-gaap_DeferredTaxAssetsNetCurrent" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="label_us-gaap_EquityComponentDomain_1" xlink:title="Label : us-gaap_EquityComponentDomain to label_us-gaap_EquityComponentDomain_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="label_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_1" xlink:title="Label : us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets to label_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_2" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:title="label_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_2" xml:lang="en-US" id="label_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_2">Prepaid expenses and other current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="label_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_2" xlink:title="Label : us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets to label_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:title="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:title="Label : us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements to label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_1" xml:lang="en-US" id="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_1">Plus: share options</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_2" xml:lang="en-US" id="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_2">Ordinary shares from options included in calculation of dilutive earnings per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_2" xlink:title="Label : us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements to label_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseRelatedParty" xlink:label="us-gaap_InterestExpenseRelatedParty" xlink:title="us-gaap_InterestExpenseRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpenseRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestExpenseRelatedParty" xml:lang="en-US" id="label_us-gaap_InterestExpenseRelatedParty">Interest Expense, Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseRelatedParty" xlink:to="label_us-gaap_InterestExpenseRelatedParty" xlink:title="Label : us-gaap_InterestExpenseRelatedParty to label_us-gaap_InterestExpenseRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpenseRelatedParty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InterestExpenseRelatedParty_1" xml:lang="en-US" id="label_us-gaap_InterestExpenseRelatedParty_1">Interest expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseRelatedParty" xlink:to="label_us-gaap_InterestExpenseRelatedParty_1" xlink:title="Label : us-gaap_InterestExpenseRelatedParty to label_us-gaap_InterestExpenseRelatedParty_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="us-gaap_InterestCostsCapitalized" xlink:title="us-gaap_InterestCostsCapitalized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestCostsCapitalized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestCostsCapitalized" xml:lang="en-US" id="label_us-gaap_InterestCostsCapitalized">Interest Costs Capitalized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="label_us-gaap_InterestCostsCapitalized" xlink:title="Label : us-gaap_InterestCostsCapitalized to label_us-gaap_InterestCostsCapitalized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestCostsCapitalized_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InterestCostsCapitalized_1" xml:lang="en-US" id="label_us-gaap_InterestCostsCapitalized_1">Interest expense capitalized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestCostsCapitalized" xlink:to="label_us-gaap_InterestCostsCapitalized_1" xlink:title="Label : us-gaap_InterestCostsCapitalized to label_us-gaap_InterestCostsCapitalized_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestExpense" xml:lang="en-US" id="label_us-gaap_InterestExpense">Interest Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="label_us-gaap_InterestExpense" xlink:title="Label : us-gaap_InterestExpense to label_us-gaap_InterestExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_InterestExpense_1" xml:lang="en-US" id="label_us-gaap_InterestExpense_1">Interest expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="label_us-gaap_InterestExpense_1" xlink:title="Label : us-gaap_InterestExpense to label_us-gaap_InterestExpense_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPayableCurrent" xlink:label="us-gaap_InterestPayableCurrent" xlink:title="us-gaap_InterestPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPayableCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestPayableCurrent" xml:lang="en-US" id="label_us-gaap_InterestPayableCurrent">Interest Payable, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrent" xlink:to="label_us-gaap_InterestPayableCurrent" xlink:title="Label : us-gaap_InterestPayableCurrent to label_us-gaap_InterestPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPayableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InterestPayableCurrent_1" xml:lang="en-US" id="label_us-gaap_InterestPayableCurrent_1">Interest payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrent" xlink:to="label_us-gaap_InterestPayableCurrent_1" xlink:title="Label : us-gaap_InterestPayableCurrent to label_us-gaap_InterestPayableCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid" xlink:title="us-gaap_InterestPaid" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestPaid" xml:lang="en-US" id="label_us-gaap_InterestPaid">Interest Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="label_us-gaap_InterestPaid" xlink:title="Label : us-gaap_InterestPaid to label_us-gaap_InterestPaid" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaid_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InterestPaid_1" xml:lang="en-US" id="label_us-gaap_InterestPaid_1">Interest paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="label_us-gaap_InterestPaid_1" xlink:title="Label : us-gaap_InterestPaid to label_us-gaap_InterestPaid_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaid_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_InterestPaid_2" xml:lang="en-US" id="label_us-gaap_InterestPaid_2">Interest paid, net of capitalized interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="label_us-gaap_InterestPaid_2" xlink:title="Label : us-gaap_InterestPaid to label_us-gaap_InterestPaid_2" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_InventoryPolicyTextBlock_1">Inventories</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryFinishedGoods" xlink:to="label_us-gaap_InventoryFinishedGoods" xlink:title="Label : us-gaap_InventoryFinishedGoods to label_us-gaap_InventoryFinishedGoods" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryFinishedGoods_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryFinishedGoods_1" xml:lang="en-US" id="label_us-gaap_InventoryFinishedGoods_1">Finished goods</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_InventoryDisclosureTextBlock_1">INVENTORIES</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryNet_1" xml:lang="en-US" id="label_us-gaap_InventoryNet_1">Inventories</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryAdjustmentsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryAdjustmentsAbstract_1" xml:lang="en-US" id="label_us-gaap_InventoryAdjustmentsAbstract_1">Inventories</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract" xlink:to="label_us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_1" xlink:title="Label : us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract to label_us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:to="label_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:title="Label : us-gaap_LongtermDebtWeightedAverageInterestRate to label_us-gaap_LongtermDebtWeightedAverageInterestRate" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="label_us-gaap_LiabilitiesCurrent" xlink:title="Label : us-gaap_LiabilitiesCurrent to label_us-gaap_LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_LiabilitiesCurrent_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrent_1">Total current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="label_us-gaap_LiabilitiesCurrent_1" xlink:title="Label : us-gaap_LiabilitiesCurrent to label_us-gaap_LiabilitiesCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:title="us-gaap_LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesCurrentAbstract" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrentAbstract">Liabilities Current [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="label_us-gaap_LiabilitiesCurrentAbstract" xlink:title="Label : us-gaap_LiabilitiesCurrentAbstract to label_us-gaap_LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrentAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LiabilitiesCurrentAbstract_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrentAbstract_1">Current liabilities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="label_us-gaap_LiabilitiesCurrentAbstract_1" xlink:title="Label : us-gaap_LiabilitiesCurrentAbstract to label_us-gaap_LiabilitiesCurrentAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" xlink:title="us-gaap_Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_Liabilities" xml:lang="en-US" id="label_us-gaap_Liabilities">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="label_us-gaap_Liabilities" xlink:title="Label : us-gaap_Liabilities to label_us-gaap_Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Liabilities_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_Liabilities_1" xml:lang="en-US" id="label_us-gaap_Liabilities_1">Total Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="label_us-gaap_Liabilities_1" xlink:title="Label : us-gaap_Liabilities to label_us-gaap_Liabilities_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Liabilities_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_Liabilities_2" xml:lang="en-US" id="label_us-gaap_Liabilities_2">Total liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="label_us-gaap_Liabilities_2" xlink:title="Label : us-gaap_Liabilities to label_us-gaap_Liabilities_2" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract">Liabilities And Stockholders Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquityAbstract to label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1">LIABILITIES:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquityAbstract to label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_2" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_2">LIABILITIES AND SHAREHOLDERS EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_2" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquityAbstract to label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquity">Liabilities And Stockholders Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquity" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquity to label_us-gaap_LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquity_1">TOTAL LIABILITIES AND EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquity to label_us-gaap_LiabilitiesAndStockholdersEquity_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityAxis" xlink:to="label_us-gaap_LineOfCreditFacilityAxis" xlink:title="Label : us-gaap_LineOfCreditFacilityAxis to label_us-gaap_LineOfCreditFacilityAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:label="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:title="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xml:lang="en-US" id="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod">Line of Credit Facility, Maximum Amount Outstanding During Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:to="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:title="Label : us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod to label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_1" xml:lang="en-US" id="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_1">Amount drawn down</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod" xlink:to="label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_1" xlink:title="Label : us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod to label_us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US" id="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="Label : us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity to label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1" xml:lang="en-US" id="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1">Maximum borrowing amount of credit facility</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1" xlink:title="Label : us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity to label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_2" xml:lang="en-US" id="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_2">Maximum borrowing capacity of credit line</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_2" xlink:title="Label : us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity to label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="us-gaap_LineOfCreditFacilityLenderDomain" xlink:title="us-gaap_LineOfCreditFacilityLenderDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCreditFacilityLenderDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LineOfCreditFacilityLenderDomain" xml:lang="en-US" id="label_us-gaap_LineOfCreditFacilityLenderDomain">Line of Credit Facility, Lender [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="label_us-gaap_LineOfCreditFacilityLenderDomain" xlink:title="Label : us-gaap_LineOfCreditFacilityLenderDomain to label_us-gaap_LineOfCreditFacilityLenderDomain" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditMember" xlink:to="label_us-gaap_LineOfCreditMember" xlink:title="Label : us-gaap_LineOfCreditMember to label_us-gaap_LineOfCreditMember" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongTermDebt" xml:lang="en-US" id="label_us-gaap_LongTermDebt">Long-term Debt</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebt_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LongTermDebt_1" xml:lang="en-US" id="label_us-gaap_LongTermDebt_1">Long-term bank borrowings</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebt_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_LongTermDebt_2" xml:lang="en-US" id="label_us-gaap_LongTermDebt_2">Total</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour">Long-term Debt, Maturities, Repayments of Principal in Year Four</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:title="Label : us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour to label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_1">2019</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">Long-term Debt, Maturities, Repayments of Principal in Year Five</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">Long-term Debt, Maturities, Repayments of Principal in Year Three</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LongTermDebtCurrent_1" xml:lang="en-US" id="label_us-gaap_LongTermDebtCurrent_1">Current portion of long-term debt</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LongTermDebtCurrent_2" xml:lang="en-US" id="label_us-gaap_LongTermDebtCurrent_2">Long-term bank borrowings, current portion</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths">Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:title="Label : us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths to label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_1" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_1">2016</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:title="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">Long-term Debt, Maturities, Repayments of Principal in Year Two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:title="Label : us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo to label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_1" xml:lang="en-US" id="label_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_1">2017</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyAccrualAtCarryingValue" xlink:to="label_us-gaap_LossContingencyAccrualAtCarryingValue_1" xlink:title="Label : us-gaap_LossContingencyAccrualAtCarryingValue to label_us-gaap_LossContingencyAccrualAtCarryingValue_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LossContingencyAccrualAtCarryingValue_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LossContingencyAccrualAtCarryingValue_2" xml:lang="en-US" id="label_us-gaap_LossContingencyAccrualAtCarryingValue_2">Contingent liability (Note 17)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyAccrualAtCarryingValue" xlink:to="label_us-gaap_LossContingencyAccrualAtCarryingValue_2" xlink:title="Label : us-gaap_LossContingencyAccrualAtCarryingValue to label_us-gaap_LossContingencyAccrualAtCarryingValue_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" xlink:label="us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" xlink:title="us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" xml:lang="en-US" id="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract">Loss Contingency, Information about Litigation Matters [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" xlink:to="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" xlink:title="Label : us-gaap_LossContingencyInformationAboutLitigationMattersAbstract to label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract_1" xml:lang="en-US" id="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract_1">Legal Matter</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyInformationAboutLitigationMattersAbstract" xlink:to="label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract_1" xlink:title="Label : us-gaap_LossContingencyInformationAboutLitigationMattersAbstract to label_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossContingencyDamagesSoughtValue" xlink:label="us-gaap_LossContingencyDamagesSoughtValue" xlink:title="us-gaap_LossContingencyDamagesSoughtValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LossContingencyDamagesSoughtValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LossContingencyDamagesSoughtValue" xml:lang="en-US" id="label_us-gaap_LossContingencyDamagesSoughtValue">Loss Contingency, Damages Sought, Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyDamagesSoughtValue" xlink:to="label_us-gaap_LossContingencyDamagesSoughtValue" xlink:title="Label : us-gaap_LossContingencyDamagesSoughtValue to label_us-gaap_LossContingencyDamagesSoughtValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LossContingencyDamagesSoughtValue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LossContingencyDamagesSoughtValue_1" xml:lang="en-US" id="label_us-gaap_LossContingencyDamagesSoughtValue_1">Damages claimed for breach of contract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyDamagesSoughtValue" xlink:to="label_us-gaap_LossContingencyDamagesSoughtValue_1" xlink:title="Label : us-gaap_LossContingencyDamagesSoughtValue to label_us-gaap_LossContingencyDamagesSoughtValue_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LossContingencyAccrualCarryingValueCurrent" xlink:label="us-gaap_LossContingencyAccrualCarryingValueCurrent" xlink:title="us-gaap_LossContingencyAccrualCarryingValueCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LossContingencyAccrualCarryingValueCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LossContingencyAccrualCarryingValueCurrent" xml:lang="en-US" id="label_us-gaap_LossContingencyAccrualCarryingValueCurrent">Loss Contingency, Accrual, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyAccrualCarryingValueCurrent" xlink:to="label_us-gaap_LossContingencyAccrualCarryingValueCurrent" xlink:title="Label : us-gaap_LossContingencyAccrualCarryingValueCurrent to label_us-gaap_LossContingencyAccrualCarryingValueCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LossContingencyAccrualCarryingValueCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LossContingencyAccrualCarryingValueCurrent_1" xml:lang="en-US" id="label_us-gaap_LossContingencyAccrualCarryingValueCurrent_1">Contingent liability accrued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyAccrualCarryingValueCurrent" xlink:to="label_us-gaap_LossContingencyAccrualCarryingValueCurrent_1" xlink:title="Label : us-gaap_LossContingencyAccrualCarryingValueCurrent to label_us-gaap_LossContingencyAccrualCarryingValueCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:label="us-gaap_MachineryAndEquipmentMember" xlink:title="us-gaap_MachineryAndEquipmentMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MachineryAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MachineryAndEquipmentMember" xml:lang="en-US" id="label_us-gaap_MachineryAndEquipmentMember">Machinery and equipment [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MachineryAndEquipmentMember" xlink:to="label_us-gaap_MachineryAndEquipmentMember" xlink:title="Label : us-gaap_MachineryAndEquipmentMember to label_us-gaap_MachineryAndEquipmentMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MajorCustomersAxis" xlink:label="us-gaap_MajorCustomersAxis" xlink:title="us-gaap_MajorCustomersAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MajorCustomersAxis" xml:lang="en-US" id="label_us-gaap_MajorCustomersAxis">Major Customers [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorCustomersAxis" xlink:to="label_us-gaap_MajorCustomersAxis" xlink:title="Label : us-gaap_MajorCustomersAxis to label_us-gaap_MajorCustomersAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" xlink:title="us-gaap_MaximumMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MaximumMember" xml:lang="en-US" id="label_us-gaap_MaximumMember">Maximum [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="label_us-gaap_MaximumMember" xlink:title="Label : us-gaap_MaximumMember to label_us-gaap_MaximumMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" xlink:title="us-gaap_MinimumMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MinimumMember" xml:lang="en-US" id="label_us-gaap_MinimumMember">Minimum [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="label_us-gaap_MinimumMember" xlink:title="Label : us-gaap_MinimumMember to label_us-gaap_MinimumMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:title="us-gaap_MinorityInterestOwnershipPercentageByParent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MinorityInterestOwnershipPercentageByParent" xml:lang="en-US" id="label_us-gaap_MinorityInterestOwnershipPercentageByParent">Noncontrolling Interest, Ownership Percentage by Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="label_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:title="Label : us-gaap_MinorityInterestOwnershipPercentageByParent to label_us-gaap_MinorityInterestOwnershipPercentageByParent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestOwnershipPercentageByParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_MinorityInterestOwnershipPercentageByParent_1" xml:lang="en-US" id="label_us-gaap_MinorityInterestOwnershipPercentageByParent_1">Equity interest held</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="label_us-gaap_MinorityInterestOwnershipPercentageByParent_1" xlink:title="Label : us-gaap_MinorityInterestOwnershipPercentageByParent to label_us-gaap_MinorityInterestOwnershipPercentageByParent_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestOwnershipPercentageByParent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_MinorityInterestOwnershipPercentageByParent_2" xml:lang="en-US" id="label_us-gaap_MinorityInterestOwnershipPercentageByParent_2">Ownership percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="label_us-gaap_MinorityInterestOwnershipPercentageByParent_2" xlink:title="Label : us-gaap_MinorityInterestOwnershipPercentageByParent to label_us-gaap_MinorityInterestOwnershipPercentageByParent_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest" xlink:title="us-gaap_MinorityInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MinorityInterest" xml:lang="en-US" id="label_us-gaap_MinorityInterest">Minority Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterest" xlink:to="label_us-gaap_MinorityInterest" xlink:title="Label : us-gaap_MinorityInterest to label_us-gaap_MinorityInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterest_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_MinorityInterest_1" xml:lang="en-US" id="label_us-gaap_MinorityInterest_1">Noncontrolling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterest" xlink:to="label_us-gaap_MinorityInterest_1" xlink:title="Label : us-gaap_MinorityInterest to label_us-gaap_MinorityInterest_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NameOfMajorCustomerDomain" xlink:label="us-gaap_NameOfMajorCustomerDomain" xlink:title="us-gaap_NameOfMajorCustomerDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NameOfMajorCustomerDomain" xml:lang="en-US" id="label_us-gaap_NameOfMajorCustomerDomain">Name of Major Customer [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NameOfMajorCustomerDomain" xlink:to="label_us-gaap_NameOfMajorCustomerDomain" xlink:title="Label : us-gaap_NameOfMajorCustomerDomain to label_us-gaap_NameOfMajorCustomerDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:title="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US" id="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">Net Cash Provided By Used In Financing Activities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:title="Label : us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract to label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_1" xml:lang="en-US" id="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_1">Financing activities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_1" xlink:title="Label : us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract to label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:title="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:title="Label : us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic to label_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_1" xml:lang="en-US" id="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_1">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-basic</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_1" xlink:title="Label : us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic to label_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:title="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:title="Label : us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted to label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_1" xml:lang="en-US" id="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_1">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_1" xlink:title="Label : us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted to label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_2" xml:lang="en-US" id="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_2">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-diluted</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_2" xlink:title="Label : us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted to label_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_2" xml:lang="en-US" id="label_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_2">Purchases of property, plant and equipment included in amounts due to related parties</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1" xlink:to="label_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_2" xlink:title="Label : us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1 to label_us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:label="us-gaap_NotesPayableCurrent" xlink:title="us-gaap_NotesPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NotesPayableCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NotesPayableCurrent" xml:lang="en-US" id="label_us-gaap_NotesPayableCurrent">Notes Payable, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableCurrent" xlink:to="label_us-gaap_NotesPayableCurrent" xlink:title="Label : us-gaap_NotesPayableCurrent to label_us-gaap_NotesPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NotesPayableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NotesPayableCurrent_1" xml:lang="en-US" id="label_us-gaap_NotesPayableCurrent_1">Note payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableCurrent" xlink:to="label_us-gaap_NotesPayableCurrent_1" xlink:title="Label : us-gaap_NotesPayableCurrent to label_us-gaap_NotesPayableCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesAndLoansReceivableNetCurrent" xlink:label="us-gaap_NotesAndLoansReceivableNetCurrent" xlink:title="us-gaap_NotesAndLoansReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NotesAndLoansReceivableNetCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NotesAndLoansReceivableNetCurrent" xml:lang="en-US" id="label_us-gaap_NotesAndLoansReceivableNetCurrent">Notes, Loans and Financing Receivable, Net, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesAndLoansReceivableNetCurrent" xlink:to="label_us-gaap_NotesAndLoansReceivableNetCurrent" xlink:title="Label : us-gaap_NotesAndLoansReceivableNetCurrent to label_us-gaap_NotesAndLoansReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NotesAndLoansReceivableNetCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NotesAndLoansReceivableNetCurrent_1" xml:lang="en-US" id="label_us-gaap_NotesAndLoansReceivableNetCurrent_1">Note receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesAndLoansReceivableNetCurrent" xlink:to="label_us-gaap_NotesAndLoansReceivableNetCurrent_1" xlink:title="Label : us-gaap_NotesAndLoansReceivableNetCurrent to label_us-gaap_NotesAndLoansReceivableNetCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:label="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:title="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation">Noncontrolling Interest, Decrease from Deconsolidation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:to="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:title="Label : us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation to label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_1" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_1">Deconsolidation of Daqo New Material Co., Ltd.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation" xlink:to="label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_1" xlink:title="Label : us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation to label_us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:label="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:title="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance">Noncontrolling Interest, Increase from Subsidiary Equity Issuance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:title="Label : us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance to label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_1" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_1">Proceeds from the sale of ownership interests by Xinjiang Daqo</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_1" xlink:title="Label : us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance to label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_2" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_2">Capital injection from noncontrolling shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_2" xlink:title="Label : us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance to label_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="us-gaap_NoncontrollingInterestMember" xlink:title="us-gaap_NoncontrollingInterestMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NoncontrollingInterestMember" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestMember">Noncontrolling Interest [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestMember" xlink:to="label_us-gaap_NoncontrollingInterestMember" xlink:title="Label : us-gaap_NoncontrollingInterestMember to label_us-gaap_NoncontrollingInterestMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NoncontrollingInterestMember_1" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestMember_1">Noncontrolling interest [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestMember" xlink:to="label_us-gaap_NoncontrollingInterestMember_1" xlink:title="Label : us-gaap_NoncontrollingInterestMember to label_us-gaap_NoncontrollingInterestMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestAbstract" xlink:label="us-gaap_NoncontrollingInterestAbstract" xlink:title="us-gaap_NoncontrollingInterestAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NoncontrollingInterestAbstract" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestAbstract">Noncontrolling Interest [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestAbstract" xlink:to="label_us-gaap_NoncontrollingInterestAbstract" xlink:title="Label : us-gaap_NoncontrollingInterestAbstract to label_us-gaap_NoncontrollingInterestAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NoncontrollingInterestAbstract_1" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestAbstract_1">Noncontrolling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestAbstract" xlink:to="label_us-gaap_NoncontrollingInterestAbstract_1" xlink:title="Label : us-gaap_NoncontrollingInterestAbstract to label_us-gaap_NoncontrollingInterestAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract" xlink:title="us-gaap_OperatingExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingExpensesAbstract" xml:lang="en-US" id="label_us-gaap_OperatingExpensesAbstract">Operating Expenses [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="label_us-gaap_OperatingExpensesAbstract" xlink:title="Label : us-gaap_OperatingExpensesAbstract to label_us-gaap_OperatingExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpensesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingExpensesAbstract_1" xml:lang="en-US" id="label_us-gaap_OperatingExpensesAbstract_1">Operating (expenses) income:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="label_us-gaap_OperatingExpensesAbstract_1" xlink:title="Label : us-gaap_OperatingExpensesAbstract to label_us-gaap_OperatingExpensesAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpensesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_OperatingExpensesAbstract_2" xml:lang="en-US" id="label_us-gaap_OperatingExpensesAbstract_2">OPERATING EXPENSES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="label_us-gaap_OperatingExpensesAbstract_2" xlink:title="Label : us-gaap_OperatingExpensesAbstract to label_us-gaap_OperatingExpensesAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xlink:title="us-gaap_OperatingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingExpenses" xml:lang="en-US" id="label_us-gaap_OperatingExpenses">Operating Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="label_us-gaap_OperatingExpenses" xlink:title="Label : us-gaap_OperatingExpenses to label_us-gaap_OperatingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpenses_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_us-gaap_OperatingExpenses_1" xml:lang="en-US" id="label_us-gaap_OperatingExpenses_1">Total operating expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="label_us-gaap_OperatingExpenses_1" xlink:title="Label : us-gaap_OperatingExpenses to label_us-gaap_OperatingExpenses_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">Operating Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_1">2016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_1" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2">2016 (Note 19)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingSegmentsMember" xlink:label="us-gaap_OperatingSegmentsMember" xlink:title="us-gaap_OperatingSegmentsMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingSegmentsMember" xml:lang="en-US" id="label_us-gaap_OperatingSegmentsMember">Operating Segments [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingSegmentsMember" xlink:to="label_us-gaap_OperatingSegmentsMember" xlink:title="Label : us-gaap_OperatingSegmentsMember to label_us-gaap_OperatingSegmentsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="us-gaap_OperatingLeasesRentExpenseNet" xlink:title="us-gaap_OperatingLeasesRentExpenseNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesRentExpenseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesRentExpenseNet" xml:lang="en-US" id="label_us-gaap_OperatingLeasesRentExpenseNet">Operating Leases, Rent Expense, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="label_us-gaap_OperatingLeasesRentExpenseNet" xlink:title="Label : us-gaap_OperatingLeasesRentExpenseNet to label_us-gaap_OperatingLeasesRentExpenseNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesRentExpenseNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesRentExpenseNet_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesRentExpenseNet_1">Lease expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="label_us-gaap_OperatingLeasesRentExpenseNet_1" xlink:title="Label : us-gaap_OperatingLeasesRentExpenseNet to label_us-gaap_OperatingLeasesRentExpenseNet_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">Operating Leases, Future Minimum Payments, Due in Two Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsAbstract" xlink:to="label_us-gaap_OtherCommitmentsAbstract" xlink:title="Label : us-gaap_OtherCommitmentsAbstract to label_us-gaap_OtherCommitmentsAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsAbstract" xlink:to="label_us-gaap_OtherCommitmentsAbstract_1" xlink:title="Label : us-gaap_OtherCommitmentsAbstract to label_us-gaap_OtherCommitmentsAbstract_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_OtherCostsAndDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OtherCostsAndDisclosuresAbstract" xml:lang="en-US" id="label_us-gaap_OtherCostsAndDisclosuresAbstract">Other Costs and Disclosures [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCostsAndDisclosuresAbstract" xlink:to="label_us-gaap_OtherCostsAndDisclosuresAbstract" xlink:title="Label : us-gaap_OtherCostsAndDisclosuresAbstract to label_us-gaap_OtherCostsAndDisclosuresAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCostsAndDisclosuresAbstract" xlink:to="label_us-gaap_OtherCostsAndDisclosuresAbstract_1" xlink:title="Label : us-gaap_OtherCostsAndDisclosuresAbstract to label_us-gaap_OtherCostsAndDisclosuresAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:title="us-gaap_OtherAccountsPayableAndAccruedLiabilities" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:to="label_us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:title="Label : us-gaap_OtherAccountsPayableAndAccruedLiabilities to label_us-gaap_OtherAccountsPayableAndAccruedLiabilities" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent" xlink:title="us-gaap_OtherAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OtherAssetsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OtherAssetsNoncurrent" xml:lang="en-US" id="label_us-gaap_OtherAssetsNoncurrent">Other Assets Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="label_us-gaap_OtherAssetsNoncurrent" xlink:title="Label : us-gaap_OtherAssetsNoncurrent to label_us-gaap_OtherAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OtherAssetsNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OtherAssetsNoncurrent_1" xml:lang="en-US" id="label_us-gaap_OtherAssetsNoncurrent_1">Other non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="label_us-gaap_OtherAssetsNoncurrent_1" xlink:title="Label : us-gaap_OtherAssetsNoncurrent to label_us-gaap_OtherAssetsNoncurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:title="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="us-gaap_OtherAssetsCurrent" xlink:title="us-gaap_OtherAssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OtherAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OtherAssetsCurrent" xml:lang="en-US" id="label_us-gaap_OtherAssetsCurrent">Other Assets, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsCurrent" xlink:to="label_us-gaap_OtherAssetsCurrent" xlink:title="Label : us-gaap_OtherAssetsCurrent to label_us-gaap_OtherAssetsCurrent" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_OtherDeferredCreditsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OtherDeferredCreditsNoncurrent" xml:lang="en-US" id="label_us-gaap_OtherDeferredCreditsNoncurrent">Other Deferred Credits Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherDeferredCreditsNoncurrent" xlink:to="label_us-gaap_OtherDeferredCreditsNoncurrent" xlink:title="Label : us-gaap_OtherDeferredCreditsNoncurrent to label_us-gaap_OtherDeferredCreditsNoncurrent" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherDeferredCreditsNoncurrent" xlink:to="label_us-gaap_OtherDeferredCreditsNoncurrent_1" xlink:title="Label : us-gaap_OtherDeferredCreditsNoncurrent to label_us-gaap_OtherDeferredCreditsNoncurrent_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesCurrent" xlink:to="label_us-gaap_OtherLiabilitiesCurrent_1" xlink:title="Label : us-gaap_OtherLiabilitiesCurrent to label_us-gaap_OtherLiabilitiesCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="us-gaap_OtherLiabilitiesNoncurrent" xlink:title="us-gaap_OtherLiabilitiesNoncurrent" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesNoncurrent" xlink:to="label_us-gaap_OtherLiabilitiesNoncurrent" xlink:title="Label : us-gaap_OtherLiabilitiesNoncurrent to label_us-gaap_OtherLiabilitiesNoncurrent" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_ProceedsFromBankDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ProceedsFromBankDebt" xml:lang="en-US" id="label_us-gaap_ProceedsFromBankDebt">Proceeds From Bank Debt</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDividendsReceived" xlink:label="us-gaap_ProceedsFromDividendsReceived" xlink:title="us-gaap_ProceedsFromDividendsReceived" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PropertyPlantAndEquipmentAdditions_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_PropertyPlantAndEquipmentAdditions_1" xml:lang="en-US" id="label_us-gaap_PropertyPlantAndEquipmentAdditions_1">Capital expenditures</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_PropertyPlantAndEquipmentAbstract" xml:lang="en-US" id="label_us-gaap_PropertyPlantAndEquipmentAbstract">PROPERTY AND EQUIPMENT, NET [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PropertyPlantAndEquipmentUsefulLife_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_PropertyPlantAndEquipmentUsefulLife_1" xml:lang="en-US" id="label_us-gaap_PropertyPlantAndEquipmentUsefulLife_1">Estimated useful lives</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PropertyPlantAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US" id="label_us-gaap_PropertyPlantAndEquipmentNet">Property Plant And Equipment Net</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PropertyPlantAndEquipmentNet_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_PropertyPlantAndEquipmentNet_2" xml:lang="en-US" id="label_us-gaap_PropertyPlantAndEquipmentNet_2">Property, plant and equipment, net</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PropertyPlantAndEquipmentNet_3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_PropertyPlantAndEquipmentNet_3" xml:lang="en-US" id="label_us-gaap_PropertyPlantAndEquipmentNet_3">Total</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_RegionalCarrierMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RegionalCarrierMember" xml:lang="en-US" id="label_us-gaap_RegionalCarrierMember">Regional Carrier [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RegionalCarrierMember" xlink:to="label_us-gaap_RegionalCarrierMember" xlink:title="Label : us-gaap_RegionalCarrierMember to label_us-gaap_RegionalCarrierMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" xlink:title="us-gaap_RangeMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RangeMember" xml:lang="en-US" id="label_us-gaap_RangeMember">Range [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="label_us-gaap_RangeMember" xlink:title="Label : us-gaap_RangeMember to label_us-gaap_RangeMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis" xlink:title="us-gaap_RangeAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RangeAxis" xml:lang="en-US" id="label_us-gaap_RangeAxis">Range [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeAxis" xlink:to="label_us-gaap_RangeAxis" xlink:title="Label : us-gaap_RangeAxis to label_us-gaap_RangeAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:label="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:title="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xml:lang="en-US" id="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy">Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:to="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:title="Label : us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy to label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_1" xml:lang="en-US" id="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_1">Allowance for Doubtful Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:to="label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_1" xlink:title="Label : us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy to label_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionDomain" xlink:label="us-gaap_RelatedPartyTransactionDomain" xlink:title="us-gaap_RelatedPartyTransactionDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionDomain" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionDomain">Related Party Transaction [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDomain" xlink:to="label_us-gaap_RelatedPartyTransactionDomain" xlink:title="Label : us-gaap_RelatedPartyTransactionDomain to label_us-gaap_RelatedPartyTransactionDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:title="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent">Related Party Transaction, Due from (to) Related Party, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:to="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:title="Label : us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent to label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent_1">Amount due from/to related party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:to="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent_1" xlink:title="Label : us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent to label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:title="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:title="Label : us-gaap_RelatedPartyTransactionsDisclosureTextBlock to label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_1">RELATED PARTY TRANSACTIONS AND BALANCES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_1" xlink:title="Label : us-gaap_RelatedPartyTransactionsDisclosureTextBlock to label_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="us-gaap_RelatedPartyTransactionLineItems" xlink:title="us-gaap_RelatedPartyTransactionLineItems" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionLineItems" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionLineItems">Related Party Transaction [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="label_us-gaap_RelatedPartyTransactionLineItems" xlink:title="Label : us-gaap_RelatedPartyTransactionLineItems to label_us-gaap_RelatedPartyTransactionLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionRate" xlink:label="us-gaap_RelatedPartyTransactionRate" xlink:title="us-gaap_RelatedPartyTransactionRate" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionRate" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionRate">Related Party Transaction, Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionRate" xlink:to="label_us-gaap_RelatedPartyTransactionRate" xlink:title="Label : us-gaap_RelatedPartyTransactionRate to label_us-gaap_RelatedPartyTransactionRate" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionRate_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionRate_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionRate_1">Interest rate on loan</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionRate" xlink:to="label_us-gaap_RelatedPartyTransactionRate_1" xlink:title="Label : us-gaap_RelatedPartyTransactionRate to label_us-gaap_RelatedPartyTransactionRate_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:label="us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:title="us-gaap_RelatedPartyTransactionAmountsOfTransaction" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction">Related Party Transaction, Amounts of Transaction</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:to="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:title="Label : us-gaap_RelatedPartyTransactionAmountsOfTransaction to label_us-gaap_RelatedPartyTransactionAmountsOfTransaction" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1">Other transactions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:to="label_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1" xlink:title="Label : us-gaap_RelatedPartyTransactionAmountsOfTransaction to label_us-gaap_RelatedPartyTransactionAmountsOfTransaction_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:title="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty">Related Party Transaction, Other Revenues from Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:to="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:title="Label : us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty to label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_1">Processing fee</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty" xlink:to="label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_1" xlink:title="Label : us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty to label_us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:title="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty">Related Party Transaction, Purchases from Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:to="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:title="Label : us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty to label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_1">Purchases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:to="label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_1" xlink:title="Label : us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty to label_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract">Related Party Transaction, Due from (to) Related Party [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:title="Label : us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract to label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_1">Related party balances:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract" xlink:to="label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_1" xlink:title="Label : us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract to label_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionAxis" xlink:label="us-gaap_RelatedPartyTransactionAxis" xlink:title="us-gaap_RelatedPartyTransactionAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionAxis" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionAxis">Related Party Transaction [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAxis" xlink:to="label_us-gaap_RelatedPartyTransactionAxis" xlink:title="Label : us-gaap_RelatedPartyTransactionAxis to label_us-gaap_RelatedPartyTransactionAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis">Related Party [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="label_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="Label : us-gaap_RelatedPartyTransactionsByRelatedPartyAxis to label_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:title="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty">Related Party Transaction, Expenses from Transactions with Related Party</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:title="Label : us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty to label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_1" xml:lang="en-US" id="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_1">Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:to="label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_1" xlink:title="Label : us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty to label_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="us-gaap_RelatedPartyDomain" xlink:title="us-gaap_RelatedPartyDomain" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="label_us-gaap_RetainedEarningsMember_1" xlink:title="Label : us-gaap_RetainedEarningsMember to label_us-gaap_RetainedEarningsMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="label_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:title="Label : us-gaap_RetainedEarningsAccumulatedDeficit to label_us-gaap_RetainedEarningsAccumulatedDeficit" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RetainedEarningsAccumulatedDeficit_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RetainedEarningsAccumulatedDeficit_1" xml:lang="en-US" id="label_us-gaap_RetainedEarningsAccumulatedDeficit_1">Accumulated losses</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="label_us-gaap_RetainedEarningsAccumulatedDeficit_2" xlink:title="Label : us-gaap_RetainedEarningsAccumulatedDeficit to label_us-gaap_RetainedEarningsAccumulatedDeficit_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="us-gaap_RetainedEarningsAppropriated" xlink:title="us-gaap_RetainedEarningsAppropriated" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RetainedEarningsAppropriated" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RetainedEarningsAppropriated" xml:lang="en-US" id="label_us-gaap_RetainedEarningsAppropriated">Retained Earnings, Appropriated</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAppropriated" xlink:to="label_us-gaap_RetainedEarningsAppropriated" xlink:title="Label : us-gaap_RetainedEarningsAppropriated to label_us-gaap_RetainedEarningsAppropriated" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RetainedEarningsAppropriated_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RetainedEarningsAppropriated_1" xml:lang="en-US" id="label_us-gaap_RetainedEarningsAppropriated_1">Aggregate balance of statutory common reserves</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionAbstract" xlink:to="label_us-gaap_RevenueRecognitionAbstract" xlink:title="Label : us-gaap_RevenueRecognitionAbstract to label_us-gaap_RevenueRecognitionAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionAbstract" xlink:to="label_us-gaap_RevenueRecognitionAbstract_1" xlink:title="Label : us-gaap_RevenueRecognitionAbstract to label_us-gaap_RevenueRecognitionAbstract_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_RevenueRecognitionPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RevenueRecognitionPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_RevenueRecognitionPolicyTextBlock_1">Revenue recognition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="label_us-gaap_RevenueRecognitionPolicyTextBlock_1" xlink:title="Label : us-gaap_RevenueRecognitionPolicyTextBlock to label_us-gaap_RevenueRecognitionPolicyTextBlock_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_RevenueFromRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_RevenueFromRelatedParties" xml:lang="en-US" id="label_us-gaap_RevenueFromRelatedParties">Revenue from Related Parties</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromRelatedParties" xlink:to="label_us-gaap_RevenueFromRelatedParties_1" xlink:title="Label : us-gaap_RevenueFromRelatedParties to label_us-gaap_RevenueFromRelatedParties_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromRelatedParties" xlink:to="label_us-gaap_RevenueFromRelatedParties_2" xlink:title="Label : us-gaap_RevenueFromRelatedParties to label_us-gaap_RevenueFromRelatedParties_2" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="label_us-gaap_Revenues_1" xlink:title="Label : us-gaap_Revenues to label_us-gaap_Revenues_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_Revenues_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_Revenues_2" xml:lang="en-US" id="label_us-gaap_Revenues_2">Total revenues</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="label_us-gaap_RevenuesAbstract" xlink:title="Label : us-gaap_RevenuesAbstract to label_us-gaap_RevenuesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_RevenuesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_RevenuesAbstract_1" xml:lang="en-US" id="label_us-gaap_RevenuesAbstract_1">Revenues</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="label_us-gaap_RevenuesAbstract_1" xlink:title="Label : us-gaap_RevenuesAbstract to label_us-gaap_RevenuesAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:to="label_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:title="Label : us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 to label_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShippingAndHandlingCostPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ShippingAndHandlingCostPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_ShippingAndHandlingCostPolicyTextBlock_1">Shipping and handling</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShippingAndHandlingCostPolicyTextBlock" xlink:to="label_us-gaap_ShippingAndHandlingCostPolicyTextBlock_1" xlink:title="Label : us-gaap_ShippingAndHandlingCostPolicyTextBlock to label_us-gaap_ShippingAndHandlingCostPolicyTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermDebtTypeAxis" xlink:label="us-gaap_ShortTermDebtTypeAxis" xlink:title="us-gaap_ShortTermDebtTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ShortTermDebtTypeAxis" xml:lang="en-US" id="label_us-gaap_ShortTermDebtTypeAxis">Short-term Debt, Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtTypeAxis" xlink:to="label_us-gaap_ShortTermDebtTypeAxis" xlink:title="Label : us-gaap_ShortTermDebtTypeAxis to label_us-gaap_ShortTermDebtTypeAxis" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ShortTermBorrowings" xml:lang="en-US" id="label_us-gaap_ShortTermBorrowings">Short-term Debt</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermBorrowings_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ShortTermBorrowings_1" xml:lang="en-US" id="label_us-gaap_ShortTermBorrowings_1">Short-term bank borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBorrowings" xlink:to="label_us-gaap_ShortTermBorrowings_1" xlink:title="Label : us-gaap_ShortTermBorrowings to label_us-gaap_ShortTermBorrowings_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermDebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ShortTermDebtWeightedAverageInterestRate" xml:lang="en-US" id="label_us-gaap_ShortTermDebtWeightedAverageInterestRate">Short-term Debt, Weighted Average Interest Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtWeightedAverageInterestRate" xlink:to="label_us-gaap_ShortTermDebtWeightedAverageInterestRate" xlink:title="Label : us-gaap_ShortTermDebtWeightedAverageInterestRate to label_us-gaap_ShortTermDebtWeightedAverageInterestRate" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermBankLoansAndNotesPayable" xlink:label="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:title="us-gaap_ShortTermBankLoansAndNotesPayable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermBankLoansAndNotesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ShortTermBankLoansAndNotesPayable" xml:lang="en-US" id="label_us-gaap_ShortTermBankLoansAndNotesPayable">Short-term Bank Loans and Notes Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:to="label_us-gaap_ShortTermBankLoansAndNotesPayable" xlink:title="Label : us-gaap_ShortTermBankLoansAndNotesPayable to label_us-gaap_ShortTermBankLoansAndNotesPayable" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermBankLoansAndNotesPayable_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ShortTermBankLoansAndNotesPayable_1" xml:lang="en-US" id="label_us-gaap_ShortTermBankLoansAndNotesPayable_1">Short-term credit bank borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:to="label_us-gaap_ShortTermBankLoansAndNotesPayable_1" xlink:title="Label : us-gaap_ShortTermBankLoansAndNotesPayable to label_us-gaap_ShortTermBankLoansAndNotesPayable_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermBankLoansAndNotesPayable_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_ShortTermBankLoansAndNotesPayable_2" xml:lang="en-US" id="label_us-gaap_ShortTermBankLoansAndNotesPayable_2">Short-term bank borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:to="label_us-gaap_ShortTermBankLoansAndNotesPayable_2" xlink:title="Label : us-gaap_ShortTermBankLoansAndNotesPayable to label_us-gaap_ShortTermBankLoansAndNotesPayable_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermDebtRefinancedAmount" xlink:label="us-gaap_ShortTermDebtRefinancedAmount" xlink:title="us-gaap_ShortTermDebtRefinancedAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermDebtRefinancedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ShortTermDebtRefinancedAmount" xml:lang="en-US" id="label_us-gaap_ShortTermDebtRefinancedAmount">Short-term Debt, Refinanced, Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtRefinancedAmount" xlink:to="label_us-gaap_ShortTermDebtRefinancedAmount" xlink:title="Label : us-gaap_ShortTermDebtRefinancedAmount to label_us-gaap_ShortTermDebtRefinancedAmount" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermDebtRefinancedAmount_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_ShortTermDebtRefinancedAmount_1" xml:lang="en-US" id="label_us-gaap_ShortTermDebtRefinancedAmount_1">Rolled over, renewed or replaced borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtRefinancedAmount" xlink:to="label_us-gaap_ShortTermDebtRefinancedAmount_1" xlink:title="Label : us-gaap_ShortTermDebtRefinancedAmount to label_us-gaap_ShortTermDebtRefinancedAmount_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermDebtTypeDomain" xlink:label="us-gaap_ShortTermDebtTypeDomain" xlink:title="us-gaap_ShortTermDebtTypeDomain" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ShortTermDebtTypeDomain" xml:lang="en-US" id="label_us-gaap_ShortTermDebtTypeDomain">Short-term Debt, Type [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtTypeDomain" xlink:to="label_us-gaap_ShortTermDebtTypeDomain" xlink:title="Label : us-gaap_ShortTermDebtTypeDomain to label_us-gaap_ShortTermDebtTypeDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="us-gaap_ShortTermDebtLineItems" xlink:title="us-gaap_ShortTermDebtLineItems" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ShortTermDebtLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ShortTermDebtLineItems" xml:lang="en-US" id="label_us-gaap_ShortTermDebtLineItems">Short-term Debt [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtLineItems" xlink:to="label_us-gaap_ShortTermDebtLineItems" xlink:title="Label : us-gaap_ShortTermDebtLineItems to label_us-gaap_ShortTermDebtLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:title="us-gaap_SignificantAccountingPoliciesTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US" id="label_us-gaap_SignificantAccountingPoliciesTextBlock">Significant Accounting Policies [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="label_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:title="Label : us-gaap_SignificantAccountingPoliciesTextBlock to label_us-gaap_SignificantAccountingPoliciesTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SignificantAccountingPoliciesTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_SignificantAccountingPoliciesTextBlock_1" xml:lang="en-US" id="label_us-gaap_SignificantAccountingPoliciesTextBlock_1">SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="label_us-gaap_SignificantAccountingPoliciesTextBlock_1" xlink:title="Label : us-gaap_SignificantAccountingPoliciesTextBlock to label_us-gaap_SignificantAccountingPoliciesTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" xlink:label="us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" xlink:title="us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" xml:lang="en-US" id="label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted">Supply Commitment, Remaining Minimum Amount Committed</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted_1" xml:lang="en-US" id="label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted_1">Supply commitment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted" xlink:to="label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted_1" xlink:title="Label : us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted to label_us-gaap_SignificantSupplyCommitmentRemainingMinimumAmountCommitted_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" xlink:title="us-gaap_StatementLineItems" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_StatementLineItems" xml:lang="en-US" id="label_us-gaap_StatementLineItems">Statement [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="label_us-gaap_StatementLineItems" xlink:title="Label : us-gaap_StatementLineItems to label_us-gaap_StatementLineItems" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StatementLineItems_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_StatementLineItems_1" xml:lang="en-US" id="label_us-gaap_StatementLineItems_1">Statement [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="label_us-gaap_StatementLineItems_1" xlink:title="Label : us-gaap_StatementLineItems to label_us-gaap_StatementLineItems_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="label_us-gaap_StatementOfStockholdersEquityAbstract" xlink:title="Label : us-gaap_StatementOfStockholdersEquityAbstract to label_us-gaap_StatementOfStockholdersEquityAbstract" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xml:lang="en-US" id="label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices">Stock Issued During Period, Shares, Issued for Services</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:title="Label : us-gaap_StockIssuedDuringPeriodSharesIssuedForServices to label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_1" xml:lang="en-US" id="label_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_1">Issuance of common stock in exchange for services rendered, shares</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_StockholdersEquityNoteDisclosureTextBlock">Stockholders' Equity Note Disclosure [Text Block]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityNoteDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_StockholdersEquityNoteDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_StockholdersEquityNoteDisclosureTextBlock_1">FOLLOW-ON EQUITY OFFERING</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="label_us-gaap_StockholdersEquityNoteDisclosureTextBlock_1" xlink:title="Label : us-gaap_StockholdersEquityNoteDisclosureTextBlock to label_us-gaap_StockholdersEquityNoteDisclosureTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:title="us-gaap_StockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_StockholdersEquityAbstract" xml:lang="en-US" id="label_us-gaap_StockholdersEquityAbstract">Stockholders Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="label_us-gaap_StockholdersEquityAbstract" xlink:title="Label : us-gaap_StockholdersEquityAbstract to label_us-gaap_StockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_StockholdersEquityAbstract_1" xml:lang="en-US" id="label_us-gaap_StockholdersEquityAbstract_1">Daqo New Energy Corp. shareholders' equity:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityPolicyTextBlock" xlink:label="us-gaap_StockholdersEquityPolicyTextBlock" xlink:title="us-gaap_StockholdersEquityPolicyTextBlock" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityPolicyTextBlock" xlink:to="label_us-gaap_StockholdersEquityPolicyTextBlock_1" xlink:title="Label : us-gaap_StockholdersEquityPolicyTextBlock to label_us-gaap_StockholdersEquityPolicyTextBlock_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xml:lang="en-US" id="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">Stockholders Equity Including Portion Attributable To Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:title="Label : us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest to label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_1" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_1" xml:lang="en-US" id="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_1">Balance</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_1" xlink:title="Label : us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest to label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2" xml:lang="en-US" id="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2">Balance</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3" xml:lang="en-US" id="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3">Total equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3" xlink:title="Label : us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest to label_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="us-gaap_StockholdersEquityNoteAbstract" xlink:title="us-gaap_StockholdersEquityNoteAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquityNoteAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_StockholdersEquityNoteAbstract" xml:lang="en-US" id="label_us-gaap_StockholdersEquityNoteAbstract">FOLLOW-ON EQUITY OFFERING [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="label_us-gaap_StockholdersEquityNoteAbstract" xlink:title="Label : us-gaap_StockholdersEquityNoteAbstract to label_us-gaap_StockholdersEquityNoteAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="label_us-gaap_StockholdersEquity" xlink:title="Label : us-gaap_StockholdersEquity to label_us-gaap_StockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_StockholdersEquity_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_StockholdersEquity_1" xml:lang="en-US" id="label_us-gaap_StockholdersEquity_1">Total shareholders' equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="label_us-gaap_StockholdersEquity_1" xlink:title="Label : us-gaap_StockholdersEquity to label_us-gaap_StockholdersEquity_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventTypeAxis" xml:lang="en-US" id="label_us-gaap_SubsequentEventTypeAxis">Subsequent Event Type [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_SubsequentEventsAbstract" xml:lang="en-US" id="label_us-gaap_SubsequentEventsAbstract">SUBSEQUENT EVENTS [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="label_us-gaap_SubsequentEventsAbstract" xlink:title="Label : us-gaap_SubsequentEventsAbstract to label_us-gaap_SubsequentEventsAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:title="Label : us-gaap_WeightedAverageNumberOfSharesOutstandingBasic to label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1" xml:lang="en-US" id="label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1">Basic-ordinary shares</link:label>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>25
<FILENAME>dq-20151231_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826824848">
<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, 2015 </div>
<div>shares</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">&#160;<span></span>
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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_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
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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,  2015<span></span>
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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_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2015<span></span>
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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_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
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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_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">DQ<span></span>
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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_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">DAQO NEW ENERGY CORP.<span></span>
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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_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001477641<span></span>
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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>
</tr>
<tr 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_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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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_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<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_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">260,836,578<span></span>
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</tr>
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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></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>
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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>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 style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</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>
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<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">
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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>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 style="white-space:nowrap;">dei_DocumentFiscalYearFocus</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_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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</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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<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_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 style="white-space:nowrap;">dei_DocumentPeriodEndDate</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 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 style="white-space:nowrap;">dei_DocumentType</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</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></div>
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<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> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</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></div>
</div></td></tr>
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<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 style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">dei_EntityCurrentReportingStatus</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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 style="white-space:nowrap;">dei_EntityFilerCategory</td>
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<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> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</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>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 style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</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>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;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td>na</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827576592">
<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, 2015</div></th>
<th class="th"><div>Dec. 31, 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_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 14,490,011<span></span>
</td>
<td class="nump">$ 7,068,483<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">19,062,713<span></span>
</td>
<td class="nump">22,169,236<span></span>
</td>
</tr>
<tr class="ro">
<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 $3,189,110 and $1,087,465 as of December 31, 2014 and 2015</a></td>
<td class="nump">19,849,608<span></span>
</td>
<td class="nump">8,714,261<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 );">Note receivables</a></td>
<td class="nump">11,109,695<span></span>
</td>
<td class="nump">50,239,886<span></span>
</td>
</tr>
<tr class="ro">
<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">12,235,141<span></span>
</td>
<td class="nump">12,835,869<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">1,028,287<span></span>
</td>
<td class="nump">1,352,747<span></span>
</td>
</tr>
<tr class="ro">
<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">10,715,939<span></span>
</td>
<td class="nump">9,581,784<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 );">Amounts due from related parties</a></td>
<td class="nump">284,633<span></span>
</td>
<td class="nump">9,986,968<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">88,776,027<span></span>
</td>
<td class="nump">121,949,234<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_PropertyPlantAndEquipmentNet', window );">Property, plant and equipment, net</a></td>
<td class="nump">544,326,125<span></span>
</td>
<td class="nump">559,006,119<span></span>
</td>
</tr>
<tr class="ro">
<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">27,122,287<span></span>
</td>
<td class="nump">$ 29,006,693<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_DeferredTaxAssetsLiabilitiesNetNoncurrent', window );">Deferred tax assets-non current</a></td>
<td class="nump">$ 626,965<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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="text"> <span></span>
</td>
<td class="nump">$ 169,173<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_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">$ 660,851,404<span></span>
</td>
<td class="nump">710,131,219<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtCurrent', window );">Short-term bank borrowings, including current portion of long-term bank borrowings</a></td>
<td class="nump">123,936,995<span></span>
</td>
<td class="nump">159,803,876<span></span>
</td>
</tr>
<tr class="ro">
<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">17,491,292<span></span>
</td>
<td class="nump">16,784,156<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_NotesPayableCurrent', window );">Note payables</a></td>
<td class="nump">20,152,962<span></span>
</td>
<td class="nump">48,941,807<span></span>
</td>
</tr>
<tr class="ro">
<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">8,183,376<span></span>
</td>
<td class="nump">7,308,535<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_OtherLiabilitiesCurrent', window );">Payables for purchases of property, plant and equipment</a></td>
<td class="nump">49,674,887<span></span>
</td>
<td class="nump">64,575,527<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">8,616,831<span></span>
</td>
<td class="nump">8,955,663<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 parties</a></td>
<td class="nump">46,396,527<span></span>
</td>
<td class="nump">$ 89,698,151<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">940,732<span></span>
</td>
<td class="text"> <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">275,393,602<span></span>
</td>
<td class="nump">$ 396,067,715<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">$ 118,548,430<span></span>
</td>
<td class="nump">77,336,160<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 );">Advances from customers</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">3,401,667<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 25,252,882<span></span>
</td>
<td class="nump">26,557,607<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">$ 419,194,914<span></span>
</td>
<td class="nump">$ 503,363,149<span></span>
</td>
</tr>
<tr class="ro">
<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 and contingencies (Note 17)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <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">&#160;<span></span>
</td>
<td class="text">&#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_CommonStockValueOutstanding', window );">Ordinary shares; $0.0001 per value 500,000,000 shares authorized as of December 31, 2014 and 2015; 225,864,103 and 279,214,103 shares issued as of December 31, 2014 and 2015, respectively and 223,577,853 and 260,836,578 shares outstanding as of December 31, 2014 and 2015, respectively</a></td>
<td class="nump">$ 26,320<span></span>
</td>
<td class="nump">$ 22,358<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">236,358,070<span></span>
</td>
<td class="nump">203,125,494<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Accumulated losses</a></td>
<td class="num">(3,061,404)<span></span>
</td>
<td class="num">(16,018,293)<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">8,780,313<span></span>
</td>
<td class="nump">20,037,183<span></span>
</td>
</tr>
<tr class="ro">
<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 (2,286,250 and 4,643,150 shares as of December 31, 2014 and 2015, respectively)</a></td>
<td class="num">(1,748,836)<span></span>
</td>
<td class="num">(398,672)<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 shareholders' equity</a></td>
<td class="nump">240,354,463<span></span>
</td>
<td class="nump">$ 206,768,070<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">1,302,027<span></span>
</td>
<td class="text"> <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">241,656,490<span></span>
</td>
<td class="nump">$ 206,768,070<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">$ 660,851,404<span></span>
</td>
<td class="nump">$ 710,131,219<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 style="white-space:nowrap;">dq_AccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdvancesOnInventoryPurchases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValueOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CustomerAdvancesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CustomerAdvancesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DeferredTaxAssetsLiabilitiesNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, netted by jurisdiction and classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph k<br> -Subparagraph 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 27<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28367877&amp;loc=d3e4531-111522<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesAndLoansReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.Q4)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherDeferredCreditsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6904-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568740-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>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_TaxesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_TreasuryStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811334544">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Accounts receivable, allowance for doubtful accounts</a></td>
<td class="nump">$ 1,087,465<span></span>
</td>
<td class="nump">$ 3,189,110<span></span>
</td>
</tr>
<tr class="ro">
<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">279,214,103<span></span>
</td>
<td class="nump">225,864,103<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">260,836,578<span></span>
</td>
<td class="nump">223,577,853<span></span>
</td>
</tr>
<tr class="ro">
<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">4,643,150<span></span>
</td>
<td class="nump">2,286,250<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827930368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 182,040,968<span></span>
</td>
<td class="nump">$ 182,571,852<span></span>
</td>
<td class="nump">$ 108,999,805<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_CostOfRevenueAbstract', window );"><strong>Cost of revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CostOfRevenue', window );">Total cost of revenues</a></td>
<td class="num">(144,491,083)<span></span>
</td>
<td class="num">(139,308,511)<span></span>
</td>
<td class="num">(135,103,408)<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_GrossProfit', window );">Gross (loss) profit</a></td>
<td class="nump">37,549,885<span></span>
</td>
<td class="nump">43,263,341<span></span>
</td>
<td class="num">(26,103,603)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
<td class="num">(12,603,824)<span></span>
</td>
<td class="num">(10,293,851)<span></span>
</td>
<td class="num">(18,132,515)<span></span>
</td>
</tr>
<tr class="ro">
<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">(923,664)<span></span>
</td>
<td class="num">(1,486,978)<span></span>
</td>
<td class="num">(3,391,012)<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_OtherOperatingIncome', window );">Other operating income, net</a></td>
<td class="nump">3,824,881<span></span>
</td>
<td class="nump">$ 552,444<span></span>
</td>
<td class="nump">5,420,777<span></span>
</td>
</tr>
<tr class="ro">
<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">(1,622,588)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(158,424,827)<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">(11,325,195)<span></span>
</td>
<td class="num">$ (11,228,385)<span></span>
</td>
<td class="num">(174,527,577)<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_OperatingIncomeLoss', window );">(Loss) income from operations</a></td>
<td class="nump">26,224,690<span></span>
</td>
<td class="nump">32,034,956<span></span>
</td>
<td class="num">(200,631,180)<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_InterestExpense', window );">Interest expense</a></td>
<td class="num">(13,173,958)<span></span>
</td>
<td class="num">(15,654,106)<span></span>
</td>
<td class="num">(19,349,190)<span></span>
</td>
</tr>
<tr class="ro">
<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">493,995<span></span>
</td>
<td class="nump">324,118<span></span>
</td>
<td class="nump">149,752<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_ForeignCurrencyTransactionGainLossBeforeTax', window );">Exchange (loss) gain</a></td>
<td class="nump">640,678<span></span>
</td>
<td class="num">(55,792)<span></span>
</td>
<td class="nump">11,875<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">(Loss) income before income taxes</a></td>
<td class="nump">14,185,405<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">(219,818,743)<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_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="num">(1,137,821)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,271,765)<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_ProfitLoss', window );">Net (loss) income</a></td>
<td class="nump">13,047,584<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">(221,090,508)<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_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net (loss) income attributable to noncontrolling interest</a></td>
<td class="nump">90,695<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(150,147,024)<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 (loss) income attributable to Daqo New Energy Corp. ordinary shareholders</a></td>
<td class="nump">$ 12,956,889<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (70,943,484)<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_EarningsPerShareAbstract', window );"><strong>NET (LOSS) EARNINGS PER ORDINARY SHARE</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_EarningsPerShareBasic', window );">Basic-ordinary shares</a></td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.41)<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_EarningsPerShareDiluted', window );">Diluted-ordinary shares</a></td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.41)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic-ordinary shares</a></td>
<td class="nump">258,015,851<span></span>
</td>
<td class="nump">206,349,976<span></span>
</td>
<td class="nump">173,068,420<span></span>
</td>
</tr>
<tr class="ro">
<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">261,411,933<span></span>
</td>
<td class="nump">211,353,643<span></span>
</td>
<td class="nump">173,068,420<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=us-gaap_ProductMember', window );">Products [Member] | Third parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_Revenues', window );">Revenues</a></td>
<td class="nump">$ 166,942,726<span></span>
</td>
<td class="nump">$ 158,256,598<span></span>
</td>
<td class="nump">$ 93,710,464<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=us-gaap_ProductMember', window );">Products [Member] | Related parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_Revenues', window );">Revenues</a></td>
<td class="nump">9,069,816<span></span>
</td>
<td class="nump">15,840,748<span></span>
</td>
<td class="nump">13,471,866<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=dq_ServiceMember', window );">Service Fee [Member] | Third parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_Revenues', window );">Revenues</a></td>
<td class="nump">3,203,298<span></span>
</td>
<td class="nump">5,165,254<span></span>
</td>
<td class="nump">$ 1,817,475<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProductOrServiceAxis=dq_ServiceMember', window );">Service Fee [Member] | Related parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RevenuesAbstract', window );"><strong>Revenues</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_Revenues', window );">Revenues</a></td>
<td class="nump">$ 2,825,128<span></span>
</td>
<td class="nump">$ 3,309,252<span></span>
</td>
<td class="text"> <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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_CostOfRevenueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 940<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51673353&amp;loc=d3e41242-110953<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 10<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</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 style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherOperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<tr>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 985<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</tr>
</table></div>
</div></td></tr>
</table>
<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></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51677171&amp;loc=d3e3636-108311<br></p></div>
<a href="javascript:void(0);" 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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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827761888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract', window );"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="nump">$ 13,047,584<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (221,090,508)<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustments</a></td>
<td class="num">(11,286,150)<span></span>
</td>
<td class="num">(3,662,013)<span></span>
</td>
<td class="nump">5,543,033<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_OtherComprehensiveIncomeLossNetOfTax', window );">Total other comprehensive income</a></td>
<td class="num">(11,286,150)<span></span>
</td>
<td class="num">(3,662,013)<span></span>
</td>
<td class="nump">5,543,033<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_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Comprehensive (loss) income</a></td>
<td class="nump">1,761,434<span></span>
</td>
<td class="nump">$ 12,987,163<span></span>
</td>
<td class="num">(215,547,475)<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_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive (loss) income attributable to noncontrolling interest</a></td>
<td class="nump">61,415<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(148,752,181)<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 (loss) income attributable to Daqo New Energy Corp. shareholders</a></td>
<td class="nump">$ 1,700,019<span></span>
</td>
<td class="nump">$ 12,987,163<span></span>
</td>
<td class="num">$ (66,795,294)<span></span>
</td>
</tr>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
<a href="javascript:void(0);" 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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<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 (loss) and other comprehensive income (loss), 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4613674-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569643-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (b,c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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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<td><strong> Period Type:</strong></td>
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</table></div>
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</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828161632">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)<br></strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Ordinary shares [Member]</div></th>
<th class="th"><div>Treasury Stock [Member]</div></th>
<th class="th"><div>Additional paid in capital [Member]</div></th>
<th class="th"><div>Accumulated Loss [Member]</div></th>
<th class="th"><div>Accumulated other comprehensive income [Member]</div></th>
<th class="th"><div>Noncontrolling interest [Member]</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2012</a></td>
<td class="nump">$ 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">&#160;<span></span>
</td>
<td class="nump">172,877,433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="num">(221,090,508)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (70,943,484)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(150,147,024)<span></span>
</td>
</tr>
<tr class="ro">
<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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 4,148,190<span></span>
</td>
<td class="nump">$ 1,394,843<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_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
<td class="nump">1,881,401<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,881,401<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised</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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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 );">Options Exercised, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">550,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_TreasuryStockSharesAcquired', window );">Repurchase of stock, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 Daqo New Material Co., Ltd.</a></td>
<td class="nump">9,980,051<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (9,980,051)<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"> <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">&#160;<span></span>
</td>
<td class="nump">173,427,853<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ProfitLoss', window );">Net income (loss)</a></td>
<td class="nump">16,649,176<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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="num">(3,662,013)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (3,662,013)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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">1,792,819<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,792,819<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="nump">54,624,447<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">54,619,447<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Options Exercised</a></td>
<td class="nump">37,080<span></span>
</td>
<td class="nump">$ 15<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">37,065<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 of stock, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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, 2014</a></td>
<td class="nump">206,768,070<span></span>
</td>
<td class="nump">$ 22,358<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
<td class="nump">$ 203,125,494<span></span>
</td>
<td class="num">$ (16,018,293)<span></span>
</td>
<td class="nump">$ 20,037,183<span></span>
</td>
<td class="text"> <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, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">223,577,853<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ProfitLoss', window );">Net income (loss)</a></td>
<td class="nump">13,047,584<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 12,956,889<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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="num">(11,286,150)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (11,256,870)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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">3,687,951<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 3,687,951<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="nump">27,996,959<span></span>
</td>
<td class="nump">$ 3,850<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">27,993,109<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Options Exercised</a></td>
<td class="nump">$ 275,783<span></span>
</td>
<td class="nump">$ 112<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 275,671<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised, shares</a></td>
<td class="nump">1,115,625<span></span>
</td>
<td class="nump">1,115,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 of stock</a></td>
<td class="num">$ (1,350,164)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (1,350,164)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 of stock, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,356,900)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="nump">2,516,457<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,275,845<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,240,612<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, 2015</a></td>
<td class="nump">$ 241,656,490<span></span>
</td>
<td class="nump">$ 26,320<span></span>
</td>
<td class="num">$ (1,748,836)<span></span>
</td>
<td class="nump">$ 236,358,070<span></span>
</td>
<td class="num">$ (3,061,404)<span></span>
</td>
<td class="nump">$ 8,780,313<span></span>
</td>
<td class="nump">$ 1,302,027<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, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">260,836,578<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 gain (loss) in the disposal group, including discontinued operation, recognized in the statement of income as a result of the sale or complete or substantially complete liquidation of an investment in a foreign 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 23<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569655-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669625-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 55<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51821188&amp;loc=d3e1436-108581<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockIssuedDuringPeriodSharesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 during the period that is attributable to transactions involving issuance of stock not separately disclosed.</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 style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockIssuedDuringPeriodValueOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</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 style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568740-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockSharesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValueAcquiredParValueMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StatementEquityComponentsAxis=dq_CommonStockOutstandingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=dq_CommonStockOutstandingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6800730672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfStockholdersEquityAbstract', window );"><strong>CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts', window );">Follow-on equity offering, issuance costs</a></td>
<td class="nump">$ 2,033,041<span></span>
</td>
<td class="nump">$ 3,375,553<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_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 decrease in additional paid in capital (APIC) resulting from direct costs associated with issuing stock. Includes, but is not limited to, legal and accounting fees and direct costs associated with stock issues under a shelf registration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StatementOfStockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_StatementOfStockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</div></td></tr>
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</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827258992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract', window );"><strong>Operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="nump">$ 13,047,584<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (221,090,508)<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 (loss) income to net cash provided by (used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AssetImpairmentCharges', window );">Long-lived assets impairment</a></td>
<td class="nump">1,622,588<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">158,424,827<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">3,687,951<span></span>
</td>
<td class="nump">$ 1,792,819<span></span>
</td>
<td class="nump">1,881,401<span></span>
</td>
</tr>
<tr class="ro">
<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">62,422<span></span>
</td>
<td class="nump">175,568<span></span>
</td>
<td class="nump">29,905,734<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ProvisionForReversalOfDoubtfulAccounts', window );">Allowance for doubtful accounts</a></td>
<td class="num">(2,026,567)<span></span>
</td>
<td class="num">(3,823,744)<span></span>
</td>
<td class="nump">5,482,019<span></span>
</td>
</tr>
<tr class="ro">
<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">31,361,026<span></span>
</td>
<td class="nump">28,007,943<span></span>
</td>
<td class="nump">$ 52,250,595<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_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on disposal of Property Plant and Equipment</a></td>
<td class="nump">166,283<span></span>
</td>
<td class="nump">$ 314,728<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_DeferredTaxAssets', window );">Deferred tax assets</a></td>
<td class="num">(626,965)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,415,502<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_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
<td class="num">(10,399,283)<span></span>
</td>
<td class="nump">$ 4,775,333<span></span>
</td>
<td class="nump">12,431,119<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_IncreaseDecreaseInNotesReceivableCurrent', window );">Note receivables</a></td>
<td class="nump">36,898,166<span></span>
</td>
<td class="num">(34,702,180)<span></span>
</td>
<td class="num">(11,496,473)<span></span>
</td>
</tr>
<tr class="ro">
<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">30,465<span></span>
</td>
<td class="nump">10,217,835<span></span>
</td>
<td class="nump">29,616<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_IncreaseDecreaseInAdvancePayments', window );">Advances to suppliers</a></td>
<td class="nump">264,361<span></span>
</td>
<td class="num">(513,373)<span></span>
</td>
<td class="num">(122,753)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
<td class="num">(1,622,269)<span></span>
</td>
<td class="nump">484,562<span></span>
</td>
<td class="num">(25,270,470)<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="nump">5,481,362<span></span>
</td>
<td class="nump">2,193,604<span></span>
</td>
<td class="num">(6,853,965)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_IncreaseDecreaseInPrepaidExpensesNoncurrent', window );">Prepaid land use rights</a></td>
<td class="nump">595,716<span></span>
</td>
<td class="nump">623,413<span></span>
</td>
<td class="nump">264,549<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_IncreaseDecreaseInOtherNoncurrentAssets', window );">Other non-current assets</a></td>
<td class="nump">161,657<span></span>
</td>
<td class="nump">229,688<span></span>
</td>
<td class="nump">4,513,271<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Accounts payable</a></td>
<td class="nump">1,452,811<span></span>
</td>
<td class="num">(475,966)<span></span>
</td>
<td class="nump">5,349,428<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_IncreaseDecreaseInNotesPayableCurrent', window );">Note payables</a></td>
<td class="num">(14,733,475)<span></span>
</td>
<td class="nump">31,992,814<span></span>
</td>
<td class="num">(19,760,436)<span></span>
</td>
</tr>
<tr class="ro">
<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">59,045<span></span>
</td>
<td class="nump">$ 1,677,622<span></span>
</td>
<td class="nump">468,946<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="nump">940,732<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(160,480)<span></span>
</td>
</tr>
<tr class="ro">
<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">(2,051,000)<span></span>
</td>
<td class="num">$ (13,813,120)<span></span>
</td>
<td class="num">(4,254,342)<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 parties</a></td>
<td class="nump">2,178,445<span></span>
</td>
<td class="num">(453,075)<span></span>
</td>
<td class="num">(415,960)<span></span>
</td>
</tr>
<tr class="ro">
<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="num">(124,842)<span></span>
</td>
<td class="nump">266,082<span></span>
</td>
<td class="nump">482,563<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 (used in) provided by operating activities</a></td>
<td class="nump">66,426,213<span></span>
</td>
<td class="nump">45,619,729<span></span>
</td>
<td class="num">(16,525,817)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of property, plant and equipment</a></td>
<td class="num">(81,364,037)<span></span>
</td>
<td class="num">(77,028,755)<span></span>
</td>
<td class="num">(32,504,507)<span></span>
</td>
</tr>
<tr class="ro">
<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 );">(Decrease)/Increase in restricted cash</a></td>
<td class="nump">2,121,603<span></span>
</td>
<td class="num">$ (13,560,277)<span></span>
</td>
<td class="nump">$ 1,823,635<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="nump">$ 5,110,085<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (15,241)<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">$ (74,132,349)<span></span>
</td>
<td class="num">$ (90,589,032)<span></span>
</td>
<td class="num">(30,696,113)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">245,957,818<span></span>
</td>
<td class="nump">275,134,122<span></span>
</td>
<td class="nump">157,271,287<span></span>
</td>
</tr>
<tr class="ro">
<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 parties loans</a></td>
<td class="num">(276,575,346)<span></span>
</td>
<td class="num">(275,088,560)<span></span>
</td>
<td class="num">(69,386,568)<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">237,031,976<span></span>
</td>
<td class="nump">176,114,553<span></span>
</td>
<td class="nump">74,551,991<span></span>
</td>
</tr>
<tr class="ro">
<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">(220,611,404)<span></span>
</td>
<td class="num">$ (186,549,888)<span></span>
</td>
<td class="num">$ (113,745,197)<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="num">(1,350,164)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Proceeds from options exercised</a></td>
<td class="nump">275,783<span></span>
</td>
<td class="nump">$ 37,080<span></span>
</td>
<td class="nump">$ 135,171<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_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from follow-on equity offering</a></td>
<td class="nump">30,030,000<span></span>
</td>
<td class="nump">58,000,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfStockIssuanceCosts', window );">Insurance cost for follow-on equity offering</a></td>
<td class="num">(2,033,041)<span></span>
</td>
<td class="num">(3,375,553)<span></span>
</td>
<td class="text"> <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_ProceedsFromMinorityShareholders', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="nump">2,516,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net cash provided by financing activities</a></td>
<td class="nump">15,242,079<span></span>
</td>
<td class="nump">44,271,754<span></span>
</td>
<td class="nump">$ 48,826,684<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_EffectOfExchangeRateOnCashAndCashEquivalents', window );">Effect of exchange rate changes on cash and cash equivalents</a></td>
<td class="num">(114,415)<span></span>
</td>
<td class="num">(65,052)<span></span>
</td>
<td class="num">(452,694)<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">7,421,528<span></span>
</td>
<td class="num">(762,601)<span></span>
</td>
<td class="nump">1,152,060<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">7,068,483<span></span>
</td>
<td class="nump">7,831,084<span></span>
</td>
<td class="nump">6,679,024<span></span>
</td>
</tr>
<tr class="ro">
<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">14,490,011<span></span>
</td>
<td class="nump">7,068,483<span></span>
</td>
<td class="nump">7,831,084<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_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental disclosure of cash flow information:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_InterestPaid', window );">Interest paid, net of capitalized interest</a></td>
<td class="nump">13,284,899<span></span>
</td>
<td class="nump">$ 17,771,457<span></span>
</td>
<td class="nump">$ 19,657,071<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_IncomeTaxesPaid', window );">Income taxes paid</a></td>
<td class="nump">2,726,825<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 payables</a></td>
<td class="nump">52,523,129<span></span>
</td>
<td class="nump">$ 79,989,590<span></span>
</td>
<td class="nump">$ 51,766,695<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Purchases of property, plant and equipment included in amounts due to related parties</a></td>
<td class="nump">$ 262,974<span></span>
</td>
<td class="nump">$ 5,651,053<span></span>
</td>
<td class="nump">$ 940,135<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 amount of deferred tax 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;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dq_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">dq_IncreaseDecreaseInAdvancePayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">dq_IncreaseDecreaseInPrepaidExpensesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- Definition</a><div><p>Noncash Investing Activities [Abstract]</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 style="white-space:nowrap;">dq_NoncashInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ProvisionForReversalOfDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 (income) 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>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 style="white-space:nowrap;">dq_ProvisionForReversalOfDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalExpendituresIncurredButNotYetPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashDivestedFromDeconsolidation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInCustomerAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInNotesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInNotesReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherDeferredLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4542-108314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryWriteDown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PaymentsOfStockIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 cost incurred directly with the issuance of an equity security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfStockIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromBankDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the additional capital contribution to 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ProceedsFromMinorityShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 a noncontrolling interest. Includes, but is not limited to, purchase of additional shares or other increase in noncontrolling interest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromMinorityShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfBankDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817319712">
<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><th class="th"><div>Dec. 31, 2015</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>ORGANIZATION AND PRINCIPAL ACTIVITIES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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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_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock', window );">ORGANIZATION AND PRINCIPAL ACTIVITIES</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font>1</font>. ORGANIZATION AND PRINCIPAL ACTIVITIES</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">The consolidated financial statements include the financial statements of Daqo New Energy Corp. (the &#147;Company&#148;), its wholly owned subsidiaries, Chongqing Daqo New Energy Co., Ltd. (&#147;Chongqing Daqo&#148;), &#160;Xinjiang Daqo New Energy Co., Ltd (&#147;Xinjiang Daqo&#148;), Daqo Solar Energy North America (&#147;Daqo America&#148;) (which was liquidated in 2013) and Daqo New Energy Holdings (Canada) Ltd.(&#147;Daqo Canada&#148;) (which was liquidated in 2013) and its consolidated variable interest entity (&#147;VIE&#148;) Daqo New Material Co., Ltd. (&#147;Daqo New Material&#148;) (which was deconsolidated on December 31, 2013) (collectively, the &#147;Group&#148;).</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Company was incorporated on November&#160;22,
2007 in the Cayman Islands. Chongqing Daqo, and Xinjiang Daqo were incorporated by the Company on January&#160;14, 2008, December&#160;20,
2007 and February&#160;22, 2011, respectively, in the Peoples' Republic of China (&#147;PRC&#148;). 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="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">Daqo New Material and the Company were under common control by Daqo New Material's ultimate shareholders prior to November 11, 2009. Daqo New Material was established by Daqo Group, an affiliate of the Company on November&#160;16, 2006, for the primary purpose of developing a photovoltaic business. Daqo New Material'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's land and production infrastructure.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;">&#160;</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's land, production infrastructure
and machinery and equipment for the Group's polysilicon production. The lease period was from July&#160;1, 2008 to December&#160;31,
2013, with monthly lease payments that had been renegotiated periodically and were 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
had 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
desired to transfer the ownership of the leased assets to a third party, Chongqing Daqo had the right of first refusal to acquire
the leased assets under the same conditions. If the leased assets were transferred to a third party, the lease agreement was remain
effective and enforceable against the new owner.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; 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'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 Material, 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's total equity interests in Daqo New Material are presented as a noncontrolling interest.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; 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.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">In the periods presented, the Group manufactured and sold polysilicon and wafers through Chongqing Daqo and Xinjiang Daqo.</p> <p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"><br/></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">In August 2015, the Company's subsidiary, Xinjiang Daqo, issued stock representing <font>1</font>% equity interest &#160;to Daqo Xinjiang Investment Co., Ltd. ("Xinjiang Daqo Investment"), an affiliated company which is <font>100</font>% held by Daqo Group, for total cash proceeds of $<font>2.5</font> million, which is based on the fair value of Xinjiang Daqo. Xinjiang Daqo Investment's equity interests in Xinjiang Daqo are presented as a noncontrolling interest in the Group's consolidated financial statements.<br/></p>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810983328">
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<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>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>2. SUMMARY OF PRINCIPAL ACCOUNTING POLICIES</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(a) Basis of presentation</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 ("U.S. GAAP").</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">The accompanying consolidated financial statements have been prepared assuming that the Group 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 Group's ability to generate cash flows from operations, and the Group'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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">As of December 31, 2015, the Company's current liabilities exceed its current assets by $<font>186.6</font>&#160;million. While the Company had cash and cash equivalents of $ <font>14.5</font>&#160;million, short-term borrowings, including current portion of long-term bank borrowings of &#160;$<font>123.9</font> million will be due within one year. Additionally, the Company has capital commitments of $<font>15.5</font>&#160;million relating to the purchases of property, plant and equipment to be fulfilled in the next twelve months.&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">However, the Group&#160;regards the going concern assumption as appropriate considering the following plans and actions:</p>
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<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">1.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Group generated net income and positive cash flow from operations for <font>two</font> consecutive years.</font></td>
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<td style="width: 0.25in;">&#160;</td>
<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</td>
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<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Group has performed a review of its cash flow forecasts for the twelve month period ending December 31, 2016, and believes that its operating cash flow will be positive during the twelve month period ending December 31, 2016.</font></td>
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<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</td>
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<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">3.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Group has or is in the process of taking a number of cost reduction initiatives, including the new hydrochlorination system, technology improvement and polysilicon capacity expansion in Xinjiang.</font></td>
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<td style="width: 0.25in;">&#160;</td>
<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</td>
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<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">4.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">On February 22, 2016, the Group obtained a letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Group to ensure the Group has the funds required to satisfy its obligations as they come due in the normal course during the twelve months ending December 31, 2016. Further, the support letter provides that Daqo Group will not require the Group to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group before January 1, 2017, which at December 31, 2015 totaled $<font>46.4</font> million.</font></td>
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<td style="width: 0.25in;">&#160;</td>
<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</td>
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<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">5.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">As of December 31, 2015, the Group has available bank accepted note facilities of $<font>22.6</font> million. 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 of the loans and believes the Company will continue to be able to do so.</font></td>
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<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in;">Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Group's working capital and capital expenditures requirements, and to meet its short term debt obligations, other liabilities and commitments as they become due.</p>
</div>
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<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(b) Basis of consolidations</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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>
</div>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(c) Use of estimates</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">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 Group 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, useful lives and residual values of long-lived assets, impairment for long lived assets, valuation allowances for deferred tax assets, interest capitalization and certain assumptions used in the computation of share-based compensation and related forfeiture rates.</font> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Group revised the estimates of expected useful lives of property, plant and equipment on January 1, 2014, please refers to Note 2 (i) for details.</font></p>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(d) Concentration of credit risk</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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, restricted cash, accounts receivable and notes receivable.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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;">&#160;</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. Allowance for doubtful accounts is $<font>3,189,110</font>&#160;and $<font>1,087,465</font> as of December 31, 2014 and 2015, respectively, based on the aging of the receivables and the Group's assessment of the customers' credit risk.</p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div>
<div class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 86%; margin-left: 0.1px; margin-right: 0.1px;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">Accounts</font></strong></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="6" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>December 31,</strong></font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr>
<td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>receivable</strong></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><br/></td>
<td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 68%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer C</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,213,393</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer J</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>1,578,947</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,996,042</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer M</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,330,145</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer H</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,071,415</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">6,354,510</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer N</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,315,035</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr>
<td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer B</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,299,732</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>

</table>
</div>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div align="left" style="margin-top: 0; margin-bottom: 0;">
<div style="font-size: 1pt; border-top: Black 1pt solid; width: 15%;">&#160;</div>
</div>
<table width="100%" cellpadding="0" border="0" cellspacing="0" style="width: 100%;">

<tr>
<td style="width: 0.25in; padding-right: 0.8pt;">
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></p>
</td>
<td style="padding-right: 0.8pt;">
<div><font style="font-size: 10pt; font-family: 'times new roman', times;">Represents less than 10%</font></div>
</td>
</tr>

</table>
</div>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;">From time to time, certain accounts receivable balances are settled in the form of notes receivable. As of December 31, 2014 and 2015, notes receivable represents bank acceptance drafts that are non-interest bearing and due within 6 months.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;">&#160;&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Total sales to the Group's largest customers whose sales constitute over 10% of revenue accounted for approximately <font>30</font>%, <font>23</font>% and <font>51</font>% of revenues for the years ended December 31, 2013, 2014 and 2015, respectively. The Group is substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reduction in the Group's dependence on these customers is likely to take time and there can be no assurance&#160;that the Group will succeed in reducing such dependence.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Furthermore, <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">all of the Group's long-term bank borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Group's short term bank borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Group's access to credit is significantly reliant on Daqo Group's ability and willingness to continue to provide sufficient financial support</font>.</p>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(e) Cash and cash equivalents</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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>
</div>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(f) Restricted cash</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Restricted cash of&#160;$<font>22,169,236</font>&#160;and $<font>19,062,714</font>&#160;as of December 31, 2014 and 2015, respectively, are restricted bank 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>
</div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(g) Allowance for Doubtful Accounts</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;">&#160;</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.&#160;Provisions for allowance for doubtful accounts are recorded as general and administrate expense in the consolidated statements of operations.</p>
</div>
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<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(h) Inventories</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 31, 2013, 2014 and 2015 were $<font>29,905,734</font>, $ <font>175,568</font>&#160;and $<font>62,422</font>&#160;respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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;">&#160;</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;">&#160;</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>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(i) Property, plant and equipment</em></strong></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div>
<div class="CursorPointer" align="center">
<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; margin-left: 0.1px; margin-right: 0.1px;" width="85%">

<tr>
<td style="vertical-align: top; width: 82%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><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-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>30</font>&#160;years</font></td>
</tr>
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<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Machinery and equipment</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>15</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Furniture, fixtures and equipment</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>3</font>-<font>5</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Motor vehicles</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>6</font> years</font></td>
</tr>

</table>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group&#160;reassesses the reasonableness of the estimates of useful lives and residual values of long-lived assets when events or changes in circumstances indicate that the useful lives and residual values of a major asset or a major category of assets may not be reasonable. Factors that the Group&#160;considers in deciding when to perform an analysis of useful lives and residual values of long-lived assets include, but are not limited to, significant variance of a business or product line in relation to expectations, significant deviation from industry or economic trends, and significant changes or planned changes in the use of the assets. The analysis will be performed at the asset or asset category with the reference to the assets' conditions, current technologies, market, and future plan of usage and the useful lives of major competitors.</p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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: 23pt;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">In <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 33.7333335876465px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">2013, the Company decided to relocate a majority of Chongqing's polysilicon assets to Xinjiang. As part of the decision to make significant investment to relocate the assets, the Company&#160;revisited the expectation as to the useful lives of these assets. Based on this review, the Company determined that the condition of its major assets, having now been in operations for a meaningful percentage of the original estimated lives, were in better condition, than the original useful life expectation had predicted, accordingly, the Company with the assistant of an independent valuation firm reassessed the remaining economic useful life of the polysilicon assets in both Chongqing and Xinjiang. The analysis was completed in the first quarter of 2014</font>. Therefore, the Company revised the estimates of expected useful lives of long-lived assets from January 1, 2014. The useful lives of machinery and equipment were expended from <font>10</font> years to <font>15</font> years, while buildings and structures were expended from <font>20</font> years to <font>30</font> years. No changes were made to furniture, fixtures and equipment, or motor vehicles. During the years ended December 31, 2014 and 2015, the change in useful lives reduced depreciation expense of approximately $<font>18.7</font>&#160;million and $<font>18.7</font> million, a majority of which was recorded in "Total cost of revenues", accordingly the impact on net income and basic net income per share are $<font>18.7</font>&#160;million and $<font>0.09</font>&#160;per ordinary share, and $<font>18.7</font> million and $<font>0.07</font> per ordinary share, respectively.</p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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 Group&#160;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 31, 2013, 2014 and 2015 was $<font>nil</font>, $<font>1,960,259</font>&#160;and $<font>2,825,879</font>&#160;respectively.</p>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(j) Prepaid land use rights</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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'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 $<font>781,706</font>, $<font>628,052</font>&#160;and $<font>595,716</font>, for the years ended December 31, 2013, 2014 and 2015, respectively.</p>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(k) Impairment of long-lived assets</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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'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'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.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">During each of the three year ended December 31, 2013, 2014 and 2015, the impairment changes were $<font>158,424,827</font>, $<font>nil</font>&#160; and $<font>1,622,588</font>, respectively. The impairment loss incurred during the year ended December 31, 2013 was related to the buildings and plant of polysilicon asset group 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.&#160;The impairment loss of $1.6 million incurred during the year ended December 31, 2015 was related to the identified relocation assets in Chongqing that were not transferrable and could not be reutilized by its Xinjiang expansion project. Please refer to Note 3 for further information.</p>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(l) Revenue recognition</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="text-decoration: underline;">Product sales</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="text-decoration: underline;">Service revenue</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Group also provides OEM services to customers, such as the provision of service to process polysilicon into ingots and wafers. The Group 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</font>.</p>
</div>
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<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(m) Cost of revenues</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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. Cost of revenues does not include shipping and handling expenses, therefore the Group's cost of revenues may not be comparable to other companies which include such expense in their costs of revenues.</p>
</div>
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<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(n) Shipping and handling</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 $<font>1,901,384</font>, $<font>2,054,786</font>&#160;and $<font>2,708,962</font>, respectively for the years ended December 31, 2013, 2014 and 2015.</p>
</div>
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<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(o) Research and development expenses</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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, 2014 and 2015, the Group 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>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(p) Government subsidies</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 31, 2013, 2014 and 2015 were $<font>5,249,788</font>, $<font>926,173</font>&#160;and $<font>3,578,865</font>, respectively.&#160;For government grants related to assets are recorded as long term liabilities and amortized on a straight-line basis over the useful life of the associated asset as an offset to depreciation expense. The Group&#160;received government grants related to assets of $<font>1,172,160</font>, $<font>113,735</font>&#160;and $<font>690,889</font>&#160;during the years ended December 31, 2013, 2014 and 2015, respectively.</p>
</div>
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<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(q) Income taxes</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</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>
</div>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(r) Share-based compensation</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group recognizes share-based compensation in the consolidated 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 or&#160;cost of sales, depending on the job functions of the grantees. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the years ended December 31, 2013, 2014 and 2015, the Group recognized share-based compensation expense of $1,881,401, &#160;$1,792,819 and $3,687,951, respectively, which was classified as follows:</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
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<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Year ended December 31,</strong></font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Selling, general and administrative expenses</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,743,768</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,544,078</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">3,323,948</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Research and development expenses</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">60,987</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">12,310</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Cost of sales</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">76,646</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">236,431</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">364,003</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2.80pt double;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>1,881,401</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>1,792,819</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>3,687,951</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>

</table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(s) (Loss) earnings per share</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Basic (loss) earnings per ordinary share are computed by dividing the net (loss) net income 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: 0.5in;">&#160;</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.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(t) Foreign currency translation</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The reporting currency of the Company&#160;is the United States dollar (&#147;U.S. dollar&#148;). 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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The financial records of the Company's PRC subsidiaries and VIE are maintained in Chinese Renminbi (&#147;RMB&#148;), 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;">&#160;</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's Republic of China, under the authority of the People'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's aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $<font>24,356,970</font>&#160;and $<font>30,891,550</font> as of December 31, 2014 and 2015, respectively.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(u) Comprehensive income</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 (Loss) Income as required by new accounting guidance, which we retrospectively adopted during 2012. As of December 31 2014 and 2015, 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; text-indent: 0.5in;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(v) Fair value of financial instruments</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group&#160;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;">&#160;</p>
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<td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">&#149;</font></td>
<td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td>
<td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Level 1&#151;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>
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<td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Level 2&#151;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>
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<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'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's consolidated assets, liabilities, shareholders' equity and net income or loss.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(w) Variable Interest Entity</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
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</div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(x) Noncontrolling interest</em></strong></p>
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</div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(y) Treasury Stock</em></strong></p>
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</div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(z) Recent accounting pronouncements</em></strong></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">On August 27, 2014, the FASB issued ASU 2015-15, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements (or within one year after the date on which the financial statements are available to be issued, when applicable). Further, an entity must provide certain disclosures if there is &#147;substantial doubt about the entity's ability to continue as a going concern.&#148; The ASU is effective for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The Group&#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">In May 2014, the FASB issued a new pronouncement which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition&#151;Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g. assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles&#151;Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"></font><br/></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 1: Identify the contract(s) with a customer.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 2: Identify the performance obligations in the contract.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 3: Determine the transaction price.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 4: Allocate the transaction price to the performance obligations in the contract.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">For a public entity, the amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. An entity should apply the amendments in this ASU using one of the following two methods:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">1. Retrospectively to each prior reporting period presented and the entity may elect any of the following practical expedients:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">2. Retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. If an entity elects this transition method it also should provide the additional disclosures in reporting periods that include the date of initial application of:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">In January 2015, the FASB issued a new pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. This ASU required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. This ASU will also align more closely U.S. GAAP income statement presentation guidance with IAS 1, Presentation of Financial Statements, which prohibits the presentation and disclosure of extraordinary items. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Group has already considered the impact on its consolidated financial statements as of December 31, 2015.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">In January, 2016, the FASB issued a new pronouncement which is intended to improve the recognition and measurement of financial instruments. The ASU affects public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income;</font></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes;</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements;</font></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as &#147;own credit&#148;) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments.</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;">The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. The Group&#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.</p>
<p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;"><br/></p>
<p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;">On March 30, 2016, the FASB&#160;issued ASU&#160;2016-09, which simplifies several aspects&#160;of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new guidance, which is part of the Board's simplification initiative,&#160;also contains two practical expedients under which nonpublic entities can use the simplified method&#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards which nonpublic entities can use the simplified method&#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In the period of adoption, entities are
required to disclose:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#160;</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: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#149;</font></td><td>The nature of and reason for the changes in accounting principle; and</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&#160;</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: 0.25in"></td><td style="width: 0.25in"><font style="font-family: Symbol">&#149;</font></td><td>Any cumulative effects of the changes on retained earnings or other components of equity as of the date of adoption.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In addition, because the change in presentation
in the statement of cash flows related to excess tax benefits can be applied either prospectively or retrospectively, entities
are required to disclose either (1) &#147;that prior periods have not been adjusted&#148; if the change is applied prospectively
or (2) the &#147;effect of the change on prior periods retrospectively adjusted&#148; if the change is applied retrospectively.
For the change in presentation in the statement of cash flows related to statutory tax withholding requirements, entities are required
to disclose the &#147;effect of the change on prior periods retrospectively adjusted.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;">For public business entities, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that apply must be adopted in the same period. In addition, if early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.</p>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817345392">
<tr>
<th class="tl" colspan="1" rowspan="2"><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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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font>3</font>. EXIT and DISPOSAL ACTIVITIES</strong></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><em>&#160; &#160; &#160; &#160; &#160; Relocation of Polysilicon Operations to Xinjiang</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Starting 2013, the Group commenced 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 $ <font>144.7</font>&#160;million, from Chongqing Daqo to its Xinjiang plant. In connection with this relocation plan, the Group&#160;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 Polysilicon Phase II Expansion Project plan. Therefore, the Group&#160;recorded an impairment charge of $<font>158.4</font>&#160;million in connection with this decision in the second quarter of 2013 and subsequently terminated its lease arrangement with Daqo New Material on December 30, 2013. As of December 31, 2013, the Group&#160;has incurred approximately $<font>0.8</font>&#160;million in employee termination costs and $<font>0.5</font>&#160;million in connection with relocation costs, all of which were recorded in selling, general and administrative expenses.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">In August 2014, the Board of Directors approved the Company to launch an early stage research for the Polysilicon Phase III Expansion Project in Xinjiang. After a&#160;comprehensive analysis of the capacity and comparability of the Chongqing machinery and equipment, the Company concluded that it would be more efficient to use part of the machinery and equipment in Phrase III, rather than using all of them in Phrase II Expansion Project. As a result, the Company has changed its original relocation plan and determined to utilize a portion of these equipment and machinery in Polysilicon Phase III Expansion Project in Xinjiang.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">As of December 31, 2014, about $<font>46.1</font>&#160;million (equivalently RMB&#160;<font>286.4</font> million) of $<font>116.1</font> million (equivalently RMB<font>720.5</font> million) of the machinery and equipment have been relocated from Chongqing Daqo to its Xinjiang plant for Polysilicon Phase II Expansion Project, which is expected to be fully ramp up by the end of the second quarter of 2015. The Company&#160;expects to complete the Polysilicon Phase III Expansion Project by early 2017, and the remaining machinery and equipment of $<font>70.0</font> million (equivalently RMB<font>434.1</font> million) will be relocated from Chongqing to Xinjiang then. The change to the original relocation plan indicated that the carrying amount of the remaining machinery and equipment of $70.0 million may not be recoverable as of December 31, 2014. The Group with the assistant of an independent valuation firm performed the recoverability&#160;testing. As a result, the Group concluded that the estimated sum of the undiscounted cash flows expected to be generated from the use and eventual disposition of the polysilicon group were in substantial excess of the carrying amount, and no impairment was noted as of December 31, 2014.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;<br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">During the year ended December 31, 2014, additional&#160;$<font>0.8</font>&#160;million relocation cost occurred, which was recorded in selling, general and administrative expenses. No material liabilities, including contract termination costs, are recorded in connection with this relocation plan as of December 31, 2014.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; line-height: normal; font-size: 11pt; font-family: Calibri, sans-serif;"><font style="font-size: 10.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';">As originally planned, the Group has fully ramp up its Polysilicon Phase II Expansion Project since August 2015, and then the capacity of Xinjiang Daqo is increased from 6,150MT to 12,150MT. Additionally, in July 2015, the Board of Directors approved the first stage of Phase III Expansion Project, which is expected to increase the capacity from 12,150 MT to 18,000 MT. The Company plans to commence initial production and fully ramp up this expansion project by the first quarter and second quarter of 2017 respectively. Construction and equipment installation is expected to be completed by the end of 2016. In 2015, the Group has already started initial work, including but not limited to applications for relevant government permits and approvals.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; line-height: normal; font-size: 11pt; font-family: Calibri, sans-serif;"><font style="font-size: 10.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; line-height: normal; font-size: 11pt; font-family: Calibri, sans-serif;"><font style="font-size: 10.0pt; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman';">As a significant part of Phase III Expansion Project in Xinjiang, the Group&#160;is in the process of relocating and repurposing the remaining polysilicon machinery and equipment in Chongqing&#160;of $<font>59.1</font> million (equivalently RMB<font>383.9</font> million). In November 2015, the Group together with a professional transport company reviewed all the remaining assets for the relocation preparation under the Phase III Expansion Project. Along with the complicated and comprehensive relocation preparation, the Group&#160;identified assets of $<font>1.6</font> million that were not transferrable and could not be reutilized by its Xinjiang expansion project. Accordingly, an impairment charge of $<font>1.6</font> million was recognized as of December 31, 2015. In late 2015, the polysilicon machinery and equipment in Chongqing of $<font>1.1</font> million (equivalently RMB<font>7.0</font> million) was relocated from Chongqing to Xinjiang. To keep these machinery and equipment in good condition in Chongqing, the Company is required to spend approximately $<font>0.3</font>&#160;million on a quarterly basis, including $<font>0.2</font>&#160;million wages and $<font>0.1</font>&#160;million electricity fees. The Company believe that the remaining polysilicon machinery and equipment in Chongqing will be gradually relocated and incorporated in the expansion project in Xinjiang&#160;during 2016.</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="font-size: 10.0pt; line-height: 115%; font-family: 'Times New Roman','serif'; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">During the year ended December 31, 2015, additional $<font>0.1</font> million relocation cost occurred, which was recorded in selling, general and administrative expenses. No material liabilities, including contract termination costs, are recorded in connection with this relocation plan as of December 31, 2015, and the Company expects to incur additional costs of $<font>2.2</font> million in relocating the equipment.</font></p>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810900832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FOLLOW-ON EQUITY OFFERING<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10pt;"><strong style="font-size: 10pt;">4. FOLLOW-ON EQUITY OFFERING</strong></font><br/></p> <p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.95pt">In May 2014, the Company issued and sold <font>2,000,000</font> America depositary shares ("ADSs"), representing <font>50,000,000</font> ordinary shares, through a follow-on equity offering. The proceeds, net of issuance cost of $<font>3.4</font> million, were $<font>54.6</font> million.</p><p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font-size: 10pt; text-indent: 22.95pt; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10pt;">In February 2015, the Company issued&#160;<font>1,540,000</font>&#160;America depositary shares ("ADSs"), representing <font>38,500,000</font>&#160;ordinary shares, through a follow-on public&#160;offering. The proceeds, net of issuance cost of $<font>2.0</font>&#160;million, were $<font>28.0</font>&#160;million.</font><br/></p> </div><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817356688">
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<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="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>5. ALLOWANCES FOR DOUBTFUL RECEIVABLES</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;">The Group made provisions for doubtful accounts receivables in the aggregate amount of $5,482,019 during the year ended December 31, 2013. The Group reversed provision for doubtful accounts receivables in the aggregate amount of $3,823,744 and $2,026,567 during the year ended 2014 and 2015 respectively.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;">&#160;&#160;<br/></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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Beginning of the year</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,592,467</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">7,160,782</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">3,189,110</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Allowances (Reversal) during the year</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">5,482,019</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(3,823,744</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(2,026,567</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Foreign exchange effect</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">86,296</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(147,928</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(75,078</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Closing balance</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></strong></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font><font style="font-size: 10pt; font-family: 'times new roman', times;">7,160,782</font></font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></strong></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font><font style="font-size: 10pt; font-family: 'times new roman', times;">3,189,110</font></font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></strong></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,087,465</font></font></strong></td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS<br></strong></div></th>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Spare parts</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">6,052,315</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">5,857,017</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">5,552,772</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">226,564</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">347,631</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Others</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">366,900</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">282,423</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>12,835,869</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>12,235,141</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810935392">
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<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>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>7. INVENTORIES</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Inventories consist of the following:</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<td style="font-family: 'Times New Roman';">&#160;</td>
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<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
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<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Raw materials</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>1,362,944</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>2,343,104</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
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<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Work-in-process</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>5,411,360</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>5,626,531</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Finished goods</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"><font>2,807,480</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"><font>2,746,304</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>9,581,784</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>10,715,939</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Inventory write-down was $<font>29,905,734</font>, $<font>175,568</font>&#160;and $<font>62,422</font>&#160;for the years ended December&#160;31, 2013, 2014 and 2015, respectively.</p>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 6<br> -Subparagraph a, b, c<br> -Article 5<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810835824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PROPERTY, PLANT AND EQUIPMENT, NET<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</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">&#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_PropertyPlantAndEquipmentDisclosureTextBlock', window );">PROPERTY, PLANT AND EQUIPMENT, NET</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>8. PROPERTY, PLANT AND EQUIPMENT, NET</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div class="CursorPointer" style="margin-left: 0.28in;">
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
</tr>
<tr>
<td style="text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Cost</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 70%;">Buildings and plant</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font>233,230,935</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font>313,290,516</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Machinery and equipment</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>351,409,724</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>389,373,554</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Furniture, fixtures and equipment</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>18,469,913</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>22,418,768</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Motor vehicles</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>257,408</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>293,331</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Less: Accumulated depreciation</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(169,264,463</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(188,680,279</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Property,&#160;plant&#160;and&#160;equipment,&#160;net&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>434,103,517</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>536,695,889</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Construction in process</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>124,902,602</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>7,630,236</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>559,006,119</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>544,326,125</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>

</table>
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</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Depreciation expense was $<font>52,250,595</font>, $<font>28,007,943</font>&#160;and $<font>31,361,026</font>&#160;for the years ended December&#160;31, 2013, 2014 and 2015, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Company&#160;recognized impairments for long-lived assets of <font style="font: 10pt Times New Roman, Times, Serif;">$</font><font style="font: 10pt Times New Roman, Times, Serif;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>158,424,827</font></font></font><font style="font: 10pt Times New Roman, Times, Serif;">, $</font><font style="font: 10pt Times New Roman, Times, Serif;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>nil</font></font></font><font style="font: 10pt Times New Roman, Times, Serif;">&#160;and $<font>1,622,588</font>&#160;during the years ended December 31, 2013, 2014 and 2015, respectively.</font></p>
</div><span></span>
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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></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13-14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1361-107760<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></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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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810947536">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BORROWINGS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>9. BORROWINGS</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group's bank borrowings consisted of the following:</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div class="CursorPointer" style="margin-left: 0.28in;">
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr>
<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Short-term bank borrowings</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>90,443,007</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>72,360,730</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Long-term bank borrowings, current portion</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font>69,360,869</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font>51,576,265</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Total borrowings, current</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>159,803,876</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>123,936,995</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Long-term bank borrowings, non-current portion</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>77,336,160</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>118,548,430</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>237,140,036</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>242,485,425</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>Short-term bank borrowings</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group's short-term bank borrowing consisted of the following:</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer" style="margin-left: 0.28in;">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%; background-color: #cceeff;">Short-term bank borrowing guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xiang Xu</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>27,389,890</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70px;">Short-term borrowing guaranteed by Daqo Group and related parties</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"><font><font>-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"><font><font>72,360,730</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Short-term borrowing guaranteed by Daqo Group and&#160;a third party</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>11,278,190</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Short-term&#160;credit bank borrowings</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>51,774,927</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="background-color: #cceeff;">
<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong>$</strong></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong><font>90,443,007</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong>$</strong></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong><font>72,360,730</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>

</table>
</div>
</div>
<div class="CursorPointer">&#160;<br/></div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group&#160;had available credit of $<font>22.6</font>&#160;million under its short-term bank facilities with various banks as of December 31, 2015.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt;">The weight average interest rate on the short-term bank borrowing was <font>6.8</font>% and <font>5.4</font>% as of December 31, 2014 and 2015.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px;"><b>Long-term bank borrowings</b></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;"><br/></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">The<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"> long-term bank borrowings, including current portion, as of December 31, 2014 and 2015 are comprised of</font>:&#160;</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 23pt;">&#160;</p>
<div>
<div>
<div style="margin-left: 0.28in;">
<table style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;" cellpadding="0" cellspacing="0">

<tr style="vertical-align: bottom;">
<td>&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">December 31,</td>
<td style="padding-bottom: 1pt; font-weight: bold;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td>&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">2014</td>
<td style="padding-bottom: 1pt; font-weight: bold;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">2015</td>
<td style="padding-bottom: 1pt; font-weight: bold;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: -10pt; padding-left: 10pt; width: 70%; background-color: #cceeff;">Borrowing from China Construction Bank</td>
<td style="width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; width: 12%; background-color: #cceeff;"><font>6,444,680</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; width: 12%; background-color: #cceeff;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: -10pt; padding-left: 10pt;">Borrowing from Huaxia Bank</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;"><font>25,778,720</font></td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;"><font>3,079,180</font></td>
<td style="text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: -10pt; padding-left: 10pt; background-color: #cceeff;">Borrowing from Bank of China</td>
<td style="background-color: #cceeff;">&#160;</td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; background-color: #cceeff;"><font>101,503,710</font></td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
<td style="background-color: #cceeff;">&#160;</td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; background-color: #cceeff;"><font>70,821,140</font></td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt;">Borrowing from Chongqing Rural Commercial Bank</td>
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"><font>12,969,919</font></td>
<td style="padding-bottom: 1pt; text-align: left;">&#160;</td>
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"><font>96,224,375</font></td>
<td style="padding-bottom: 1pt; text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"><font>&#160;</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"><font>&#160;</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<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;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;">$</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"><font>146,697,029</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 2.5pt;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;">$</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"><font>170,124,695</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;">&#160;</td>
</tr>

</table>
</div>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">On September 28, 2011, Chongqing Daqo entered into a four-year credit facility agreement with Huaxia Bank with maximum amount of $<font>61.6</font>&#160;million (RMB<font>400</font> million). Chongqing Daqo drew down $<font>58.5</font>&#160;million (RMB<font>380</font> million), including: $<font>20.0</font>&#160;million (RMB<font>130</font> million) with fixed interest rate of <font>6.65</font>%, which is designated for working capital and $<font>38.5</font>&#160;million (RMB<font>250</font> million) with fixed interest rate of <font>6.9</font>% which is restricted to the purchase of fixed assets. Chongqing Daqo used the remaining facility of $<font>3.1</font>&#160;million (RMB<font>20</font> million) through use of bank acceptance notes. As of December 31, 2015, Chongqing Daqo had repaid <font>55.4</font>&#160;million (RMB<font>360</font> million) and had no facility available for future draw down. This credit facility is guaranteed by Daqo Group and also collateralized by Chongqing Daqo's land use right and plant amounting to $<font>8.1</font>&#160;million as of December 31, 2015.&#160;The facility contains a financial covenant, and Chongqing Daqo was in compliance as of December 31, 2015.<br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">On September 30, 2011, Xinjiang Daqo entered into a six-year long term facility agreement with Bank of China. Such borrowing is restricted to the purchase of fixed assets and has a maximum borrowing credit amounted to $<font>115.5</font>&#160;million (RMB<font>750</font> million<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; /* background-color: #feffc0;">),</font> bearing interest at standard five-year long term interest rate issued by People's Bank of China plus <font>5</font>%. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The borrowing is guaranteed by Daqo Group, Daqo New Material, two affiliated companies under Daqo Group and Mr.&#160;Guangfu Xu.&#160;On June 30, 2014, an amendment to this credit facility was signed between Xinjiang Daqo and Bank of China, under which machinery and equipment with a total carrying amount of</font>&#160;$<font>73.9</font>&#160;<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">million was pledged as collaterals for this credit facility. As of December 31, 2015, Xinjiang Daqo had drawn down $<font>115.5</font> million (RMB<font>750</font> million) at an interest rate of <font>5.41</font>% and repaid $<font>44.6</font> million (RMB<font>290</font> million) as of December 31, 2015. No facility is available for further draw down as of December 31, 2015. The borrowing contains a financial covenant, and Xinjiang Daqo was in compliance as of December 31, 2015.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 23pt;">On June 25, 2015, Xinjiang&#160;Daqo entered into a six-year long term facility agreement with Chongqing Rural Commercial Bank. Such borrowing is restricted to renovation and extension project of polysilicon and has a maximum borrowing credit amounted to $<font>96.2</font>&#160;million (RMB<font>625</font>&#160;million), with an interest rate <font>20</font>% above the five-year long term interest rate issued by People's Bank of China. The borrowing is guaranteed by Daqo Group and four affiliated companies under Daqo&#160;Group. As of December 31, 2015, Xinjiang&#160;Daqo had drawn down $<font>96.2</font>&#160;million (RMB<font>625</font>&#160;million) at an interest rate of <font>5.8</font>% and had no facility available for future draw down. There is 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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The weighted average interest rate as of December 31, 2014 and 2015 for the Group's long-term bank borrowings was <font>6.9</font>% and <font>5.7</font>%, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 31, 2015 are as follows:</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.3in;">

<tr style="vertical-align: bottom;">
<td style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font: 10pt Times New Roman, Times, Serif;"><strong>December 31, 2015</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>Amount</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 85%; background-color: #cceeff;">2016</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>51,576,265</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">2017</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>53,885,650</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">2018</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,475,080</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">2019</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>18,475,080</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;">2020</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font><font>18,475,080</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">2021</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font><font>9,237,540</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;">&#160;</td>
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<td style="text-indent: 0px; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>170,124,695</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; /* border-style: none none double; */border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817319712">
<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>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>10. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div class="CursorPointer">
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<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
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<tr>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"><strong>2014</strong></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%; background-color: #cceeff;">Accrued payroll and welfare</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>3,309,850</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>3,524,876</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Accrued professional fees</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>576,786</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>776,518</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Other tax payables</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,263,055</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,298,780</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Interest payable</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>148,995</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>38,054</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 20px; background-color: #cceeff;">Contingent liability (Note 18)</td>
<td style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font><font>400,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font>&#151;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
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<td style="font-family: 'times new roman'; padding: 0px;">Others</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>2,256,977</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>1,978,603</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><strong>Total </strong></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"><strong>$</strong></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"><strong><font>8,955,663</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"><strong>$</strong></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"><strong><font>8,616,831</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a),20,24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810963840">
<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, 2015</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">&#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_DeferredRevenueDisclosureTextBlock', window );">ADVANCES FROM CUSTOMERS</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>11. ADVANCES FROM CUSTOMERS</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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's revenue recognition policy.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 term and short term portion respectively:</p>
<div>
<div style="display: block;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse; margin-left: 0.27in;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr style="background-color: #ffffff;">
<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Customer E</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>8,041,836</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>3,237,308</font><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Customer F</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,405,619</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,517,402</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Customer I</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>&#151;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,539,590</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Customer L</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>111</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>781,342</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Others</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>262,636</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>1,107,734</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>10,710,202</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>8,183,376</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Less:&#160;Current&#160;portion&#160;of&#160;advances&#160;from&#160;customers&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>7,308,535</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><strong>&#160;</strong></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><strong>&#160;</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>8,183,376</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Long term advances from customers</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>3,401,667</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><strong><font>&#151;</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.3(b).Q1(c),(b).Q2,(c).Q3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6787964560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</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_FairValueDisclosuresAbstract', window );"><strong>FAIR VALUE MEASUREMENTS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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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_FairValueDisclosuresTextBlock', window );">FAIR VALUE MEASUREMENTS</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>12. 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border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;">&#160;</td> <td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;">$</td> <td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"><br/></td> <td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;">&#160;</td> <td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;">&#160;</td> <td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;">$</td> <td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"><font>1,622,588</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;">&#160;</td> </tr>  </table> </div> </div>  <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 21.3pt;">During the year ended December 31, 2014, long-lived assets held and used with a carrying amount of $<font>308</font> million were written down to their fair value of $<font>150</font> million, resulting in an impairment charge of $<font>158</font> million, about $<font>143</font> million of this amount related to Daqo New Material. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; 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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. Along with the complicated and comprehensive relocation preparation for the remaining assets in Chongqing, the Company together with a professional transport company identified the assets with a carrying amount of $<font>1.6</font> million that were not transferrable and could not be reutilized by its Xinjiang expansion project, and these assets were written down to their fair value of <font>zero</font>, which was closed to their salvage value, as of December 31, 2015. Therefore there was an impairment charge of $<font>1.6</font> million in 2015. See Note 3, &#147;Relocation of Polysilicon Operations to Xinjiang&#148; for further details.</font></p> </div><span></span>
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<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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817264000">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>13. MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION</strong></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(a) China Contribution Plan</em></strong></p>
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<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' salaries. Contributions to defined contribution plans are expensed as incurred. During the years ended December&#160;31, 2013, 2014 and 2015, the Group recognized $<font>3,142,213</font>, $<font>3,130,308</font>&#160;and $<font>4,087,334</font>&#160;respectively.</p>
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<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 distribute its after-tax profits of the current year and draw&#160;10&#160;percent of the profits as <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">the company's statutory common reserve. The company may stop drawing the profits if the aggregate balance of the common reserves has already accounted for over</font>&#160;50&#160;percent of the company's registered capital. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The common reserves shall be used for making up losses, expanding the production and business scale or increasing the registered capital of the company.</font>&#160;As of December 31, 2013, 2014 and 2015,<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"> the Group's aggregate balance of the statutory common reserves was</font>&#160;$<font>16,803,191</font>, $<font>20,190,729</font>&#160;and $<font>17,720,748</font>&#160;respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">In accordance with relevant PRC laws and regulations, the Group's PRC subsidiaries are prohibited to make distribution of their registered capital and statutory reserves in the form of cash dividends, loans or advances and the relating restricted portion amounted to $</font><font>213,794,097</font> as of December 31, 2015.</p>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827641920">
<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, 2015</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_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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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_IncomeTaxDisclosureTextBlock', window );">INCOME TAXES</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>14. INCOME TAXES</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>Cayman Islands Tax</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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. In year 2015, the Company received deemed dividend distribution of $<font>1.1</font> million from its subsidiary Xinjiang Daqo as a result of its restructuring for the potential listing on the New Third Board in PRC. In accordance with the tax laws and regulations of the PRC, the Company paid the income tax of $<font>0.1</font> million to the relevant PRC tax bureau.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>PRC Tax</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Company's subsidiaries are registered in the PRC as foreign invested enterprises. Under the Laws of the People's Republic of China on Enterprise Income Tax (the &#147;EIT Law&#148;) which are effective January 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;">&#160;</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'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 <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">(&#147;HTNE&#148;)</font>&#160;certificate for a valid period of 3 years till 2014. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">On November 10, 2015, Chongqing Daqo renewed the HTNE certificate for a valid period of 3 years till 2018.</font>&#160;During the years ended December 31, 2014 and 2015, 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;">&#160;</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 two&#160;years ended December 31, 2013.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 31, 2012 and 2013. On November 25, 2014, Xin Jiang Daqo was entitled to a preferential tax rate of 15%, because of the obtainment of a High and New Technology Enterprise <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">(&#147;HTNE&#148;)</font>&#160;certificate for a valid period of 3 years till 2016.<br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>United States</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 2013.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;&#160;</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 &#147;non-resident enterprises&#148;, 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 31, 2015, 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;">&#160;</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' technical merits, and measured the unrecognized benefits associated with the tax positions. The Group did not have any unrecognized tax benefits as of December 31, 2014 and 2015. 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;">&#160;</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 2014, the Group'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 31, 2013, 2014 and 2015.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Income tax expenses comprise:</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 55%; background-color: #cceeff;"><font style="font-size: 10pt;">Current Tax (Benefit) Expenses</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">(162,621</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">1,786,092</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Deferred Tax Expenses (Benefit)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,434,386</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(648,271</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>1,271,765</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>&#151;</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>1,137,821</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

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<div class="CursorPointer"><br/></div>
<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>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>December 31,</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; display: none;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; display: none;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="6" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; display: none;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"><font style="font-size: 10pt;">Net operating loss carried forward</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">27,349,606</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">22,549,975</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Inventory write-down</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">26,141</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Bad debt provision</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">478,367</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">163,120</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Government grants related to assets</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">498,582</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">166,922</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Long-lived asset impairment&amp;depreciation</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">21,009,037</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">19,624,021</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Others</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">748,018</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">485,776</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Sub-total</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">50,109,751</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">42,989,814</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Valuation Allowance</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(50,109,751</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(42,362,849</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>&#151;</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>626,965</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Deferred tax assets are analyzed as:</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Current</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Non-current</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">626,965</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
</div>
<div class="CursorPointer"><br/></div>
<div class="CursorPointer" style="text-indent: 30pt;"><font style="font-size: 10pt;">The changes of valuation allowance are as follows:</font></div>
<div class="CursorPointer">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;<br/></p>
<div style="color: #000000; font-family: 'Times New Roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;" class="CursorPointer">
<div>
<div style="display: block;" align="center">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.1px; margin-right: 0.1px;">

<tr>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"></font></td>
<td colspan="10" style="text-align: center; border-top-style: none; border-right-style: none; border-left-style: none; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"></font></td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">2013</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">2014</strong></font></td>
<td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">2015</strong></font></td>
<td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="width: 5px; background-color: #cceeff;">
<td style="vertical-align: bottom; width: 70%; background-color: #cceeff;"><font style="font-size: 10pt;">Beginning balance</font><br/></td>
<td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"><font style="font-size: 10pt;">$</font></td>
<td style="margin: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"><font><font style="font-size: 10pt;">37,682,733</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"><font style="font-size: 10pt;">$</font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">56,633,867</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"><font style="font-size: 10pt;">$</font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">50,109,751</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="width: 5px;">
<td style="vertical-align: bottom;"><font style="font-size: 10pt;">Additions (Reversal)</font></td>
<td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><br/></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">56,697,096</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><br/></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(5,168,917</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"><font style="font-size: 10pt;">)</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><br/></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(5,708,268</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="width: 5px; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;">Deconsolidation</font></td>
<td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"><font><font style="font-size: 10pt;">(39,357,744</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">&#151;</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr style="width: 5px;">
<td style="vertical-align: bottom;"><font style="font-size: 10pt;">Foreign exchange effect</font></td>
<td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"></td>
<td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">1,611,782</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap;"></td>
<td style="vertical-align: bottom; white-space: nowrap;"></td>
<td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(1,355,199</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"><font style="font-size: 10pt;">)</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"></td>
<td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(2,038,634</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="width: 5px; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Ending Balance</strong></font></td>
<td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"><font style="font-size: 10pt;"><strong style="undefined;align: left; margin: 0pt;">$</strong></font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">56,633,867</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"><font style="font-size: 10pt;"><strong style="undefined;align: left; margin: 0pt;">$</strong></font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">50,109,751</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"><font style="font-size: 10pt;"><strong style="undefined;align: left; margin: 0pt;">$</strong></font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">42,362,849</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
</div>
</div>
</div>
<div class="CursorPointer"><br/></div>
<div style="margin: 0px; text-indent: 30.6666660308838px;" class="CursorPointer"><font style="font-size: 10pt;">The Group uses the asset and liability method to record related deferred tax assets and liabilities. The Group&#160;considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of operating losses, forecasts of future profitability, the duration of statutory carry forward periods, the Group's experience with tax attributes expiring unused and tax planning alternatives. Valuation allowances have been established for deferred tax assets based on a more likely than not threshold. 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.</font></div>
<div style="margin: 0px; text-indent: 30.6666660308838px;" class="CursorPointer"><font style="font-size: 10pt;">&#160;</font></div>
<div style="margin: 0px; text-indent: 30.6666660308838px;" class="CursorPointer"><font style="font-size: 10pt;">The Group considers positive and negative evidences to determine whether some portion or all of the deferred tax assets will be more likely than not realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses and forecasts of future profitability. These assumptions require significant judgement and the forecasts of future taxable income are consistent with the plans and estimates the Group is using to manage the underlying businesses. Valuation allowances are established for deferred tax assets based on a more likely than not threshold. The Group's ability to realize deferred tax assets depends on its ability to generate sufficient taxable income within the carry forward periods provided for in the tax law. The Group has provided a full valuation allowance for the deferred tax assets relating to Chongqing Daqo as of December 31, 2014 and December 2015 in the amount of $50,109,751 and $42,362,849, respectively, as management is not able to conclude that the future realization of those net operating loss carry forwards and other deferred tax assets are more likely than not. As of December 31, 2015, the Group has a total operating loss carry forwards which is entirely relating to Chongqing Daqo, of $<font>90.2</font>&#160;million. These operating loss carryforwards are expected to be expired from 2017 to 2021.<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"><br/><br/></font></font></div>

<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>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 55%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">PRC Enterprise Income Tax</font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Preferential income tax rate of a subsidiary</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(2</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(9</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">Effect of different reversal rate</font></td>
<td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">3</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">1</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Additional tax deductions</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(1</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(12</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">Different tax rate in other jurisdictions</font></td>
<td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">6</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Changes in valuation allowance</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(26</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(3</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">Tax credits</font></td>
<td style="font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">(15</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">(3</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"><font style="font-size: 10pt;">Withhold tax</font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;"><font>&#151;</font>&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"><font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">%</font>&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;"><font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>&#151;</font></font>&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;<font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">%</font></font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;"><font>1</font>&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;<font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">%</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">Effective tax rate</font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">(1</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">)%</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">&#151;</font></font></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810834384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHARE BASED COMPENSATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</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_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">SHARE BASED COMPENSATION</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>15. SHARE BASED COMPENSATION</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">In December 2014, The Company's shareholders adopted the 2014 share incentive plan. The Company's shareholders have authorized the issuance of up to <font>21,000,000</font> ordinary shares underlying all options (including incentive share options, or ISOs), restricted shares and restricted share units granted to a participant under the plan, or the awards.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">During the years ended December 31, 2013, 2014 and 2015, the Company granted <font>140,000,</font>&#160;<font>6,274,166</font> and <font>8,134,375</font>&#160;share options respectively to its officers, directors and employees, respectively.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">On January 12, 2015, the Company granted options to acquire <font>600,000</font>&#160;ordinary shares to independent directors of the Company pursuant to the Option Plan. Twenty-five&#160;percent (<font>25</font>%) of the options will vest half- year following the service inception date,&#160;twenty-five&#160;percent (<font>25</font>%) of the options will vest on the second half year of service inception date, and the remaining forty percent (<font>50</font>%) of the options will vest in <font>twenty-four</font> equal installments over the next <font>two</font> years. The exercise price is $<font>0.87</font>.<br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">On January 12, 2015, the Company granted options to acquire <font>6,534,375</font>&#160;ordinary shares to employees and executive officers of the Company pursuant to the Option Plan. Twenty-five&#160;percent (<font>25</font>%) of the options will vest half- year following the service inception date, twenty-five&#160;percent (<font>25</font>%) of the options will vest on the second half year of service inception date, and the remaining forty percent (<font>50</font>%) of the options will vest in <font>thirty-six</font> equal installments over the next <font>three</font> years. The exercise price is $<font>0.87</font>.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">On January 12, 2015, the Company modified the exercise price to $0.87 for a total number of 6,274,166 previously granted options, in order to provide appropriate incentives to the relevant employees and executive officers of the Group. The fair value of the options under revised terms was $<font>0.55</font> and $<font>0.52</font>. The total incremental cost associated with the modification was $<font>241,557</font>, of which $<font>60,107</font> was recognized immediately for the options vested prior to the date of the modification and the remaining share-based compensation charges of $<font>181,470</font> will be recognized over a weighted-average period of <font>2.91</font> years.</font></p>
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<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;">&#160;</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>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;<br/></p>
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<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
<td valign="bottom" style="vertical-align: bottom;"><br/></td>
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<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
<td valign="bottom" style="vertical-align: bottom;"><br/></td>
<td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"><font style="font-size: 10pt;"><strong>Volatility</strong></font><br/><font style="font-size: 10pt;"><strong>rate</strong></font></td>
<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
<td valign="bottom" style="vertical-align: bottom;"><br/></td>
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<td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"><font style="font-size: 10pt;"><strong>Post-</strong></font><br/><font style="font-size: 10pt;"><strong>vesting</strong></font><br/><font style="font-size: 10pt;"><strong>forfeiture</strong></font><br/><font style="font-size: 10pt;"><strong>rate</strong></font></td>
<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
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<td style="width: 35%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">April 3, 2013</font><br/></td>
<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.29</font>%</font></td>
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<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.8</font> times</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>51.78</font>%</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0</font>%</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3</font>%</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td align="center" style="font-family: 'Times New Roman';">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year Ended December 31, 2014</strong></font></td>
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<td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Options<br/> granted</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
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<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Exercise<br/> multiple</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Volatility<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Dividend<br/> yield</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Post-<br/> vesting<br/> forfeiture<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"><font style="font-size: 10pt;">January 28, 2014</font><br/></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>2.77</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>3.0</font><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;">-</font><font>3.5</font>&#160;times</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>93.0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>3</font><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;">-</font><font>9.5</font>%</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td align="center" style="font-family: 'Times New Roman';">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year Ended December 31, 2015</strong></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Options<br/> granted</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Average<br/> risk-free<br/> rate of<br/> return</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Exercise<br/> multiple</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Volatility<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Dividend<br/> yield</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Post-<br/> vesting<br/> forfeiture<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"><font style="font-size: 10pt;">January 12, 2015</font><br/></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"><font style="font-size: 10pt;"><font>2.82</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: center; background-color: #cceeff;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>1.8</font>-<font>3</font> times</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center;"><font style="font-size: 10pt;"><font>93.0</font><font style="background-color: #cceeff;">%</font></font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"><font style="font-size: 10pt;"><font>0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"><font style="font-size: 10pt;"><font>5</font>%-<font>8</font>%</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>&#160;</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"><font style="font-size: 10pt;">July 06, 2015</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>3.20</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"><font style="font: 10pt Times New Roman, Times, Serif;"><font><font>3</font> times</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>91.0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>5</font>%</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>&#160;</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font>&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font>&#160;</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"><font style="font-size: 10pt;">September 09, 2015</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>2.94</font>%-<font>3.08</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"><font style="font: 10pt Times New Roman, Times, Serif;"><font><font>1.8</font>-<font>3</font> times</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font><font style="font-size: 10pt;"><font>91.0</font>%-<font>92.0</font>%</font></font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font><font style="font-size: 10pt;"><font>0</font>%</font></font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font><font style="font-size: 10pt;"><font>5</font>%-<font>8</font>%</font></font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;">&#160;</td>
</tr>

</table>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</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's best Estimation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;">&#160;</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 31, 2015 is as follows:</p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Number&#160;of<br/> Options</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Weighted<br/> Average<br/> Exercise<br/> Price</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Weighted<br/> Average<br/> Remaining<br/> Contract&#160;Life</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Aggregate<br/> Intrinsic<br/> Value</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; width: 40%; padding-left: 0px; padding-top: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Options outstanding on January 1, 2015</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">12,375,416</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.87</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"><font style="font-size: 10pt;">Granted</font></td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">8,134,375</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.59</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Forfeited</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(1,307,743</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.56</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"><font style="font-size: 10pt;">Expired</font></td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(557,882</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.59</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Exercised</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(1,115,625</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Options outstanding on December 31, 2015</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">17,528,541</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.50</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">7.48</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">2,973,866</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Options vested or expected to vest on December 31, 2015</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">12,978,233</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.40</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">6.12</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">3,499,985</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
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<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Options exercisable on December 31, 2015</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">9,965,138</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.42</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">6.38</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">2,434,628</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
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<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$<font>1,881,401,</font>&#160;$<font>1,792,819</font>&#160;and $<font>3,687,951</font>&#160;was recognized by the Company for the years ended December 31, 2013, 2014 and 2015, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 31, 2013, 2014 and 2015 was $<font>0.11,</font>&#160;$<font>0.98</font>&#160;and $<font>0.59</font>, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">As of December 31, 2015, there was $<font>5,279,522</font>&#160;in total unrecognized compensation cost related to non-vested stock options, which is expected to be recognized over a weighted-average period of <font>2.70</font>&#160;years.</p>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 50<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51659978&amp;loc=d3e25284-112666<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND BALANCES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">16. RELATED PARTY TRANSACTIONS AND BALANCES</strong></font></p>
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<td style="font-family: 'Times New Roman'; width: 97%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The relationships between the Group and related party are as follows:</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Relationship</strong></font></p>
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<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Group</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Group and the Group&#160;are controlled by same group of shareholders.</font></td>
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<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Zhenjiang&#160;Daqo&#160;Solar&#160;Co.&#160;Ltd<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">.(&#147;Zhenjiang&#160;Daqo)&#160;</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">An affiliated company which is <font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font>% held by Daqo Group</font></td>
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<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Solar Co. Ltd (&#147;Daqo Solar&#148;) </font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">An affiliated company which is <font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font>% held by Daqo Group</font></td>
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<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Nanjing Daqo New Energy Co.,Ltd<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">.(&#147;Nanjing Daqo&#148;)</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">An affiliated company which was <font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font>% held by the Group&#160;before September 28, 2012 and is <font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font>% held by Daqo Group since September 28, 2012</font></td>
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<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Xinjiang Investment Co., Ltd. ("Xinjiang Daqo Investment")</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">An affiliated company which is <font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font>% held by Daqo Group</font></td>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="color: black; font-family: 'times new roman', times; font-size: 10pt;">An affiliated company which is <font>100</font></font><font style="color: black; font-family: 'times new roman', times; font-size: 10pt;">% held by Daqo&#160;</font>Group, and was consolidated by the Company as VIE on&#160;December 31, 2013</font></p>
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<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Chongqing Daqo Tailai Electric Co., Ltd. (&#147;Chongqing Daqo Tailai&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
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<tr style="font-size: 10pt;">
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Nanjing Daqo Transformer Systems Co., Ltd. (&#147;Nanjing Daqo Transformer&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
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<tr style="font-size: 10pt;">
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Jiangsu Daqo Changjiang Electric Co., Ltd. (&#147;Jiangsu Daqo&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
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<tr style="font-size: 10pt;">
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Nanjing Daqo Electric Co., Ltd. (&#147;Nanjing Daqo Electric&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
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<tr style="font-size: 10pt;">
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Zhenjiang Klockner-Moeller Electrical Systems Co., Ltd. (&#147;Zhenjiang Moeller&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
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<tr style="font-size: 10pt;">
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Nanjing Intelligent Apparatus Co., Ltd. (&#147;Intelligent Apparatus&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
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<tr style="font-size: 10pt;">
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Nanjing Intelligent Software Co., Ltd. (&#147;Intelligent Software&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
</tr>
<tr style="font-size: 10pt;">
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">Daqo Investment Co., Ltd. (&#147;Daqo Investment&#148;)</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></td>
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<tr style="font-size: 10pt;">
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<p style="margin: 0px;"><font style="font-size: 10pt;">Shanghai Sailfar Electric Technology Co., Ltd. (&#147;Daqo Sailfar&#148;)</font></p>
<p style="margin: 0px;"><font style="font-size: 10pt;">Jiangsu&#160;Daquan&#160;High Voltage Switchgear Co.,Ltd<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">.( &#147;Jiangsu Daquan High Voltage&#148;)</font></font></p>
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<p style="margin: 0px;"><font style="font-size: 10pt;">Zhenjiang&#160;Electric Equipment Co.,Ltd.&#160;<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">( &#147;Zhenjiang Electric&#148;)</font></font></p>
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<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">
<p style="margin: 0px;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo Group</font></p>
<p style="margin: 0px;"><font style="font-size: 10pt;">An affiliated company which is <font>75</font>% &#160;held by Daqo&#160;Group</font></p>
<p style="margin: 0px;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo&#160;Group</font></p>
<p style="margin: 0px;"><font style="font-size: 10pt;">An affiliated company which is <font>100</font>% held by Daqo&#160;Group</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; width: 3%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">(2) &#160;</font></td>
<td style="border-left: none; border-right: none; border-top: none; border-bottom: none; font-family: 'Times New Roman'; width: 97%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Related party balances:</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p>
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<td style="padding-bottom: 1pt;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">December&#160;31,</font></td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
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<td style="padding-bottom: 1pt;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">2014</font></td>
<td style="font-weight: bold; padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-weight: bold; padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">2015</font></td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
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<td style="text-align: left;"><font style="font-size: 10pt;">Amounts due from related parties</font></td>
<td>&#160;</td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;">&#160;</td>
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<td style="width: 654.671875px; text-align: left; text-indent: -10pt; padding-left: 10pt;"><font style="font-size: 10pt;">Zhenjiang Daqo</font></td>
<td style="width: 9px;">&#160;</td>
<td style="width: 9px; text-align: left;"><font style="font-size: 10pt;">$</font></td>
<td style="width: 69px; text-align: right;"><font><font style="font-size: 10pt;">4,551,846</font></font></td>
<td style="width: 8px; text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="width: 8px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="width: 8px; text-align: left;"><font style="font-size: 10pt;">$</font></td>
<td style="width: 68px; text-align: right;"><font><font style="font-size: 10pt;">229,989</font></font></td>
<td style="width: 8px; text-align: left;">&#160;</td>
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<td style="text-align: left; text-indent: -10pt; padding-left: 10pt;"><font style="font-size: 10pt;">Daqo Group</font></td>
<td>&#160;</td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">5,110,085</font></font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left;">&#160;</td>
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<td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt;"><font style="font-size: 10pt;">Others</font></td>
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font><font style="font-size: 10pt;">325,037</font></font></td>
<td style="text-align: left; padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font><font style="font-size: 10pt;">54,644</font></font></td>
<td style="text-align: left; padding-bottom: 1pt;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: -10pt; padding-left: 10pt;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt;"><font style="font-size: 10pt;">Total</font></td>
<td style="padding-bottom: 2.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font><font style="font-size: 10pt;">9,986,968</font></font></td>
<td style="text-align: left; padding-bottom: 2.5pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-bottom: 2.5pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font><font style="font-size: 10pt;">284,633</font></font></td>
<td style="text-align: left; padding-bottom: 2.5pt;">&#160;</td>
</tr>

</table>
</div>
</div>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.5in;"><br/></p>
</div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="font-size: 10pt;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Interest free loans due to related parties received primarily for working capital purposes from Daqo Solar,&#160;Xinjiang Daqo Investment and Daqo&#160;New Material, wholly-owned subsidiaries of Daqo Group. The balances are payable on demand and are as follows:</font><br/></font></p>
</div>
</div>
<div>
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="font-size: 10pt;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p>
<div style="font-size: 10pt;" class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 93%; margin-left: 0.1px; margin-right: 0.1px;">

<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
<td colspan="6" align="left" valign="top" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">December 31,</strong></font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
<td colspan="3" align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></strong></font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><br/></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></strong></font>&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; display: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 60%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Amounts due to related parties</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Solar</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">54,275,617</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">37,390,575</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Xinjiang Daqo investment</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">23,104,709</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,146,054</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo New Material</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>4,950,746</font></font><br/><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,563,165</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Chongqing Daqo Tailai</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>1,755,326</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>144,102</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Nanjing Daqo&#160;Transformer</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,595,659</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Group</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,339,128</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33,758</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Jiangsu Daqo</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,200,018</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"><font><font style="font-size: 13.3333330154419px;">Nanjing Daqo Electric</font></font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>742,747</font></font><br/></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>-</font></font><br/></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Others*</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">734,201</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">118,873</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: top; text-align: left; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Total</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">89,698,151</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">46,396,527</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; /* text-indent: 0.5in; */vertical-align: top;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">&#160;*</font></p>
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<td style="width: 98%;">
<div>
<div style="margin: 0px; text-indent: 0px;"><font style="font-size: 10pt;">The remaining balance of amounts due to related parties of $118,873 as of December 31, 2015 was comprised of Zhenjiang Moeller&#160;and Daqo Sailfar in the amount of $<font>107,771</font> and $<font>11,102</font>, respectively.</font></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"></font><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px;">&#160;</font></p>
<font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font> <font style="font-size: 10pt; font-family: 'times new roman', times;">The transactions with Daqo Group and its subsidiaries were as follows:</font>
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<div style="font-family: 'times new roman', times; font-size: 10pt;">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;&#160;</font></p>
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<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Transaction</strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="10" align="left" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Year Ended December 31,</strong></font></td>
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<td nowrap="nowrap" align="left" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Name of Related parties</strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Nature</strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2013</font></strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></strong></font></td>
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<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 25%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Group</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; width: 36%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">486,948</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
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<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">813,105</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,821,462</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15,043,550</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;">Repayment of interest free loans</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">813,105</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,115,813</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,217,257</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Zhenjiang Daqo</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,471,866</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,554,320</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,111,239</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Solar</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,595,680</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">783,705</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">76,881,392</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">157,241,390</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">127,060,826</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">28,379,678</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">166,231,092</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">151,990,672</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Nanjing Daqo</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">112</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>&#151;</font></font><br/><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>973,898</font></font><br/><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>13,456,861</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>&#151;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; font-family: 'times new roman', times; font-size: 10pt; display: inline !important;"><font>2,921,693</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>13,456,861</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">Xinjiang&#160;Daqo&#160;Investment</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">58,389,643</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">98,367,234</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">72,946,700</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">40,193,785</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">93,219,846</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">73,252,506</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo New Material</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>7,729,501</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,082,241</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>4,600,117</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,285,114</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><br/></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Rental expense</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>1,071,287</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,050,661</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;Chongqing<font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: -webkit-left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">&#160;</font>Daqo<font style="color: #000000; font-family: 'Times New Roman'; font-size: 10.6667px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: -webkit-left; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">&#160;</font>Tailai</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>2,724,790</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>375,528</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Raw material</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>9,938</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-family: 'Times New Roman';">Income from disposal of fixed assets</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>6,458</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>6,367,640</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>6,367,640</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Others subsidiaries under Daqo Group</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">636</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,296</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset*</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,989,686</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,488,330</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Raw material</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,817</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Total</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,471,866</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">19,150,112</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,894,944</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Income from disposal of fixed assets</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,458</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">157,742</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,201,424</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,863,858</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Raw material</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">32,755</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Rental expense</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,071,287</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,050,661</font></font></td>
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<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">136,084,140</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">275,134,122</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">245,957,818</font></font></td>
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<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">69,386,568</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">275,088,560</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">276,575,346</font></font></td>
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<div style="font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The purchase of fixed assets of $<font>3,488,330</font> was comprised of Nanjing&#160;Daqo&#160;Electric, Nanjing&#160;Daqo&#160;Transformer, Zhenjiang&#160;Moeller, Jiangsu&#160;Daqo, Jiangsu&#160;Daqo&#160;High Voltage Switchgear, Intelligent Apparatus in the amount of $<font>93,795</font>, $<font>448,184</font>, $<font>2,005,617</font>, $<font>11,423</font>, $<font>483,764</font>, $<font>445,547</font>&#160;respectively.</font></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817255440">
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<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>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>17. EARNINGS PER SHARE</strong></p>
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<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>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2015</strong></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Numerator used in basic and diluted earnings per share:</strong></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 61%;">Net (loss) income attributable to Daqo New Energy Corp. ordinary shareholders&#151;basic and diluted</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;">&#160;</td>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
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<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>16,649,176</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>12,956,889</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Denominator used in basic and diluted earnings per share:</strong></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">Weighted average number of ordinary shares outstanding used in computing earnings per share&#151;basic</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>173,068,420</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>206,349,976</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font>258,015,851</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Plus: share options</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>&#151;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>5,003,667</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>3,396,082</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Weighted average number of ordinary shares outstanding used in computing earnings per share&#151;diluted</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>173,068,420</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>211,353,643</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>261,411,933</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&#151;Basic</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>(0.41</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">)&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>0.08</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>0.05</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&#151;Diluted</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;">$</td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>(0.41</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;">)</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><br/></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>0.08</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><br/></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font>0.05</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"></td>
</tr>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Outstanding employee options totaling of <font>6,371,250</font>, <font>6,154,166</font>&#160;and <font>12,563,541</font>&#160;were excluded from the computation of diluted earnings per share as their effects would have been anti-dilutive for the year ended December 31, 2013, 2014 and 2015, respectively.</p>

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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810883888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</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_CommitmentsDisclosureTextBlock', window );">COMMITMENTS AND CONTINGENCIES</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>18. COMMITMENTS AND CONTINGENCIES</strong></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>Capital commitments</em></strong></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">As of December 31, 2015, commitments outstanding for the purchases of property, plant and equipment approximated $<font>15.5</font>&#160;million, which will be due subsequent to receipt of the purchases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>Lease commitments</em></strong></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">operating lease commitments as of December 31, 2015 were principally <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6667px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">for the housing rental from Daqo New Material. The lease expense was&#160;</font></font>$<font>164,811</font>, $<font>1,071,287</font>&#160;and $<font>1,050,661</font>&#160;for the year ended December 31, 2013, 2014 and 2015, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Future minimum lease payments are as follows:</p> <div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" align="center" style="font-style: normal;font-variant: normal;font-weight: normal;font-stretch: normal;font-size: 10pt;line-height: normal;font-family: 'times new roman', times, serif;border-collapse: collapse;width: 80%;">  <tr style="vertical-align: bottom; background-color: #cceeff;"> <td nowrap="nowrap" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Year ending December 31</td> <td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><br/></td> <td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 80%;">2016 (Note 19)</td> <td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%;">&#160;</td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;">$</td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 17%;"><font>1,050,661</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 10pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Total</td> <td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,050,661</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td> </tr>  </table> </div> </div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt; text-indent: 0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt"><b><i>Contingencies</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The Group was the defendant in arbitration involving a supplier claiming approximately $<font>0.8</font> million from alleged breach of an equipment supply contract. The Group determined that the likelihood of loss is probable and the best estimate of loss was $<font>0.4</font> million. Accordingly, the contingent liability of $<font>0.4</font> million was accrued in "Accrued Expenses And Other Current Liabilities" as of December 31, 2014. This claim issue was closed in 2015, and there was <font>no</font> litigation as of December 31, 2015.</p> </div><span></span>
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<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></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817297376">
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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>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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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_VariableInterestEntityDisclosureTextBlock', window );">VARIABLE INTEREST ENTITY</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong><font>19</font>. VARIABLE INTEREST ENTITY</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt">The lease agreement with the VIE was structured
such that Chongqing Daqo protect Daqo Group from potential losses from Daqo New Material. As a result of this agreement, Chongqing
Daqo was the primary beneficiary of Daqo New Material. Lease income and expenses and associated receivables and payables were eliminated
upon consolidation as intercompany transactions. Net income of the VIE was reflected as an adjustment to noncontrolling interest.
The Group relied 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 Group cannot find an immediately available alternative source for leasing similar property,
plant and equipment, then the Group's ability to carry on the operations will be impaired. If Daqo New Material fails to
perform its obligations, the Group 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;">&#160;&#160;<br/></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 $<font>1</font> million.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><br/></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's operations before December 31, 2013. The revenues, operating costs and expenses and net income of the VIE are as follows:</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div class="CursorPointer">
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<td style="font-family: 'Times New Roman'; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="10" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>Year ended December 31,</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
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<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2013</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2014</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2015</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
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<td width="100%" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font>*</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; background-color: #cceeff;">&#160;</td>
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<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Operating costs and expenses</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"><font>150,147,024</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right;">&#160;</td>
<td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"><font>*</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"><font><font>*</font></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Net income (loss)</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"><font>(150,147,024</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;">)&#160;</td>
<td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"><font>*</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">&#160;</td>
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<div><font style="font-size: 10pt;">The lease term was amended at the beginning of </font><font style="font-size: 10pt;">2013</font><font style="font-size: 10pt;"> and reduced the rent to $</font><font style="font-size: 10pt;">0</font><font style="font-size: 10pt;"> per month and was later terminated on December 30, 2013.</font></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817325360">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SEGMENT INFORMATION<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>20. SEGMENT INFORMATION</strong></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Group'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</font>, <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
Group operated and viewed its performance in three segments. However, on September 28, 2012, the module business was disposed.
Therefore, only two segments remained in 2013, 2014 and 2015. Furthermore, the Group's chief operating decision maker is not provided
with asset information by segment. As such, no asset information by segment is presented. The following tables summarized the
Group's revenue and cost generated from different revenue streams. Substantially all of its revenues are derived in the
PRC. The Group's long lived assets and operations are substantially all located in the PRC. </font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The following table summarizes the Group's revenue by segment:</p>
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<td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31, 2013</strong></font></td>
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<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Polysilicon</strong></font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Wafer</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"><font style="font-size: 10pt;">Revenue - External</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font style="font-size: 10pt;">-&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">108,999,805</font></font></td>
<td style="text-align: left; padding: 0px 5px; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Revenue - Intersegment</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">13,195,838</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font><font style="font-size: 10pt;">(13,195,838</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;">-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total revenue</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">89,916,943</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">32,278,700</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(13,195,838</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">108,999,805</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total Cost of revenue</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">98,684,325</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">49,614,921</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(13,195,838</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">135,103,408</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Gross loss</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(8,767,382</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px 0px 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(17,336,221</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(26,103,603</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)</strong></font></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31, 2014</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Polysilicon</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Wafer</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Elimination</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"><font style="font-size: 10pt;">Revenue - External</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">127,692,325</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">54,879,527</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td><font style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 10%; background-color: #cceeff;">-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">182,571,852</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Revenue - Intersegment</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">29,424,883</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font><font style="font-size: 10pt;">(29,424,883</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"><font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;">-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total revenue</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">157,117,208</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">54,879,527</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(29,424,883</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">182,571,852</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total Cost of revenue</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">119,703,550</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">47,861,811</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(28,256,850</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">139,308,511</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Gross Profit</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>37,413,658</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>7,017,716</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(1,168,033</font></strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)&#160;</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>43,263,341</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31, 2015</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Polysilicon</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Wafer</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Elimination</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"><font style="font-size: 10pt;">Revenue &#150; External</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">125,916,457</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">56,124,511</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><br/></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><br/></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">182,040,968</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Revenue - Intersegment</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">23,485,364</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font><font style="font-size: 10pt;">(23,485,364</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total Revenue</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">149,401,821</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">56,124,511</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(23,485,364</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">182,040,968</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total Cost of revenue</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">121,193,840</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">46,763,308</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(23,466,065</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">144,491,083</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Gross Profit</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>28,207,981</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>9,361,203</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(19,299</font></strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)&#160;</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>37,549,885</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>

</table>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</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>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 80%; margin-left: 1in;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="font-family: 'Times New Roman';">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>Year ended December 31,</strong></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2013</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2014</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2015</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;">Customer B</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"><font><font>19,644,488</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">$</font>&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font><font>23,882,302</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">$</font>&#160;</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font><font>18,125,773</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Customer C</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>*</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"><font>18,210,196</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"><font>19,595,911</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;">Customer D</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"><font>13,471,873</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font>*</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Customer J</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"><font>35,094,472</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Customer K</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"><font>*</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"><font>20,465,558</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div align="left">
<div style="font-size: 1pt; border-top: Black 1pt solid; width: 20%;">&#160;</div>
</div>
<div class="CursorPointer">
<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;">

<tr style="vertical-align: top;">
<td style="width: 2%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">*</font></td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>DAQO NEW ENERGY CORP.</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
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<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; text-align: center;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; text-align: center;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">CURRENT ASSETS</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Prepaid expenses and other current assets</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">204,682</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">193,583</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">5,110,085</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total current assets</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">9,807,917</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">2,756,666</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Investments in subsidiaries</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">197,571,399</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">238,112,877</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>TOTAL ASSETS</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">207,379,316</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">240,869,543</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 2pt; text-align: left; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 2pt; text-align: left; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 2pt; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 2pt; text-align: left; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 2pt; text-align: left; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 2pt; text-align: left; padding: 0px 5px; vertical-align: top; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>LIABILITIES AND SHAREHOLDERS' EQUITY</strong></font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">CURRENT LIABILITIES</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Accrued expenses and other current liabilities</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">324,720</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">406,088</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160; &#160; &#160;Amount due to a related party</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"><font><font style="font-size: 10pt;">286,526</font></font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>-</font></font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;">&#160; &#160; &#160;Income tax payable</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-top-style: none; border-right-style: none; border-left-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>-</font></font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>108,992</font></font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Total current liabilities</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">611,246</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">515,080</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">EQUITY</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Ordinary shares ($<font>0.0001</font> per value <font>500,000,000</font> shares authorized as of December 31, 2014 and 2015; <font>240,714,103</font>&#160;and <font>279,214,103</font>&#160;shares issued as of December 31, 2014 and 2015, respectively and <font>223,577,853</font>&#160;and <font>260,836,578</font>&#160;shares outstanding as of December 31, 2014 and 2015, respectively)</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">22,358</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">26,320</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Additional paid in capital</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">203,125,494</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">236,358,070</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Retained accumulated losses</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(16,018,293</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(3,061,404</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Accumulated other comprehensive income</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">20,037,183</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">8,780,313</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Treasury stock</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(398,672</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(1,748,836</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total shareholders' equity</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">206,768,070</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">240,354,463</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>TOTAL LIABILITIES AND EQUITY</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">207,379,316</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">240,869,543</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt;">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FINANCIAL STATEMENT SCHEDULE I</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>DAQO NEW ENERGY CORP.</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FINANCIAL INFORMATION OF PARENT COMPANY</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FOR THE YEARS ENDED DECEMBER 31, 2012, 2013 AND 2014</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>(In U.S. dollars)</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
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<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31,</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">OPERATING EXPENSES</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; width: 61%; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">General and administrative</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt;">(2,979,454</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt;">(2,738,085</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt;">(4,142,634</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Research and development</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(76,646</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(12,310</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; vertical-align: top; text-align: left; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Total operating expenses</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(3,056,100</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(2,750,395</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(4,142,634</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">LOSS FROM OPERATION</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(3,056,100</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(2,750,395</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(4,142,634</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Interest income</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">3,130</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">8,144</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,641</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">&#160;Exchange gain</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"><font>-</font>&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"><font>-&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"><font>118,679&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">&#160;Income tax expense</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;"><font>-&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;"><font>-&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;"><font>(108,992</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">NET LOSS BEFORE SHARE OF RESULTS OF SUBSIDIARIES</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(3,052,970</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(2,742,251</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(4,131,306</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;">
<p style="font-family: 'times new roman'; margin-right: 0; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10pt;">Equity in (losses) earnings of subsidiaries</font></p>
</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(67,890,514</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">19,391,427</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">17,088,195</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Net (loss) income attributable to Daqo New Energy Corporation ordinary shareholders</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(70,943,484</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">16,649,176</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">12,956,889</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Other comprehensive (loss) income:</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Foreign currency translation adjustments</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">4,148,190</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(3,662,013</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(11,256,870</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total other comprehensive income (loss)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">4,148,190</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(3,662,013</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">)&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(11,256,870</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Comprehensive (loss) income</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(66,795,294</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">12,987,163</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,700,019</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt;">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FINANCIAL STATEMENT SCHEDULE I</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>DAQO NEW ENERGY CORP.</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FINANCIAL INFORMATION OF PARENT COMPANY</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>STATEMENT OF CHANGES IN EQUITY</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FOR YEARS ENDED DECEMBER 31, 2013, 2014 AND 2015</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>(In U.S. dollars, except share data)</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="6" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Ordinary shares</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Treasury Stock</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Additional<br/> paid in capital</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Retained<br/> earnings (accumulated<br/> losses)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Accumulated<br/> other<br/> comprehensive<br/> income</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Number</strong></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: center; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">Balance at January 1, 2013</font></td>
<td style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">172,877,433</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">17,288</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(494,928</font></font></td>
<td style="text-align: left; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">144,755,902</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">38,276,015</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">19,551,006</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">202,105,283</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; vertical-align: top; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; vertical-align: top; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Net loss</font></td>
<td style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(70,943,484</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(70,943,484</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Other comprehensive income</font></td>
<td style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">4,148,190</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">4,148,190</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">Share-based compensation</font></td>
<td style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">1,881,401</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">1,881,401</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Option Exercised</font></td>
<td style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">550,420</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">55</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">96,256</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">38,860</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">135,171</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Deconsolidation of VIE</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; font-size: 8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Balance at December&#160;31, 2013</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">173,427,853</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">17,343</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(398,672</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">146,676,163</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(32,667,469</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">23,699,196</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">137,326,561</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"></font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Net income</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">16,649,176</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">16,649,176</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">Other comprehensive income</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">(3,662,013</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">)&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">(3,662,013</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Share-based compensation</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">1,792,819</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">1,792,819</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">Option Exercised</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">150,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">15</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">37,065</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">37,080</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Follow-on equity offering, net of issuance cost of $<font>3,375,553</font></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;"><font>50,000,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;"><font>5,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;"><font>54,619,447</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;"><font>54,624,447</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-top-color: #000000; border-top-width: 1pt; border-top-style: solid; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Balance at December&#160;31, 2014</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">223,577,853</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">22,358</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">(398,672</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">203,125,494</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">(16,018,293</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">20,037,183</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font><font style="font-size: 10pt;">206,768,070</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Net income</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>12,956,889</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>12,956,889</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">Other comprehensive income</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>(11,256,870</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>(11,256,870</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Share-based compensation&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>3,687,951</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>3,687,951</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">Option Exercised&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>1,115,625</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>112</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>275,671</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>275,783</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Follow-on equity offering, net of issuance costs of $<font>2,033,041</font></font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>38,500,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>3,850</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>27,993,109</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;"><font>27,996,959</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">Repurchase of Stock</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>(2,356,900</font>)&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>(1,350,164</font> )</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>(1,350,164</font> )</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Capital injection from noncontrolling&#160;shareholders</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>1,275,845</font>&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><font>1,275,845</font>&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">Balance at December 31, 2015&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;"><font>260,836,578</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;"><font>26,320</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;"><font>(1,748,836</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">)&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;"><font>236,358,070</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;"><font>3,061,404</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;"><font>8,780,313</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font-size: 8pt; vertical-align: bottom; white-space: nowrap; font-weight: normal; font-style: normal; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><font style="font-size: 10pt;"><font>240,354,463</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; font-weight: normal; font-style: normal;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt;">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FINANCIAL STATEMENT SCHEDULE I</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>DAQO NEW ENERGY CORP.</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FINANCIAL INFORMATION OF PARENT COMPANY</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>STATEMENT OF CASH FLOWS</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FOR THE YEARS ENDED DECEMBER 31, 2013, 2014 AND 2015</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>(In U.S. dollars)</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt;">&#160;</font></p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31,</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2013</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">OPERATING ACTIVITIES</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; width: 61%; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Net (loss) income</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt;">(70,943,484</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt;">16,649,176</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt;">12,956,888</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Share of results of subsidiaries</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">67,890,514</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(19,391,427</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(17,088,194</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Share-based compensation</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,881,401</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,792,819</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">3,687,951</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Adjustments to reconcile net income to net cash used in operating activities:</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 40px;"><font style="font-size: 10pt;">Prepaid expenses and other current assets</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">344,717</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(27,195</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">11,099</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 40px; background-color: #cceeff;"><font style="font-size: 10pt;">Changes in other current liabilities</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">137,390</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(26,901</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(96,166</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-top: 0px; padding-left: 40px;"><font style="font-size: 10pt;">Amount due to a related party</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">286,526</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(286,526</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 40px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;Income tax payable</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><font>-</font>&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><font>-</font>&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><font>108,992</font>&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Net cash used in operating activities</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(689,462</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(717,002</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(705,956</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">INVESTING ACTIVITIES</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Capital contributed to subsidiaries</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(54,638,421</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(33,256,774</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Cash collected from subsidiaries when liquidation</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">71,503</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px;"><font style="font-size: 10pt;">Disposition of&#160;minority interest in subsidiary</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">5,110,085</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Net cash used in investing activities</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">71,503</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(54,638,421</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(28,146,689</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">FINANCING ACTIVITIES</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Repurchase of ordinary shares</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(1,350,164</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; width: 20px;"><font style="font-size: 10pt;">Proceeds from follow-on equity offering</font></td>
<td style="font-family: 'Times New Roman'; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;">58,000,000</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;">30,030,000</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; background-color: #cceeff;"><font style="font-size: 10pt;">Insurance cost for follow-on equity&#160;offering</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(3,375,553</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(2,033,041</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding-top: 0px; padding-left: 20px; width: 20px;"><font style="font-size: 10pt;">Proceeds from options exercised</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;">135,171</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;">37,080</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;">275,783</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Net cash provided by financing activities</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">135,171</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">54,661,527</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">26,922,578</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(693,896</font></font></td>
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<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">5,669,834</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">5,187,046</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">4,493,150</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">5,187,046</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">2,563,083</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>FINANCIAL STATEMENT SCHEDULE I</strong></font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><font style="font-size: 10pt;"><strong>Notes to Schedule I</strong></font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2px; text-align: justify; text-indent: -0.4in;"><font style="font-size: 10pt;">&#160;</font></p>
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<td style="text-align: justify; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif">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 Group. No dividend was paid by the Company's subsidiaries to their parent company in 2015.</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2px; text-align: justify; text-indent: -0.4in;"><font style="font-size: 10pt;">&#160;</font></p>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812546400">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<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 ("U.S. GAAP").</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">As of December 31, 2015, the Company's current liabilities exceed its current assets by $<font>186.6</font>&#160;million. While the Company had cash and cash equivalents of $ <font>14.5</font>&#160;million, short-term borrowings, including current portion of long-term bank borrowings of &#160;$<font>123.9</font> million will be due within one year. Additionally, the Company has capital commitments of $<font>15.5</font>&#160;million relating to the purchases of property, plant and equipment to be fulfilled in the next twelve months.&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">However, the Group&#160;regards the going concern assumption as appropriate considering the following plans and actions:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><br/></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: 0.25in;"></td>
<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">1.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Group generated net income and positive cash flow from operations for <font>two</font> consecutive years.</font></td>
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<tr style="vertical-align: top;">
<td style="width: 0.25in;">&#160;</td>
<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</td>
</tr>

</table>
<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt;">

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<td style="width: 0.25in;"></td>
<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Group has performed a review of its cash flow forecasts for the twelve month period ending December 31, 2016, and believes that its operating cash flow will be positive during the twelve month period ending December 31, 2016.</font></td>
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<tr style="vertical-align: top;">
<td style="width: 0.25in;">&#160;</td>
<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</td>
</tr>

</table>
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<tr style="vertical-align: top;">
<td style="width: 0.25in;"></td>
<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">3.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">The Group has or is in the process of taking a number of cost reduction initiatives, including the new hydrochlorination system, technology improvement and polysilicon capacity expansion in Xinjiang.</font></td>
</tr>
<tr style="vertical-align: top;">
<td style="width: 0.25in;">&#160;</td>
<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</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: 0.25in;"></td>
<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">4.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">On February 22, 2016, the Group obtained a letter of financial support from Daqo Group which has committed to provide sufficient financial support to the Group to ensure the Group has the funds required to satisfy its obligations as they come due in the normal course during the twelve months ending December 31, 2016. Further, the support letter provides that Daqo Group will not require the Group to pay the amount owed to the Daqo Group and subsidiaries of Daqo Group before January 1, 2017, which at December 31, 2015 totaled $<font>46.4</font> million.</font></td>
</tr>
<tr style="vertical-align: top;">
<td style="width: 0.25in;">&#160;</td>
<td style="width: 0.25in;">&#160;</td>
<td style="text-align: justify;">&#160;</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: 0.25in;"></td>
<td style="width: 0.25in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">5.</font></td>
<td style="text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">As of December 31, 2015, the Group has available bank accepted note facilities of $<font>22.6</font> million. 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 of the loans and believes the Company will continue to be able to do so.</font></td>
</tr>

</table>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.3in;">Based on the above factors, management believes that adequate sources of liquidity will exist to fund the Group's working capital and capital expenditures requirements, and to meet its short term debt obligations, other liabilities and commitments as they become due.</p>
</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_ConsolidationPolicyTextBlock', window );">Basis of consolidations</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(b) Basis of consolidations</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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>
</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_UseOfEstimates', window );">Use of estimates</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(c) Use of estimates</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">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 Group 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, useful lives and residual values of long-lived assets, impairment for long lived assets, valuation allowances for deferred tax assets, interest capitalization and certain assumptions used in the computation of share-based compensation and related forfeiture rates.</font> <font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">The Group revised the estimates of expected useful lives of property, plant and equipment on January 1, 2014, please refers to Note 2 (i) for details.</font></p>
</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_ConcentrationRiskCreditRisk', window );">Concentration of credit risk</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(d) Concentration of credit risk</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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, restricted cash, accounts receivable and notes receivable.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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;">&#160;</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. Allowance for doubtful accounts is $<font>3,189,110</font>&#160;and $<font>1,087,465</font> as of December 31, 2014 and 2015, respectively, based on the aging of the receivables and the Group's assessment of the customers' credit risk.</p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div>
<div class="CursorPointer" align="center">
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">Accounts</font></strong></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="6" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>December 31,</strong></font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr>
<td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>receivable</strong></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><br/></td>
<td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td colspan="2" style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; padding-right: 10px; white-space: nowrap; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 68%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer C</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,213,393</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer J</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>1,578,947</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,996,042</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer M</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,330,145</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer H</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,071,415</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">6,354,510</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer N</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,315,035</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr>
<td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer B</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,299,732</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>

</table>
</div>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div align="left" style="margin-top: 0; margin-bottom: 0;">
<div style="font-size: 1pt; border-top: Black 1pt solid; width: 15%;">&#160;</div>
</div>
<table width="100%" cellpadding="0" border="0" cellspacing="0" style="width: 100%;">

<tr>
<td style="width: 0.25in; padding-right: 0.8pt;">
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></p>
</td>
<td style="padding-right: 0.8pt;">
<div><font style="font-size: 10pt; font-family: 'times new roman', times;">Represents less than 10%</font></div>
</td>
</tr>

</table>
</div>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;">From time to time, certain accounts receivable balances are settled in the form of notes receivable. As of December 31, 2014 and 2015, notes receivable represents bank acceptance drafts that are non-interest bearing and due within 6 months.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 23pt;">&#160;&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Total sales to the Group's largest customers whose sales constitute over 10% of revenue accounted for approximately <font>30</font>%, <font>23</font>% and <font>51</font>% of revenues for the years ended December 31, 2013, 2014 and 2015, respectively. The Group is substantially dependent upon the continued participation of these customers in order to maintain its total revenues. Significantly reduction in the Group's dependence on these customers is likely to take time and there can be no assurance&#160;that the Group will succeed in reducing such dependence.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Furthermore, <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">all of the Group's long-term bank borrowings are guaranteed by Daqo Group, our related party, who has also committed to provide financial support to meet the Group's short term bank borrowings obligations, other liabilities and commitments as they become due (see Note 2(a)). The Group's access to credit is significantly reliant on Daqo Group's ability and willingness to continue to provide sufficient financial support</font>.</p>
</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_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and cash equivalents</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(e) Cash and cash equivalents</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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>
</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_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Restricted cash</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(f) Restricted cash</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Restricted cash of&#160;$<font>22,169,236</font>&#160;and $<font>19,062,714</font>&#160;as of December 31, 2014 and 2015, respectively, are restricted bank 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>
</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_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy', window );">Allowance for Doubtful Accounts</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(g) Allowance for Doubtful Accounts</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;">&#160;</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.&#160;Provisions for allowance for doubtful accounts are recorded as general and administrate expense in the consolidated statements of operations.</p>
</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_InventoryPolicyTextBlock', window );">Inventories</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(h) Inventories</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 31, 2013, 2014 and 2015 were $<font>29,905,734</font>, $ <font>175,568</font>&#160;and $<font>62,422</font>&#160;respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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;">&#160;</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;">&#160;</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>
</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_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, plant and equipment</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(i) Property, plant and equipment</em></strong></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div>
<div class="CursorPointer" align="center">
<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; margin-left: 0.1px; margin-right: 0.1px;" width="85%">

<tr>
<td style="vertical-align: top; width: 82%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><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-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>30</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Machinery and equipment</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>15</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Furniture, fixtures and equipment</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>3</font>-<font>5</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Motor vehicles</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>6</font> years</font></td>
</tr>

</table>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group&#160;reassesses the reasonableness of the estimates of useful lives and residual values of long-lived assets when events or changes in circumstances indicate that the useful lives and residual values of a major asset or a major category of assets may not be reasonable. Factors that the Group&#160;considers in deciding when to perform an analysis of useful lives and residual values of long-lived assets include, but are not limited to, significant variance of a business or product line in relation to expectations, significant deviation from industry or economic trends, and significant changes or planned changes in the use of the assets. The analysis will be performed at the asset or asset category with the reference to the assets' conditions, current technologies, market, and future plan of usage and the useful lives of major competitors.</p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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: 23pt;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">In <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 33.7333335876465px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">2013, the Company decided to relocate a majority of Chongqing's polysilicon assets to Xinjiang. As part of the decision to make significant investment to relocate the assets, the Company&#160;revisited the expectation as to the useful lives of these assets. Based on this review, the Company determined that the condition of its major assets, having now been in operations for a meaningful percentage of the original estimated lives, were in better condition, than the original useful life expectation had predicted, accordingly, the Company with the assistant of an independent valuation firm reassessed the remaining economic useful life of the polysilicon assets in both Chongqing and Xinjiang. The analysis was completed in the first quarter of 2014</font>. Therefore, the Company revised the estimates of expected useful lives of long-lived assets from January 1, 2014. The useful lives of machinery and equipment were expended from <font>10</font> years to <font>15</font> years, while buildings and structures were expended from <font>20</font> years to <font>30</font> years. No changes were made to furniture, fixtures and equipment, or motor vehicles. During the years ended December 31, 2014 and 2015, the change in useful lives reduced depreciation expense of approximately $<font>18.7</font>&#160;million and $<font>18.7</font> million, a majority of which was recorded in "Total cost of revenues", accordingly the impact on net income and basic net income per share are $<font>18.7</font>&#160;million and $<font>0.09</font>&#160;per ordinary share, and $<font>18.7</font> million and $<font>0.07</font> per ordinary share, respectively.</p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></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 Group&#160;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 31, 2013, 2014 and 2015 was $<font>nil</font>, $<font>1,960,259</font>&#160;and $<font>2,825,879</font>&#160;respectively.</p>
</div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(j) Prepaid land use rights</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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'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 $<font>781,706</font>, $<font>628,052</font>&#160;and $<font>595,716</font>, for the years ended December 31, 2013, 2014 and 2015, respectively.</p>
</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_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Impairment of long-lived assets</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(k) Impairment of long-lived assets</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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'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'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.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">During each of the three year ended December 31, 2013, 2014 and 2015, the impairment changes were $<font>158,424,827</font>, $<font>nil</font>&#160; and $<font>1,622,588</font>, respectively. The impairment loss incurred during the year ended December 31, 2013 was related to the buildings and plant of polysilicon asset group 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.&#160;The impairment loss of $1.6 million incurred during the year ended December 31, 2015 was related to the identified relocation assets in Chongqing that were not transferrable and could not be reutilized by its Xinjiang expansion project. Please refer to Note 3 for further information.</p>
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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_RevenueRecognitionPolicyTextBlock', window );">Revenue recognition</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(l) Revenue recognition</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="text-decoration: underline;">Product sales</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="text-decoration: underline;">Service revenue</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 30.6666660308838px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Group also provides OEM services to customers, such as the provision of service to process polysilicon into ingots and wafers. The Group 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</font>.</p>
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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_CostOfSalesPolicyTextBlock', window );">Cost of revenues</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(m) Cost of revenues</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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. Cost of revenues does not include shipping and handling expenses, therefore the Group's cost of revenues may not be comparable to other companies which include such expense in their costs of revenues.</p>
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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_ShippingAndHandlingCostPolicyTextBlock', window );">Shipping and handling</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(n) Shipping and handling</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 $<font>1,901,384</font>, $<font>2,054,786</font>&#160;and $<font>2,708,962</font>, respectively for the years ended December 31, 2013, 2014 and 2015.</p>
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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_ResearchAndDevelopmentExpensePolicy', window );">Research and development expenses</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(o) Research and development expenses</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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, 2014 and 2015, the Group 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>
</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_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock', window );">Government subsidies</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(p) Government subsidies</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 31, 2013, 2014 and 2015 were $<font>5,249,788</font>, $<font>926,173</font>&#160;and $<font>3,578,865</font>, respectively.&#160;For government grants related to assets are recorded as long term liabilities and amortized on a straight-line basis over the useful life of the associated asset as an offset to depreciation expense. The Group&#160;received government grants related to assets of $<font>1,172,160</font>, $<font>113,735</font>&#160;and $<font>690,889</font>&#160;during the years ended December 31, 2013, 2014 and 2015, respectively.</p>
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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_IncomeTaxPolicyTextBlock', window );">Income taxes</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(q) Income taxes</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</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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<tr class="re">
<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"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(r) Share-based compensation</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group recognizes share-based compensation in the consolidated 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 or&#160;cost of sales, depending on the job functions of the grantees. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the years ended December 31, 2013, 2014 and 2015, the Group recognized share-based compensation expense of $1,881,401, &#160;$1,792,819 and $3,687,951, respectively, which was classified as follows:</font></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Selling, general and administrative expenses</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,743,768</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,544,078</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">3,323,948</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Research and development expenses</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">60,987</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">12,310</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Cost of sales</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">76,646</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">236,431</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">364,003</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2.80pt double;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>1,881,401</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>1,792,819</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>3,687,951</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>

</table>
</div>
</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_EarningsPerSharePolicyTextBlock', window );">Earnings (loss) per share</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(s) (Loss) earnings per share</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Basic (loss) earnings per ordinary share are computed by dividing the net (loss) net income 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: 0.5in;">&#160;</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.</p>
</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_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign currency translation</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(t) Foreign currency translation</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The reporting currency of the Company&#160;is the United States dollar (&#147;U.S. dollar&#148;). 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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The financial records of the Company's PRC subsidiaries and VIE are maintained in Chinese Renminbi (&#147;RMB&#148;), 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;">&#160;</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's Republic of China, under the authority of the People'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's aggregate amount of cash and cash equivalents and restricted cash denominated in RMB amounted to $<font>24,356,970</font>&#160;and $<font>30,891,550</font> as of December 31, 2014 and 2015, respectively.</p>
</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_ComprehensiveIncomePolicyPolicyTextBlock', window );">Comprehensive income</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(u) Comprehensive income</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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 (Loss) Income as required by new accounting guidance, which we retrospectively adopted during 2012. As of December 31 2014 and 2015, Accumulated Other Comprehensive Income was comprised entirely of foreign currency translation adjustments.</p>
</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_FairValueOfFinancialInstrumentsPolicy', window );">Fair value of financial instruments</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(v) Fair value of financial instruments</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group&#160;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;">&#160;</p>
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<tr>
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<td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">&#149;</font></td>
<td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td>
<td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Level 1&#151;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>
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</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
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<tr>
<td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td>
<td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">&#149;</font></td>
<td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td>
<td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Level 2&#151;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>
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</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
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<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;">

<tr>
<td style="width: 4%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td>
<td style="vertical-align: top; width: 3%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">&#149;</font></td>
<td style="vertical-align: top; width: 1%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td>
<td style="vertical-align: top; width: 92%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Level 3&#151;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's own assumptions about the assumptions that market participants would use to price an asset or liability.</font></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</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'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's consolidated assets, liabilities, shareholders' equity and net income or loss.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group'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 bank 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;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The fair values of the Group's plant and equipment and long-term bank borrowings as of December 31, 2014 and 2015 are estimated by discounted cash flow technique using an interest rate corresponding to debt with similar maturities and risks on the measurement date.</p>
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</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"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(w) Variable Interest Entity</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group&#160;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 Group&#160;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 Group's Consolidated Financial Statements.</p>
</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"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(x) Noncontrolling interest</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The Group classified the ownership interest in the consolidated entity held by a party other than the Group&#160;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. Xinjiang Daqo&#160;Investment's equity interests in Xinjiang&#160;Daqo&#160;are presented as a noncontrolling interest as of December 31, 2015. The non-controlling interest was $<font>1,302,027</font> as of December 31, 2015.</p>
</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"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(y) Treasury Stock</em></strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</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 $<font>5</font> 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, 2013, 2014 and 2015, the Company repurchased <font>nil</font>, <font>nil</font> and &#160;<font>2,356,900</font>&#160;shares for a total purchase price of <font>nil</font>, <font>nil</font> and $<font>1,350,164</font>. The Company has legal title to the shares, and no other party has the voting rights associated with these shares.</p>
</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"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 23pt;"><strong><em>(z) Recent accounting pronouncements</em></strong></p>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">On August 27, 2014, the FASB issued ASU 2015-15, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements (or within one year after the date on which the financial statements are available to be issued, when applicable). Further, an entity must provide certain disclosures if there is &#147;substantial doubt about the entity's ability to continue as a going concern.&#148; The ASU is effective for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The Group&#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">In May 2014, the FASB issued a new pronouncement which affects any entity using U.S. GAAP that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition&#151;Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g. assets within the scope of Topic 360, Property, Plant, and Equipment, and intangible assets within the scope of Topic 350, Intangibles&#151;Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"></font><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 1: Identify the contract(s) with a customer.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 2: Identify the performance obligations in the contract.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">1. Retrospectively to each prior reporting period presented and the entity may elect any of the following practical expedients:</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change.</p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">In January 2015, the FASB issued a new pronouncement which eliminates from U.S. GAAP the concept of extraordinary items. This ASU required that an entity separately classify, present, and disclose extraordinary events and transactions. Presently, an event or transaction is presumed to be an ordinary and usual activity of the reporting entity unless evidence clearly supports its classification as an extraordinary item. If an event or transaction meets the criteria for extraordinary classification, an entity is required to segregate the extraordinary item from the results of ordinary operations and show the item separately in the income statement, net of tax, after income from continuing operations. The entity also is required to disclose applicable income taxes and either present or disclose earnings-per-share data applicable to the extraordinary item. This ASU will also align more closely U.S. GAAP income statement presentation guidance with IAS 1, Presentation of Financial Statements, which prohibits the presentation and disclosure of extraordinary items. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Group has already considered the impact on its consolidated financial statements as of December 31, 2015.</font></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements;</font></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 23pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10.0pt;">&#149; Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities;</font></p>
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<p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;">The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. The Group&#160;is in the process of evaluating the impact on its consolidated financial statements upon adoption.</p>
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<p style="text-indent: 23pt; margin: 0pt 0px; font: 10pt Times New Roman, Times, Serif;">On March 30, 2016, the FASB&#160;issued ASU&#160;2016-09, which simplifies several aspects&#160;of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new guidance, which is part of the Board's simplification initiative,&#160;also contains two practical expedients under which nonpublic entities can use the simplified method&#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards which nonpublic entities can use the simplified method&#160;to estimate the expected term of an award and make a one-time election to switch from fair value measurement to intrinsic value measurement for liability-classified awards.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In the period of adoption, entities are
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<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-indent: 0.25in;">For public business entities, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that apply must be adopted in the same period. In addition, if early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The Group is in the process of evaluating the impact on its consolidated financial statements upon adoption.</p>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.1(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 1<br> -Article 5<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 203<br> -Paragraph 02-03<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 style="white-space:nowrap;">us-gaap_ComprehensiveIncomePolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 55<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6875567&amp;loc=d3e14489-108613<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 825<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51676700&amp;loc=d3e61082-112788<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 825<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28088331&amp;loc=SL29635902-196195<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 825<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51676700&amp;loc=d3e61044-112788<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.3A-02)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph k<br> -Article 1<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02, 03<br> -Article 3A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConsolidationPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.3A-02)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph a<br> -Article 4<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02, 03, 04<br> -Article 3A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConsolidationSubsidiariesOrOtherInvestmentsConsolidatedEntitiesPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConsolidationVariableInterestEntityPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=SL6759159-111685<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=d3e5728-111685<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2AA<br> -Subparagraph a<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=SL6759068-111685<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2A<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=SL6225816-111685<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConsolidationVariableInterestEntityPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfSalesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 50<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51666513&amp;loc=d3e63676-111659<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfSalesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerSharePolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfFinancialInstrumentsPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13279-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 60<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfFinancialInstrumentsPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 (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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 912<br> -SubTopic 235<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51668304&amp;loc=d3e53972-109395<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GovernmentContractorsRevenueRecognitionPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 05<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51717228&amp;loc=d3e202-110218<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section CC<br> -Subsection 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32840-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6423966&amp;loc=d3e40913-109327<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32809-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32247-109318<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32280-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4492-108314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4556-108314<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Financial Reporting Release (FRR)<br> -Number 206<br> -Paragraph b<br> -Subparagraph i, ii<br> -Chapter 2<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 6<br> -Subparagraph a<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</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_NewAccountingPronouncementsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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 style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</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_PropertyPlantAndEquipmentPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5144-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpensePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Shipping Costs<br> -URI http://asc.fasb.org/extlink&amp;oid=51575562<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6408413&amp;loc=d3e221937-122793<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51671805&amp;loc=d3e60635-111653<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51667946&amp;loc=d3e61069-111654<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Handling Costs<br> -URI http://asc.fasb.org/extlink&amp;oid=51575068<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18726-107790<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for its capital stock transactions, including dividends and accumulated other comprehensive 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18726-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21459-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Tables)<br></strong></div></th>
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<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; width: 13%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer J</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>1,578,947</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,996,042</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer M</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,330,145</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer H</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,071,415</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">6,354,510</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="vertical-align: top; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer N</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; border: none #000000; padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,315,035</font></font><br/></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr>
<td style="vertical-align: top; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Customer B</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">2,299,732</font></font></td>
<td style="vertical-align: bottom; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>

</table>
</div>
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div align="left" style="margin-top: 0; margin-bottom: 0;">
<div style="font-size: 1pt; border-top: Black 1pt solid; width: 15%;">&#160;</div>
</div>
<table width="100%" cellpadding="0" border="0" cellspacing="0" style="width: 100%;">

<tr>
<td style="width: 0.25in; padding-right: 0.8pt;">
<p style="margin: 0pt; orphans: 0; widows: 0; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font></p>
</td>
<td style="padding-right: 0.8pt;">
<div><font style="font-size: 10pt; font-family: 'times new roman', times;">Represents less than 10%</font></div>
</td>
</tr>

</table>
</div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div class="CursorPointer" align="center">
<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; margin-left: 0.1px; margin-right: 0.1px;" width="85%">

<tr>
<td style="vertical-align: top; width: 82%; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><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-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>30</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Machinery and equipment</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>15</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Furniture, fixtures and equipment</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>3</font>-<font>5</font>&#160;years</font></td>
</tr>
<tr>
<td style="vertical-align: top; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">Motor vehicles</font></td>
<td style="vertical-align: bottom; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>6</font> years</font></td>
</tr>

</table>
</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_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Schedule of Share-Based Compensation Expenses</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Selling, general and administrative expenses</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,743,768</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,544,078</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">3,323,948</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Research and development expenses</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">60,987</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">12,310</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Cost of sales</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">76,646</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">236,431</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">364,003</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom: #000000 2.80pt double;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>1,881,401</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>1,792,819</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>3,687,951</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6770416224">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ALLOWANCES FOR DOUBTFUL RECEIVABLES (Tables)<br></strong></div></th>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
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<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 61%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Beginning of the year</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,592,467</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">7,160,782</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">3,189,110</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Allowances (Reversal) during the year</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">5,482,019</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(3,823,744</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(2,026,567</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Foreign exchange effect</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">86,296</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(147,928</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(75,078</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Closing balance</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></strong></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font><font style="font-size: 10pt; font-family: 'times new roman', times;">7,160,782</font></font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></strong></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font><font style="font-size: 10pt; font-family: 'times new roman', times;">3,189,110</font></font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></strong></td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font><font style="font-size: 10pt; font-family: 'times new roman', times;">1,087,465</font></font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><strong><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11B<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=SL6953423-111524<br></p></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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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>
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<th class="tl" colspan="1" rowspan="2"><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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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>December 31,</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr>
<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2015</strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Spare parts</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">6,385,388</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">6,052,315</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Prepaid Value added tax (&#147;VAT&#148;)</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">5,857,017</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">5,552,772</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Prepaid insurance fee</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">226,564</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">347,631</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Others</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">366,900</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">282,423</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>12,835,869</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font>12,235,141</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6798553968">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVENTORIES (Tables)<br></strong></div></th>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
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<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"><strong>2014</strong></td>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Raw materials</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>1,362,944</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>2,343,104</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
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<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Work-in-process</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>5,411,360</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>5,626,531</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Finished goods</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"><font>2,807,480</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: left; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;">&#160;</td>
<td style="border-top-style: none; border-right-style: none; border-left-style: none; text-align: right; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #cceeff;"><font>2,746,304</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><strong>Total</strong></td>
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<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>9,581,784</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>10,715,939</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 2<br> -Paragraph 6<br> -Subparagraph a,b,c<br> -Article 5<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817348832">
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<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>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
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<td style="text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Cost</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 70%;">Buildings and plant</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font>233,230,935</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font>313,290,516</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Machinery and equipment</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>351,409,724</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>389,373,554</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Furniture, fixtures and equipment</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>18,469,913</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>22,418,768</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Motor vehicles</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>257,408</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>293,331</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Less: Accumulated depreciation</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(169,264,463</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(188,680,279</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Property,&#160;plant&#160;and&#160;equipment,&#160;net&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>434,103,517</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>536,695,889</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Construction in process</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>124,902,602</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>7,630,236</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>559,006,119</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>544,326,125</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6646591248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BORROWINGS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</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_DebtDisclosureAbstract', window );"><strong>BORROWINGS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
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<tr>
<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Short-term bank borrowings</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>90,443,007</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>72,360,730</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Long-term bank borrowings, current portion</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font>69,360,869</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font>51,576,265</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Total borrowings, current</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>159,803,876</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>123,936,995</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Long-term bank borrowings, non-current portion</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>77,336,160</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>118,548,430</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>237,140,036</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>242,485,425</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>

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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_ScheduleOfShortTermDebtTextBlock', window );">Schedule of Short-Term Borrowings</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer" style="margin-left: 0.28in;">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%; background-color: #cceeff;">Short-term bank borrowing guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xiang Xu</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>27,389,890</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70px;">Short-term borrowing guaranteed by Daqo Group and related parties</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"><font><font>-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12px;"><font><font>72,360,730</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Short-term borrowing guaranteed by Daqo Group and&#160;a third party</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>11,278,190</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Short-term&#160;credit bank borrowings</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>51,774,927</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="background-color: #cceeff;">
<td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong>$</strong></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong><font>90,443,007</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong>$</strong></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double;"><strong><font>72,360,730</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>

</table>
</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_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Long-Term Bank Borrowings</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="margin-left: 0.28in;">
<table style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 96%; border-collapse: collapse;" cellpadding="0" cellspacing="0">

<tr style="vertical-align: bottom;">
<td>&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">December 31,</td>
<td style="padding-bottom: 1pt; font-weight: bold;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td>&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">2014</td>
<td style="padding-bottom: 1pt; font-weight: bold;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">2015</td>
<td style="padding-bottom: 1pt; font-weight: bold;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: -10pt; padding-left: 10pt; width: 70%; background-color: #cceeff;">Borrowing from China Construction Bank</td>
<td style="width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; width: 12%; background-color: #cceeff;"><font>6,444,680</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; width: 12%; background-color: #cceeff;"><font>-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: -10pt; padding-left: 10pt;">Borrowing from Huaxia Bank</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;"><font>25,778,720</font></td>
<td style="text-align: left;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;">&#160;</td>
<td style="text-align: right;"><font>3,079,180</font></td>
<td style="text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: -10pt; padding-left: 10pt; background-color: #cceeff;">Borrowing from Bank of China</td>
<td style="background-color: #cceeff;">&#160;</td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; background-color: #cceeff;"><font>101,503,710</font></td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
<td style="background-color: #cceeff;">&#160;</td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; background-color: #cceeff;"><font>70,821,140</font></td>
<td style="text-align: left; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt;">Borrowing from Chongqing Rural Commercial Bank</td>
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"><font>12,969,919</font></td>
<td style="padding-bottom: 1pt; text-align: left;">&#160;</td>
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: left;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; text-align: right;"><font>96,224,375</font></td>
<td style="padding-bottom: 1pt; text-align: left;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-weight: bold; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"><font>&#160;</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 2.5pt; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="font-weight: bold; text-align: right; width: 20px; background-color: #cceeff;"><font>&#160;</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left; width: 20px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<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;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;">$</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"><font>146,697,029</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 2.5pt;">&#160;</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: left;">$</td>
<td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-weight: bold; text-align: right;"><font>170,124,695</font></td>
<td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left;">&#160;</td>
</tr>

</table>
</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_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Schedule of Principal Maturities of Long-term Bank Borrowings</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.3in;">

<tr style="vertical-align: bottom;">
<td style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font: 10pt Times New Roman, Times, Serif;"><strong>December 31, 2015</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>Amount</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 85%; background-color: #cceeff;">2016</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>51,576,265</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">2017</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>53,885,650</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">2018</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,475,080</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">2019</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>18,475,080</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;">2020</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font><font>18,475,080</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">2021</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font><font>9,237,540</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>170,124,695</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; /* border-style: none none double; */border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>

</table>
</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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ScheduleOfDebtInstrumentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(e),(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21538-112644<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21521-112644<br></p></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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810893056">
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<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>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="6" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom: #000000 1pt solid;"><strong>December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
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<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
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<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; /* padding-right: 10px; */white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="font-family: 'times new roman'; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>3,309,850</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>3,524,876</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
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<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>776,518</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,263,055</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,298,780</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<td style="font-family: 'Times New Roman';">&#160;</td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>148,995</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>38,054</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 20px; background-color: #cceeff;">Contingent liability (Note 18)</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font><font>400,000</font></font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font>&#151;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>2,256,977</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 1pt; border-bottom-style: solid;"><font>1,978,603</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><strong>Total </strong></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"><strong>$</strong></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"><strong><font>8,955,663</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000; border-bottom-width: 2.8pt; border-bottom-style: double; background-color: #cceeff;"><strong>$</strong></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810938272">
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<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>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"><strong>2014</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td colspan="2" style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center; border-bottom: #000000 1pt solid;"><strong>2015</strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Customer E</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>8,041,836</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>3,237,308</font><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<td style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Customer F</td>
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<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,405,619</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,517,402</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>&#151;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,539,590</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Customer L</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>111</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>781,342</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Others</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>262,636</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 1%; border-bottom-width: 1pt; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font>1,107,734</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><strong>Total</strong></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>10,710,202</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>8,183,376</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Less:&#160;Current&#160;portion&#160;of&#160;advances&#160;from&#160;customers&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>7,308,535</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><strong>&#160;</strong></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><strong>&#160;</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none solid; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt; background-color: #cceeff;"><strong>$</strong></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><strong><font>8,183,376</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Long term advances from customers</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><strong><font>3,401,667</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><strong>&#160;</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><strong>$</strong></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; border-color: #000000; padding: 0px; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><strong><font>&#151;</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 13<br> -Section A<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6817344416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</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_FairValueDisclosuresAbstract', window );"><strong>FAIR VALUE MEASUREMENTS [Abstract]</strong></a></td>
<td class="text">&#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_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock', window );">Schedule of Nonrecurring Fair Value Measurements</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;">  <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';">&#160;</td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td> <td colspan="18" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong><font style="font-family: 'Times New Roman';">Year ended December 31, 2015</font></strong></td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong><font style="font-family: 'Times New Roman';">Description</font></strong></td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td> <td colspan="2" style="border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"> <p style="margin: 0pt 0; font-family: 'times new roman';"><strong>Carrying<br/>amount</strong></p> </td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong><font style="font-family: 'Times New Roman';">Quoted&#160;Prices&#160;in<br/>Active&#160;Markets<br/>for&#160;Identical<br/>Assets&#160;(Level 1)</font></strong></td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong><font style="font-family: 'Times New Roman';">Significant<br/>Other<br/>Observable<br/> Inputs&#160;(Level 2)</font></strong></td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong><font style="font-family: 'Times New Roman';">Significant<br/>Unobservable<br/>Inputs&#160;(Level 3)</font></strong></td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td> <td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;"><strong><font style="font-family: 'Times New Roman';">Total&#160;Losses</font></strong></td> <td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 9.5pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"><font style="color: #000000; 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border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;">&#160;</td> <td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;">$</td> <td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px; text-align: right; width: 10%; background-color: #cceeff;"><font>-</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; width: 1%; background-color: #cceeff;">&#160;</td> <td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; width: 1%; background-color: #cceeff;">&#160;</td> <td style="border-bottom-width: 2.8pt; border-style: none none double; font-family: 'Times New Roman'; border-color: #000000; padding: 0px 10px 0px 0px; text-align: left; width: 1%; background-color: #cceeff;">$</td> <td style="border-bottom-width: 2.8pt; 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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19296-110258<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6646841648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2015</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_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31,</strong></font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 55%; background-color: #cceeff;"><font style="font-size: 10pt;">Current Tax (Benefit) Expenses</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">(162,621</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Deferred Tax Expenses (Benefit)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,434,386</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(648,271</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-size: 10pt;">)&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>1,271,765</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>&#151;</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>1,137,821</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</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_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of Deferred Tax Assets and Liabilities</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="6" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>December 31,</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; display: none;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; display: none;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="6" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; display: none;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;"><font style="font-size: 10pt;">Net operating loss carried forward</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">27,349,606</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">22,549,975</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Inventory write-down</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">26,141</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Bad debt provision</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">478,367</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">163,120</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Government grants related to assets</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">498,582</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">166,922</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Long-lived asset impairment&amp;depreciation</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">21,009,037</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">19,624,021</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Others</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">748,018</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">485,776</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Sub-total</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">50,109,751</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">42,989,814</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Valuation Allowance</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(50,109,751</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(42,362,849</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>&#151;</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>626,965</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Deferred tax assets are analyzed as:</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Current</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Non-current</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">626,965</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</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_SummaryOfValuationAllowanceTextBlock', window );">Schedule of Changes of Valuation Allowance</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="display: block;" align="center">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 85%; margin-left: 0.1px; margin-right: 0.1px;">

<tr>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"></font></td>
<td colspan="10" style="text-align: center; border-top-style: none; border-right-style: none; border-left-style: none; font-family: 'times new roman'; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"></font></td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">2013</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">2014</strong></font></td>
<td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="font-family: 'times new roman'; border: none #000000; white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font style="font-size: 10pt;"><strong style="margin: 0pt; text-align: center;">2015</strong></font></td>
<td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="width: 5px; background-color: #cceeff;">
<td style="vertical-align: bottom; width: 70%; background-color: #cceeff;"><font style="font-size: 10pt;">Beginning balance</font><br/></td>
<td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"><font style="font-size: 10pt;">$</font></td>
<td style="margin: 0px; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"><font><font style="font-size: 10pt;">37,682,733</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><br/></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"><font style="font-size: 10pt;">$</font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">56,633,867</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; width: 0%; background-color: #cceeff;" align="left"><font style="font-size: 10pt;">$</font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; width: 10%; background-color: #cceeff;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">50,109,751</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; width: 0%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="width: 5px;">
<td style="vertical-align: bottom;"><font style="font-size: 10pt;">Additions (Reversal)</font></td>
<td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><br/></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">56,697,096</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><br/></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(5,168,917</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"><font style="font-size: 10pt;">)</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"><br/></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(5,708,268</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="width: 5px; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;">Deconsolidation</font></td>
<td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"><font><font style="font-size: 10pt;">(39,357,744</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">&#151;</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
<td style="margin: 0px; vertical-align: bottom; background-color: #cceeff;" align="right"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"></td>
</tr>
<tr style="width: 5px;">
<td style="vertical-align: bottom;"><font style="font-size: 10pt;">Foreign exchange effect</font></td>
<td style="vertical-align: bottom; margin: 0pt; padding-right: 8px;"></td>
<td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">1,611,782</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap;"></td>
<td style="vertical-align: bottom; white-space: nowrap;"></td>
<td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(1,355,199</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;"><font style="font-size: 10pt;">)</font></td>
<td style="vertical-align: bottom; white-space: nowrap;"></td>
<td style="vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">(2,038,634</font></font></td>
<td style="white-space: nowrap; padding-right: 8px; margin: 0pt; vertical-align: bottom;" align="left"><font style="font-size: 10pt;">)</font></td>
</tr>
<tr style="width: 5px; background-color: #cceeff;">
<td style="vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Ending Balance</strong></font></td>
<td style="margin: 0pt; padding-right: 8px; vertical-align: bottom; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"><font style="font-size: 10pt;"><strong style="undefined;align: left; margin: 0pt;">$</strong></font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">56,633,867</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"><font style="font-size: 10pt;"><strong style="undefined;align: left; margin: 0pt;">$</strong></font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">50,109,751</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-right: 8px; white-space: nowrap; margin: 0px; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="left"><font style="font-size: 10pt;"><strong style="undefined;align: left; margin: 0pt;">$</strong></font></td>
<td style="white-space: nowrap; margin: 0pt; vertical-align: bottom; background-color: #cceeff; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; border-bottom-color: #000000 !important;" align="right"><font><font style="margin: 0pt; font-size: 10pt;">42,362,849</font></font></td>
<td style="vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</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_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Effective Income Tax Rate Reconciliation</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31,</strong></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2013</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" style="text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>2015</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 55%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">PRC Enterprise Income Tax</font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Preferential income tax rate of a subsidiary</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(2</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(9</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">Effect of different reversal rate</font></td>
<td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">3</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">1</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Additional tax deductions</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(1</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(12</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">Different tax rate in other jurisdictions</font></td>
<td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">6</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Changes in valuation allowance</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(26</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(3</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">Tax credits</font></td>
<td style="font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">(15</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">)%</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: right; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">(3</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">)%</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"><font style="font-size: 10pt;">Withhold tax</font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;"><font>&#151;</font>&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;"><font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">%</font>&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font style="font-size: 10pt;"><font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>&#151;</font></font>&#160;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;<font style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">%</font></font></td>
<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; width: 20px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px 5px; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: rgb(0, 0, 0); padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-size: 10pt;">7</font></font></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHARE BASED COMPENSATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td>&#160;</td>
<td><br/></td>
<td colspan="19" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center;"><font style="font-size: 10pt;"><strong>Year Ended December 31, 2013</strong></font></td>
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<td valign="bottom" style="vertical-align: bottom; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;"><strong>Options&#160;</strong></font><font style="font-size: 10pt;"><strong>granted</strong></font></td>
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<td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"><font style="font-size: 10pt;"><strong>Average</strong></font><br/><font style="font-size: 10pt;"><strong>risk-free</strong></font><br/><font style="font-size: 10pt;"><strong>rate of</strong></font><br/><font style="font-size: 10pt;"><strong>return</strong></font><br/></td>
<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
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<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
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<td colspan="2" style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; vertical-align: bottom;" valign="bottom"><font style="font-size: 10pt;"><strong>Volatility</strong></font><br/><font style="font-size: 10pt;"><strong>rate</strong></font></td>
<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
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<td valign="bottom" style="vertical-align: bottom;">&#160;</td>
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<td style="width: 35%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">April 3, 2013</font><br/></td>
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<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.29</font>%</font></td>
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<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.8</font> times</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>51.78</font>%</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0</font>%</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 1%; background-color: #cceeff;"><br/></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="width: 10%; text-align: right; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3</font>%</font></td>
<td style="width: 1%; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td align="center" style="font-family: 'Times New Roman';">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year Ended December 31, 2014</strong></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Options<br/> granted</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Average<br/> risk-free<br/> rate of<br/> return</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Exercise<br/> multiple</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Volatility<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Dividend<br/> yield</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Post-<br/> vesting<br/> forfeiture<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"><font style="font-size: 10pt;">January 28, 2014</font><br/></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>2.77</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>3.0</font><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;">-</font><font>3.5</font>&#160;times</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>93.0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;"><font>3</font><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; background-color: #cceeff;">-</font><font>9.5</font>%</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td align="center" style="font-family: 'Times New Roman';">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="31" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year Ended December 31, 2015</strong></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Options<br/> granted</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Average<br/> risk-free<br/> rate of<br/> return</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Exercise<br/> multiple</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Volatility<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Dividend<br/> yield</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="5" align="center" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Post-<br/> vesting<br/> forfeiture<br/> rate</strong></font></td>
<td align="center" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35%; background-color: #cceeff;"><font style="font-size: 10pt;">January 12, 2015</font><br/></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"><font style="font-size: 10pt;"><font>2.82</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: center; background-color: #cceeff;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>1.8</font>-<font>3</font> times</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: right; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center;"><font style="font-size: 10pt;"><font>93.0</font><font style="background-color: #cceeff;">%</font></font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"><font style="font-size: 10pt;"><font>0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; text-align: center; background-color: #cceeff;">&#160;</td>
<td colspan="4" style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10%; text-align: center; background-color: #cceeff;"><font style="font-size: 10pt;"><font>5</font>%-<font>8</font>%</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>&#160;</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"><font style="font-size: 10pt;">July 06, 2015</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>3.20</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"><font style="font: 10pt Times New Roman, Times, Serif;"><font><font>3</font> times</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>91.0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>0</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>5</font>%</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: right;"><font style="font: 10pt Times New Roman, Times, Serif;"><font>&#160;</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font>&#160;</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: right;" colspan="4"><font>&#160;</font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 35px; background-color: #cceeff;"><font style="font-size: 10pt;">September 09, 2015</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font style="font-size: 10pt;"><font>2.94</font>%-<font>3.08</font>%</font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10px; text-align: center; background-color: #cceeff;"><font style="font: 10pt Times New Roman, Times, Serif;"><font><font>1.8</font>-<font>3</font> times</font></font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font><font style="font-size: 10pt;"><font>91.0</font>%-<font>92.0</font>%</font></font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font><font style="font-size: 10pt;"><font>0</font>%</font></font></td>
<td style="border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; white-space: nowrap; width: 10px; text-align: center; background-color: #cceeff;" colspan="4"><font><font style="font-size: 10pt;"><font>5</font>%-<font>8</font>%</font></font></td>
<td style="text-align: left; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; font-family: 'Times New Roman'; width: 1px; background-color: #cceeff;">&#160;</td>
</tr>

</table>
</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_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Summary of Stock Option Activity</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" align="center" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Number&#160;of<br/> Options</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Weighted<br/> Average<br/> Exercise<br/> Price</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Weighted<br/> Average<br/> Remaining<br/> Contract&#160;Life</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Aggregate<br/> Intrinsic<br/> Value</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; width: 40%; padding-left: 0px; padding-top: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Options outstanding on January 1, 2015</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">12,375,416</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.87</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 12%; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"><font style="font-size: 10pt;">Granted</font></td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">8,134,375</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.59</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Forfeited</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(1,307,743</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.56</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding-left: 10px; padding-top: 0px;"><font style="font-size: 10pt;">Expired</font></td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(557,882</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.59</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding-left: 10px; padding-top: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Exercised</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(1,115,625</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.25</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 2.8pt; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Options outstanding on December 31, 2015</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">17,528,541</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.50</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">7.48</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">2,973,866</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Options vested or expected to vest on December 31, 2015</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">12,978,233</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">0.40</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-style: none none double; border-bottom-width: 2.8pt; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">6.12</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">3,499,985</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-indent: none; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Options exercisable on December 31, 2015</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">9,965,138</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">0.42</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 2.80pt double; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">6.38</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td>
<td style="text-align: right; border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">2,434,628</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
</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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6808641568">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND BALANCES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<tr style="vertical-align: bottom;">
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">December&#160;31,</font></td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="font-weight: bold; padding-bottom: 1pt;">&#160;</td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">2014</font></td>
<td style="font-weight: bold; padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-weight: bold; padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left;"><font style="font-size: 10pt;">Amounts due from related parties</font></td>
<td>&#160;</td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="width: 654.671875px; text-align: left; text-indent: -10pt; padding-left: 10pt;"><font style="font-size: 10pt;">Zhenjiang Daqo</font></td>
<td style="width: 9px;">&#160;</td>
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<td style="width: 8px; text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="width: 8px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td style="width: 8px; text-align: left;">&#160;</td>
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<td>&#160;</td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">5,110,085</font></font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left;">&#160;</td>
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<td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 1pt;"><font style="font-size: 10pt;">Others</font></td>
<td style="padding-bottom: 1pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font><font style="font-size: 10pt;">325,037</font></font></td>
<td style="text-align: left; padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-bottom: 1pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"><font><font style="font-size: 10pt;">54,644</font></font></td>
<td style="text-align: left; padding-bottom: 1pt;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: -10pt; padding-left: 10pt;">&#160;</td>
<td>&#160;</td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: -10pt; padding-left: 10pt; padding-bottom: 2.5pt;"><font style="font-size: 10pt;">Total</font></td>
<td style="padding-bottom: 2.5pt;">&#160;</td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font><font style="font-size: 10pt;">9,986,968</font></font></td>
<td style="text-align: left; padding-bottom: 2.5pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="padding-bottom: 2.5pt;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;"><font><font style="font-size: 10pt;">284,633</font></font></td>
<td style="text-align: left; padding-bottom: 2.5pt;">&#160;</td>
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<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="font-size: 10pt;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p>
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<td align="left" valign="top" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
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<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
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<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><br/></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><br/></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></strong></font>&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; display: none;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 15%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Solar</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">54,275,617</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">37,390,575</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
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<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
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<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,146,054</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo New Material</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>4,950,746</font></font><br/><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,563,165</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Chongqing Daqo Tailai</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>1,755,326</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>144,102</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Nanjing Daqo&#160;Transformer</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,595,659</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Group</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,339,128</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33,758</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Jiangsu Daqo</font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,200,018</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="text-align: left; /* text-indent: 10pt; */ border: none #000000; padding: 0px; width: 20px; background-color: #cceeff;"><font><font style="font-size: 13.3333330154419px;">Nanjing Daqo Electric</font></font></td>
<td align="left" valign="top" style="font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>742,747</font></font><br/></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
<td align="left" valign="top" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px; background-color: #cceeff;"><font style="font-size: 10pt;"><font>-</font></font><br/></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px; background-color: #cceeff;"></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Others*</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">734,201</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">118,873</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" valign="top" style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: top; text-align: left; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; text-align: left; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-size: 1pt; text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" valign="top" style="/* text-indent: 10pt; */ font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Total</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">89,698,151</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" valign="top" style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" valign="top" style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">46,396,527</font></font></td>
<td align="left" valign="top" style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
</tr>

</table>
</div>
</div>
</div>
<div style="font-size: 10pt;" class="CursorPointer"><br/></div>
<table width="100%" cellpadding="0" border="0" cellspacing="0">

<tr>
<td style="width: 2%; vertical-align: top;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; /* text-indent: 0.5in; */vertical-align: top;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">&#160;*</font></p>
</td>
<td style="width: 98%;">
<div>
<div style="margin: 0px; text-indent: 0px;"><font style="font-size: 10pt;">The remaining balance of amounts due to related parties of $118,873 as of December 31, 2015 was comprised of Zhenjiang Moeller&#160;and Daqo Sailfar in the amount of $<font>107,771</font> and $<font>11,102</font>, respectively.</font></div>
</div>
</td>
</tr>

</table>
</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_ScheduleOfRelatedPartyTransactionsTableTextBlock', window );">Schedule of Related Party Transactions</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="font-family: 'times new roman', times; font-size: 10pt;">
<div style="font-size: 10pt;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;&#160;</font></p>
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<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">

<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Transaction</strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="10" align="left" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Year Ended December 31,</strong></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td nowrap="nowrap" align="left" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Name of Related parties</strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;"> </strong></font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong style="font-size: 10pt;">Nature</strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2013</font></strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></strong></font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td colspan="2" align="left" style="border-bottom: #000000 1pt solid; text-align: center; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></strong></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 25%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Group</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; width: 36%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">486,948</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">813,105</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,821,462</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15,043,550</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;">Repayment of interest free loans</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">813,105</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,115,813</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,217,257</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Zhenjiang Daqo</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,471,866</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,554,320</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,111,239</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo Solar</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,595,680</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">783,705</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">76,881,392</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">157,241,390</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">127,060,826</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">28,379,678</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">166,231,092</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">151,990,672</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Nanjing Daqo</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">112</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>&#151;</font></font><br/><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>973,898</font></font><br/><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>13,456,861</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>&#151;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; font-family: 'times new roman', times; font-size: 10pt; display: inline !important;"><font>2,921,693</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>13,456,861</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">Xinjiang&#160;Daqo&#160;Investment</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">58,389,643</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">98,367,234</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">72,946,700</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">40,193,785</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">93,219,846</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">73,252,506</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Daqo New Material</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>7,729,501</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,082,241</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>4,600,117</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,285,114</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><br/></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Rental expense</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font>&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
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<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,050,661</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
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<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>2,724,790</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>375,528</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Raw material</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>9,938</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-family: 'Times New Roman';">Income from disposal of fixed assets</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>6,458</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>6,367,640</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"><font><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font><font>6,367,640</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Others subsidiaries under Daqo Group</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">636</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font>&#160;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,296</font>&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset*</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">157,742</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,989,686</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,488,330</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Raw material</font></td>
<td align="left" style="font-size: 8pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-size: 8pt; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,817</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Total</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Sales</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,471,866</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">19,150,112</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: left; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-right-style: none; border-bottom-style: double; border-left-style: none; text-align: right; font-family: 'times new roman'; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff; border-top-width: 1pt !important; border-top-style: solid !important; border-top-color: #000000 !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,894,944</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Income from disposal of fixed assets</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,458</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Fixed asset</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">157,742</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,201,424</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,863,858</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Purchase-Raw material</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">32,755</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Rental expense</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,071,287</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,050,661</font></font></td>
</tr>
<tr style="vertical-align: bottom;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Proceeds from interest free loans</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">136,084,140</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">275,134,122</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">245,957,818</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Repayment of interest free loans</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">69,386,568</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">275,088,560</font></font></td>
<td align="left" style="text-align: left; font-family: 'times new roman'; font-size: 8pt; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="font-family: 'times new roman'; font-size: 8pt; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt; font-family: 'times new roman', times;">$</font></td>
<td align="left" style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 8pt; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">276,575,346</font></font></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p>
<div class="CursorPointer">
<table width="100%" cellpadding="0" border="0" cellspacing="0">

<tr>
<td style="width: 1%; vertical-align: top;"><font style="font-size: 10pt; font-family: 'times new roman', times;">*</font><br/></td>
<td style="width: 1%;"><br/></td>
<td style="width: 98%;">
<div>
<div style="font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The purchase of fixed assets of $<font>3,488,330</font> was comprised of Nanjing&#160;Daqo&#160;Electric, Nanjing&#160;Daqo&#160;Transformer, Zhenjiang&#160;Moeller, Jiangsu&#160;Daqo, Jiangsu&#160;Daqo&#160;High Voltage Switchgear, Intelligent Apparatus in the amount of $<font>93,795</font>, $<font>448,184</font>, $<font>2,005,617</font>, $<font>11,423</font>, $<font>483,764</font>, $<font>445,547</font>&#160;respectively.</font></div>
</div>
</td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p>
</div>
</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_dq_ScheduleOfRelatedPartyBalancesLoansTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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></div>
<a href="javascript:void(0);" 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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dq_ScheduleOfRelatedPartyBalancesPayablesTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6796832016">
<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, 2015</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_EarningsPerShareAbstract', window );"><strong>EARNINGS PER SHARE [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 23pt;">&#160;</p>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="10" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>Year ended December 31,</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2013</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2014</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2015</strong></td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Numerator used in basic and diluted earnings per share:</strong></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 61%;">Net (loss) income attributable to Daqo New Energy Corp. ordinary shareholders&#151;basic and diluted</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 1%;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>(70,943,484</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">)&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>16,649,176</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;">&#160;</td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">$</td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>12,956,889</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><strong>Denominator used in basic and diluted earnings per share:</strong></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">Weighted average number of ordinary shares outstanding used in computing earnings per share&#151;basic</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>173,068,420</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>206,349,976</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font>258,015,851</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Plus: share options</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>&#151;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>5,003,667</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>3,396,082</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Weighted average number of ordinary shares outstanding used in computing earnings per share&#151;diluted</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>173,068,420</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>211,353,643</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>261,411,933</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&#151;Basic</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>(0.41</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">)&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>0.08</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>0.05</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;">NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE&#151;Diluted</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;">$</td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>(0.41</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;">)</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><br/></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font><font>0.08</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 20px;"></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><br/></td>
<td style="border-color: #000000; border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"><font>0.05</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 20px;"></td>
</tr>

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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791499472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" align="center" style="font-style: normal;font-variant: normal;font-weight: normal;font-stretch: normal;font-size: 10pt;line-height: normal;font-family: 'times new roman', times, serif;border-collapse: collapse;width: 80%;">  <tr style="vertical-align: bottom; background-color: #cceeff;"> <td nowrap="nowrap" style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Year ending December 31</td> <td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><br/></td> <td nowrap="nowrap" style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; text-indent: 10pt; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 80%;">2016 (Note 19)</td> <td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%;">&#160;</td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;">$</td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 17%;"><font>1,050,661</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 10pt; text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Total</td> <td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,050,661</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td> </tr>  </table> </div> </div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></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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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6810998304">
<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>
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<tr><th class="th"><div>Dec. 31, 2015</div></th></tr>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="10" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>Year ended December 31,</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
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<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2013</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2014</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: #000000 1pt solid; border-bottom: none; border-color: #000000; padding: 0px; text-align: center;">&#160;</td>
<td colspan="2" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; text-align: center;"><strong>2015</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
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<td width="100%" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 70%; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font>*</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 10%; text-align: right; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; background-color: #cceeff;">&#160;</td>
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<tr style="vertical-align: bottom;">
<td style="/* text-indent: 10pt; */ font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Operating costs and expenses</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"><font>150,147,024</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right;">&#160;</td>
<td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"><font>*</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 10px; text-align: right;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; text-align: right;"><font><font>*</font></font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Net income (loss)</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"><font>(150,147,024</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; background-color: #cceeff;">)&#160;</td>
<td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"><font>*</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">&#160;</td>
<td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; text-align: right; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; background-color: #cceeff;">&#160;</td>
</tr>

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<div><font style="font-size: 10pt;">The lease term was amended at the beginning of </font><font style="font-size: 10pt;">2013</font><font style="font-size: 10pt;"> and reduced the rent to $</font><font style="font-size: 10pt;">0</font><font style="font-size: 10pt;"> per month and was later terminated on December 30, 2013.</font></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6790468816">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SEGMENT INFORMATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31, 2013</strong></font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"><font style="font-size: 10pt;">Revenue - External</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">76,721,105</font></font></td>
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<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">32,278,700</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font style="font-size: 10pt;">-&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">108,999,805</font></font></td>
<td style="text-align: left; padding: 0px 5px; white-space: nowrap; font-family: 'Times New Roman'; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Revenue - Intersegment</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">13,195,838</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font><font style="font-size: 10pt;">(13,195,838</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;">-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total revenue</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">89,916,943</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">32,278,700</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(13,195,838</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">108,999,805</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total Cost of revenue</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">98,684,325</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">49,614,921</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(13,195,838</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">135,103,408</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Gross loss</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(8,767,382</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px 0px 0px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(17,336,221</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; border-bottom-width: 2.8pt; border-style: none none double; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(26,103,603</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)</strong></font></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31, 2014</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Polysilicon</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Wafer</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Elimination</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"><font style="font-size: 10pt;">Revenue - External</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">127,692,325</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">54,879,527</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td><font style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 10%; background-color: #cceeff;">-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">182,571,852</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Revenue - Intersegment</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">29,424,883</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;"><font><font style="font-size: 10pt;">(29,424,883</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; text-align: right;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: right;"><font style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;">-</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total revenue</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">157,117,208</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">54,879,527</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(29,424,883</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">182,571,852</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total Cost of revenue</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">119,703,550</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">47,861,811</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(28,256,850</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">139,308,511</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Gross Profit</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>37,413,658</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>7,017,716</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(1,168,033</font></strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)&#160;</strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>43,263,341</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; border-collapse: collapse;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Year ended December 31, 2015</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Polysilicon</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Wafer</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Elimination</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 48%; background-color: #cceeff;"><font style="font-size: 10pt;">Revenue &#150; External</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">125,916,457</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><br/></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">56,124,511</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><br/></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: right; background-color: #cceeff;"><br/></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">182,040,968</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Revenue - Intersegment</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">23,485,364</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td><font><font style="font-size: 10pt;">(23,485,364</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-top-style: none; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right;"><font><font style="font-size: 10pt;">-</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Total Revenue</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">149,401,821</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">56,124,511</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">(23,485,364</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">182,040,968</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total Cost of revenue</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">121,193,840</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">46,763,308</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">(23,466,065</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">144,491,083</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>Gross Profit</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>$</strong></font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>28,207,981</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>9,361,203</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>(19,299</font></strong></font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: left; background-color: #cceeff;"><font style="font-size: 10pt;"><strong>)&#160;</strong></font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">&#160;</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"><strong><font>37,549,885</font></strong></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><br/></td>
</tr>

</table>
</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_ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock', window );">Schedule of Revenues of Major Customers</a></td>
<td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in;">&#160;</p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 80%; margin-left: 1in;">

<tr style="vertical-align: bottom;">
<td nowrap="nowrap" style="font-family: 'Times New Roman';">&#160;</td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="10" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>Year ended December 31,</strong></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><strong> </strong></td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2013</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2014</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
<td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px;"><strong>2015</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;">Customer B</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"><font><font>19,644,488</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">$</font>&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font><font>23,882,302</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;"><font style="color: #000000; font-family: 'times new roman'; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: left; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">$</font>&#160;</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font><font>18,125,773</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px;">Customer C</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>*</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"><font>18,210,196</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right;"><font>19,595,911</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; width: 52%; background-color: #cceeff;">Customer D</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 13%; background-color: #cceeff;"><font>13,471,873</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font>*</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%; background-color: #cceeff;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; width: 13%; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; width: 1%; background-color: #cceeff;">&#160;</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Customer J</td>
<td style="font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; /* padding-right: 10px; */ white-space: nowrap; text-align: right;"><font>35,094,472</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;">Customer K</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font>*</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"><font>*</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border: none #000000; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; text-align: right; background-color: #cceeff;"><font>20,465,558</font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;">&#160;</td>
</tr>

</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">&#160;</p>
<div align="left">
<div style="font-size: 1pt; border-top: Black 1pt solid; width: 20%;">&#160;</div>
</div>
<div class="CursorPointer">
<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;">

<tr style="vertical-align: top;">
<td style="width: 2%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;"><font style="font: 10pt Times New Roman, Times, Serif;">*</font></td>
<td style="width: 1%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">&#160;</td>
<td style="width: 97%; padding-right: 0.8pt; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none;">
<div>Represents less than 10%</div>
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<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></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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 30<br> -URI http://asc.fasb.org/extlink&amp;oid=51669610&amp;loc=d3e8906-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=51669610&amp;loc=d3e8813-108599<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51669610&amp;loc=d3e8721-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35741047&amp;loc=d3e13816-109267<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=51669610&amp;loc=d3e8736-108599<br></p></div>
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<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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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812663472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ORGANIZATION AND PRINCIPAL ACTIVITIES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Aug. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromMinorityShareholders', window );">Proceeds from non-controlling interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,516,457<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=dq_DaqoXinjiangInvestmentCoLtdMember', window );">Xinjiang Daqo Investment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="nump">1.00%<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember', window );">Daqo Group [Member] | Xinjiang Daqo [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<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_ProceedsFromMinorityShareholders', window );">Proceeds from non-controlling interest</a></td>
<td class="nump">$ 2,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of voting equity interests acquired at the acquisition date in the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
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<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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from a noncontrolling interest. Includes, but is not limited to, purchase of additional shares or other increase in noncontrolling interest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6819974832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Additional Information) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 28, 2015</div></th>
<th class="th"><div>May. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Basis of presentation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_WorkingCapital', window );">Working capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (186,600,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,490,011<span></span>
</td>
<td class="nump">$ 7,068,483<span></span>
</td>
<td class="nump">$ 7,831,084<span></span>
</td>
<td class="nump">$ 6,679,024<span></span>
</td>
</tr>
<tr class="ro">
<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 bank borrowings, including current portion of long-term bank borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">123,936,995<span></span>
</td>
<td class="nump">159,803,876<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OtherCommitmentDueInNextTwelveMonths', window );">Capital commitments relating to purchases of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_BankAcceptancesExecutedAndOutstanding', window );">Bank accepted note facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated', window );">Consecutive years in which net income and positive cash flow from operations generated</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueFromRelatedPartiesCurrent', window );">Amounts due from related parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 284,633<span></span>
</td>
<td class="nump">9,986,968<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51,576,265<span></span>
</td>
<td class="nump">69,360,869<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs</a></td>
<td class="nump">$ 28,000,000<span></span>
</td>
<td class="nump">$ 54,600,000<span></span>
</td>
<td class="nump">27,996,959<span></span>
</td>
<td class="nump">54,624,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,047,584<span></span>
</td>
<td class="nump">16,649,176<span></span>
</td>
<td class="num">(221,090,508)<span></span>
</td>
<td class="text">&#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_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Cash flow from operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66,426,213<span></span>
</td>
<td class="nump">45,619,729<span></span>
</td>
<td class="num">(16,525,817)<span></span>
</td>
<td class="text">&#160;<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_RestrictedCashAndInvestmentsAbstract', window );"><strong>Restricted cash</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RestrictedCashAndCashEquivalents', window );">Restricted cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,062,714<span></span>
</td>
<td class="nump">22,169,236<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_InventoryAdjustmentsAbstract', window );"><strong>Inventories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_InventoryWriteDown', window );">Inventory write-down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">62,422<span></span>
</td>
<td class="nump">175,568<span></span>
</td>
<td class="nump">29,905,734<span></span>
</td>
<td class="text">&#160;<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_PrepaidExpenseNoncurrentAbstract', window );"><strong>Prepaid land use rights</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LeaseAndRentalExpense', window );">Lease Expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">595,716<span></span>
</td>
<td class="nump">$ 628,052<span></span>
</td>
<td class="nump">781,706<span></span>
</td>
<td class="text">&#160;<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_AssetImpairmentChargesAbstract', window );"><strong>Impairment of long-lived assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AssetImpairmentCharges', window );">Long-lived asset impairment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,622,588<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">158,424,827<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShippingHandlingAndTransportationCosts', window );">Shipping and handling costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,708,962<span></span>
</td>
<td class="nump">$ 2,054,786<span></span>
</td>
<td class="nump">1,901,384<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,578,865<span></span>
</td>
<td class="nump">926,173<span></span>
</td>
<td class="nump">5,249,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">690,889<span></span>
</td>
<td class="nump">113,735<span></span>
</td>
<td class="nump">1,172,160<span></span>
</td>
<td class="text">&#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_ForeignCurrencyTranslationAbstract', window );"><strong>Foreign currency translation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,891,550<span></span>
</td>
<td class="nump">$ 24,356,970<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_NoncontrollingInterestAbstract', window );"><strong>Noncontrolling interest</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,302,027<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract', window );"><strong>Treasury Stock</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockRepurchaseProgramAuthorizedAmount1', window );">Share repurchase program, authorized amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,000,000<span></span>
</td>
<td class="text">&#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_PaymentsForRepurchaseOfCommonStock', window );">Purchase price of treasury stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,350,164<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember', window );">Daqo Group [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Basis of presentation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OtherCommitmentDueInNextTwelveMonths', window );">Capital commitments relating to purchases of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 46,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueFromRelatedPartiesCurrent', window );">Amounts due from related parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 5,110,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=dq_CommonStockOutstandingMember', window );">Common Stock Outstanding [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Basis of presentation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,850<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ProfitLoss', window );">Net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract', window );"><strong>Treasury Stock</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_TreasuryStockSharesAcquired', window );">Number of shares repurchased</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,356,900<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 information pertaining to consecutive years in which net income and positive cash flow from operations generated.</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 style="white-space:nowrap;">dq_ConsecutiveTermInWhichNetIncomeAndPositiveCashFlowFromOperationsGenerated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dq_</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_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 );">- Definition</a><div><p>Government Grants And Subsidies Abstract</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 style="white-space:nowrap;">dq_GovernmentGrantsAndSubsidiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">dq_GrantsRelatedToAssetsReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">dq_UnrestrictedCashSubsidies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">dq_WorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_AssetImpairmentChargesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6897108&amp;loc=SL6897125-166521<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetReportingCurrencyDenominatedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_BankAcceptancesExecutedAndOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 drafts and bills of exchange that have been accepted by the reporting bank, or by others for its own account, as its liability to holders of the drafts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BankAcceptancesExecutedAndOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph k<br> -Subparagraph 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_ForeignCurrencyTranslationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_InventoryAdjustmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4542-108314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryWriteDown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_LeaseAndRentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 27<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NoncontrollingInterestAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OtherCommitmentDueInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum amount of other commitment maturing in the next fiscal year following the latest fiscal year for commitments not otherwise specified in the taxonomy. Excludes commitments explicitly modeled in this taxonomy, including but not limited to, long-term and short-term purchase commitments, recorded and unrecorded purchase obligations, supply commitments, registration payment arrangements, leases, debt, product warranties, guarantees, environmental remediation obligations, and pensions.</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 style="white-space:nowrap;">us-gaap_OtherCommitmentDueInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_OtherCostsAndDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51667946&amp;loc=d3e61069-111654<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Handling Costs<br> -URI http://asc.fasb.org/extlink&amp;oid=51575068<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51671805&amp;loc=d3e60635-111653<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18726-107790<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 45<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6408413&amp;loc=d3e221937-122793<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Shipping Costs<br> -URI http://asc.fasb.org/extlink&amp;oid=51575562<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShippingHandlingAndTransportationCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stock repurchase plan authorized.</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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract</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>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_TreasuryStockSharesAcquired</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812262384">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Concentration of Credit Risk) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th" colspan="2"><div>Dec. 31, 2015</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Accounts receivable, allowance for doubtful accounts</a></td>
<td class="nump">$ 1,087,465<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 3,189,110<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">$ 19,849,608<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 8,714,261<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember', window );">Sales [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="nump">51.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">23.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">30.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerOneMember', window );">Customer C [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 2,213,393<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerTwoMember', window );">Customer J [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
<td class="nump">$ 2,996,042<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,578,947<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerThreeMember', window );">Customer M [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,330,145<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerFourMember', window );">Customer H [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
<td class="nump">$ 6,354,510<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 1,071,415<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerFiveMember', window );">Customer N [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Concentration of credit risk</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">2,315,035<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerSixMember', window );">Customer B [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
<td class="nump">$ 2,299,732<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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; width: 12pt;" 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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Subparagraph a(1)<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 4<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6351-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13531-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6404-108592<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_FairValueConcentrationOfRiskFinancialAssetsBalanceSheetGroupingsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</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_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_MajorCustomersAxis=dq_CustomerOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_MajorCustomersAxis=dq_CustomerTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerSixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerSixMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811563984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Property, Plant and Equipment) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalized', window );">Interest expense capitalized</a></td>
<td class="nump">$ 2,825,879<span></span>
</td>
<td class="nump">$ 1,960,259<span></span>
</td>
<td class="text"> <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_Depreciation', window );">Depreciation of property, plant and equipment</a></td>
<td class="nump">31,361,026<span></span>
</td>
<td class="nump">28,007,943<span></span>
</td>
<td class="nump">$ 52,250,595<span></span>
</td>
</tr>
<tr class="ro">
<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 (loss) income</a></td>
<td class="nump">$ 13,047,584<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (221,090,508)<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_EarningsPerShareBasic', window );">Basic income per share</a></td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.41)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ChangeInAccountingEstimateByTypeAxis=us-gaap_ServiceLifeMember', window );">Service Life [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_Depreciation', window );">Depreciation of property, plant and equipment</a></td>
<td class="num">$ (18,700,000)<span></span>
</td>
<td class="num">$ (18,700,000)<span></span>
</td>
<td class="text">&#160;<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 (loss) income</a></td>
<td class="nump">$ 18,700,000<span></span>
</td>
<td class="nump">$ 18,700,000<span></span>
</td>
<td class="text">&#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_EarningsPerShareBasic', window );">Basic income per share</a></td>
<td class="nump">$ 0.07<span></span>
</td>
<td class="nump">$ 0.09<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember', window );">Buildings and plant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">30 years<span></span>
</td>
<td class="text">20 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember', window );">Machinery and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Furniture, fixtures and equipment [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Furniture, fixtures and equipment [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember', window );">Motor vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract', window );"><strong>Property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_InterestCostsCapitalized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Allowance for Funds Used during Construction<br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestCostsCapitalized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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></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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ChangeInAccountingEstimateByTypeAxis=us-gaap_ServiceLifeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_ChangeInAccountingEstimateByTypeAxis=us-gaap_ServiceLifeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</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_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></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_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812722512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SUMMARY OF PRINCIPAL ACCOUNTING POLICIES (Share-based Compensation) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems', window );"><strong>Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Share-based compensation</a></td>
<td class="nump">$ 3,687,951<span></span>
</td>
<td class="nump">$ 1,792,819<span></span>
</td>
<td class="nump">$ 1,881,401<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember', window );">Selling, general and administrative expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems', window );"><strong>Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_AllocatedShareBasedCompensationExpense', window );">Share-based compensation</a></td>
<td class="nump">$ 3,323,948<span></span>
</td>
<td class="nump">1,544,078<span></span>
</td>
<td class="nump">1,743,768<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember', window );">Research and development expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems', window );"><strong>Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AllocatedShareBasedCompensationExpense', window );">Share-based compensation</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">12,310<span></span>
</td>
<td class="nump">60,987<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_CostOfSalesMember', window );">Cost of sales [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems', window );"><strong>Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_AllocatedShareBasedCompensationExpense', window );">Share-based compensation</a></td>
<td class="nump">$ 364,003<span></span>
</td>
<td class="nump">$ 236,431<span></span>
</td>
<td class="nump">$ 76,646<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section F<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</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></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_CostOfSalesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_CostOfSalesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812905152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EXIT and DISPOSAL ACTIVITIES (Details)<br> &#165; in Millions</strong></div></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, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CNY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>CNY (&#165;)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems', window );"><strong>Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Reclassification of foreign currency translation gain from other comprehensive income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (9,980,051)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment charge</a></td>
<td class="nump">$ 1,622,588<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">158,424,827<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_SeveranceCosts1', window );">Employee termination costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_BusinessExitCosts1', window );">Relocation costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RestructuringAndRelatedCostExpectedCost1', window );">Expected relocation costs</a></td>
<td class="nump">2,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RestructuringCharges', window );">Maintenance expenses</a></td>
<td class="nump">300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_OtherExpenseMember', window );">Wages [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RestructuringCharges', window );">Maintenance expenses</a></td>
<td class="nump">200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=dq_ElectricityFeesMember', window );">Electricity fees [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RestructuringCharges', window );">Maintenance expenses</a></td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember', window );">Selling, general and administrative expenses [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">100,000<span></span>
</td>
<td class="nump">800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember', window );">Carrying Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentFairValueDisclosure', window );">Carrying value of assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">308,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairedLongLivedAssetsHeldAndUsedByTypeAxis=dq_SignificantProductionAssetsMember', window );">Significant Production Assets [Member] | Carrying Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Carrying value of assets</a></td>
<td class="nump">1,600,000<span></span>
</td>
<td class="nump">116,100,000<span></span>
</td>
<td class="nump">$ 144,700,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 720.5<span></span>
</td>
</tr>
<tr class="ro">
<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">1,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_PropertyPlantAndEquipmentRelocated', window );">Carrying value of assets relocated</a></td>
<td class="nump">1,100,000<span></span>
</td>
<td class="nump">46,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 7.0<span></span>
</td>
<td class="nump">286.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_PropertyPlantAndEquipmentYetToBeRelocated', window );">Carrying value of assets yet to be relocated</a></td>
<td class="nump">$ 59,100,000<span></span>
</td>
<td class="nump">70,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 383.9<span></span>
</td>
<td class="nump">&#165; 434.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_AccumulatedImpairmentLoss', window );">Accumulated impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_AccumulatedImpairmentLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 accumulated impairment loss for an asset  as of balance-sheet date.</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 style="white-space:nowrap;">dq_AccumulatedImpairmentLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_dq_PropertyPlantAndEquipmentRelocated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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, that have been relocated.</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 style="white-space:nowrap;">dq_PropertyPlantAndEquipmentRelocated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_dq_PropertyPlantAndEquipmentYetToBeRelocated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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, that have yet to be relocated.</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 style="white-space:nowrap;">dq_PropertyPlantAndEquipmentYetToBeRelocated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.P.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.P.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessExitCosts1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 gain (loss) in the disposal group, including discontinued operation, recognized in the statement of income as a result of the sale or complete or substantially complete liquidation of an investment in a foreign 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 958<br> -SubTopic 225<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=51659069&amp;loc=d3e92212-112881<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Impairment<br> -URI http://asc.fasb.org/extlink&amp;oid=6515133<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PropertyPlantAndEquipmentFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_RestructuringAndRelatedCostExpectedCost1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.P.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringAndRelatedCostExpectedCost1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_RestructuringCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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. Excludes expenses related to 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.P.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.P.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_RestructuringCostAndReserveLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_RestructuringCostAndReserveLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_SeveranceCosts1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 5.P.4(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.P.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 420<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)(10)<br> -URI http://asc.fasb.org/extlink&amp;oid=58740216&amp;loc=d3e1928-114920<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 5<br> -Section P<br> -Subsection 3, 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SeveranceCosts1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_IncomeStatementLocationAxis=us-gaap_OtherExpenseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_OtherExpenseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=dq_ElectricityFeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=dq_ElectricityFeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairedLongLivedAssetsHeldAndUsedByTypeAxis=dq_SignificantProductionAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_ImpairedLongLivedAssetsHeldAndUsedByTypeAxis=dq_SignificantProductionAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811053424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FOLLOW-ON EQUITY OFFERING (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Feb. 28, 2015</div></th>
<th class="th"><div>May. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</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_StockholdersEquityNoteAbstract', window );"><strong>FOLLOW-ON EQUITY OFFERING [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_DepositarySharesIssuedDuringPeriodShares', window );">America depositary shares (ADSs) issued, shares</a></td>
<td class="nump">1,540,000<span></span>
</td>
<td class="nump">2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodSharesOther', window );">Follow-on equity offering, net of issuance costs, shares</a></td>
<td class="nump">38,500,000<span></span>
</td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PaymentsOfStockIssuanceCosts', window );">Issuance cost for ordinary shares</a></td>
<td class="nump">$ 2,000,000<span></span>
</td>
<td class="nump">$ 3,400,000<span></span>
</td>
<td class="nump">$ 2,033,041<span></span>
</td>
<td class="nump">$ 3,375,553<span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs</a></td>
<td class="nump">$ 28,000,000<span></span>
</td>
<td class="nump">$ 54,600,000<span></span>
</td>
<td class="nump">$ 27,996,959<span></span>
</td>
<td class="nump">$ 54,624,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_DepositarySharesIssuedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 depositary shares issued 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 style="white-space:nowrap;">dq_DepositarySharesIssuedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_us-gaap_PaymentsOfStockIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 cost incurred directly with the issuance of an equity security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfStockIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockIssuedDuringPeriodSharesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 during the period that is attributable to transactions involving issuance of stock not separately disclosed.</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 style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockIssuedDuringPeriodValueOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</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 style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockholdersEquityNoteAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_StockholdersEquityNoteAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812016784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ALLOWANCES FOR DOUBTFUL RECEIVABLES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward', window );"><strong>Analysis of allowances for accounts receivable is as follows:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivable', window );">Beginning of the year</a></td>
<td class="nump">$ 3,189,110<span></span>
</td>
<td class="nump">$ 7,160,782<span></span>
</td>
<td class="nump">$ 1,592,467<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ProvisionForReversalOfDoubtfulAccounts', window );">Allowances (Reversal) during the year</a></td>
<td class="num">(2,026,567)<span></span>
</td>
<td class="num">(3,823,744)<span></span>
</td>
<td class="nump">5,482,019<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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="num">(75,078)<span></span>
</td>
<td class="num">(147,928)<span></span>
</td>
<td class="nump">86,296<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_AllowanceForDoubtfulAccountsReceivable', window );">Closing balance</a></td>
<td class="nump">1,087,465<span></span>
</td>
<td class="nump">3,189,110<span></span>
</td>
<td class="nump">$ 7,160,782<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries', window );">Allowances reversed during the period</a></td>
<td class="nump">$ 2,026,567<span></span>
</td>
<td class="nump">$ 3,823,744<span></span>
</td>
<td class="text">&#160;<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 style="white-space:nowrap;">dq_AllowanceForDoubtfulAccountsReceivableForeignExchangeEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ProvisionForReversalOfDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 (income) 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>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 style="white-space:nowrap;">dq_ProvisionForReversalOfDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_AllowanceForDoubtfulAccountsReceivableRecoveries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 recoveries of receivables doubtful of collection that were previously charged off.</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 style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableRecoveries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a 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 style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812692032">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract', window );"><strong>PREPAID EXPENSE AND OTHER CURRENT ASSETS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherInventoriesSpareParts', window );">Spare parts</a></td>
<td class="nump">$ 6,052,315<span></span>
</td>
<td class="nump">$ 6,385,388<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">5,552,772<span></span>
</td>
<td class="nump">5,857,017<span></span>
</td>
</tr>
<tr class="ro">
<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">347,631<span></span>
</td>
<td class="nump">226,564<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">282,423<span></span>
</td>
<td class="nump">366,900<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_PrepaidExpenseAndOtherAssetsCurrent', window );">Total</a></td>
<td class="nump">$ 12,235,141<span></span>
</td>
<td class="nump">$ 12,835,869<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_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OtherInventoriesSpareParts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherInventoriesSpareParts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PrepaidInsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6787-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51662447&amp;loc=d3e5865-108316<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=51662447&amp;loc=d3e5879-108316<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Assets<br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidInsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PrepaidTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51662447&amp;loc=d3e5865-108316<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Assets<br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6787-107765<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 10<br> -Section 05<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=51662447&amp;loc=d3e5879-108316<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6646587104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVENTORIES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>INVENTORIES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
<td class="nump">$ 2,343,104<span></span>
</td>
<td class="nump">$ 1,362,944<span></span>
</td>
<td class="text">&#160;<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_InventoryWorkInProcess', window );">Work-in-process</a></td>
<td class="nump">5,626,531<span></span>
</td>
<td class="nump">5,411,360<span></span>
</td>
<td class="text">&#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_InventoryFinishedGoods', window );">Finished goods</a></td>
<td class="nump">2,746,304<span></span>
</td>
<td class="nump">2,807,480<span></span>
</td>
<td class="text">&#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_InventoryNet', window );">Total</a></td>
<td class="nump">10,715,939<span></span>
</td>
<td class="nump">9,581,784<span></span>
</td>
<td class="text">&#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_InventoryWriteDown', window );">Inventory write-down</a></td>
<td class="nump">$ 62,422<span></span>
</td>
<td class="nump">$ 175,568<span></span>
</td>
<td class="nump">$ 29,905,734<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_InventoryDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_InventoryDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_InventoryFinishedGoods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryFinishedGoods</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51655945&amp;loc=d3e3927-108312<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_InventoryRawMaterials">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryRawMaterials</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_InventoryWorkInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryWorkInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=28360613&amp;loc=d3e4542-108314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryWriteDown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>82
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6826977744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Total</a></td>
<td class="nump">$ 544,326,125<span></span>
</td>
<td class="nump">$ 559,006,119<span></span>
</td>
<td class="text">&#160;<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_Depreciation', window );">Depreciation of property, plant and equipment</a></td>
<td class="nump">31,361,026<span></span>
</td>
<td class="nump">$ 28,007,943<span></span>
</td>
<td class="nump">$ 52,250,595<span></span>
</td>
</tr>
<tr class="ro">
<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">1,622,588<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 158,424,827<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember', window );">Buildings and plant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">313,290,516<span></span>
</td>
<td class="nump">$ 233,230,935<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember', window );">Machinery and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentGross', window );">Cost</a></td>
<td class="nump">389,373,554<span></span>
</td>
<td class="nump">351,409,724<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Furniture, fixtures and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">22,418,768<span></span>
</td>
<td class="nump">18,469,913<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember', window );">Motor vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentGross', window );">Cost</a></td>
<td class="nump">293,331<span></span>
</td>
<td class="nump">257,408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=dq_DepreciableAssetMember', window );">Depreciable Asset [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">(188,680,279)<span></span>
</td>
<td class="num">(169,264,463)<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentNet', window );">Total</a></td>
<td class="nump">536,695,889<span></span>
</td>
<td class="nump">434,103,517<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember', window );">Construction in process [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 7,630,236<span></span>
</td>
<td class="nump">$ 124,902,602<span></span>
</td>
<td class="text">&#160;<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_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=dq_DepreciableAssetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=dq_DepreciableAssetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6813034720">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>BORROWINGS (Schedule of Bank Borrowings) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>BORROWINGS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank borrowings</a></td>
<td class="nump">$ 72,360,730<span></span>
</td>
<td class="nump">$ 90,443,007<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">51,576,265<span></span>
</td>
<td class="nump">69,360,869<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_DebtCurrent', window );">Total borrowings, current</a></td>
<td class="nump">123,936,995<span></span>
</td>
<td class="nump">159,803,876<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 bank borrowings, non-current portion</a></td>
<td class="nump">118,548,430<span></span>
</td>
<td class="nump">77,336,160<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_DebtLongtermAndShorttermCombinedAmount', window );">Total</a></td>
<td class="nump">$ 242,485,425<span></span>
</td>
<td class="nump">$ 237,140,036<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<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_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 style="white-space:nowrap;">us-gaap_DebtLongtermAndShorttermCombinedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermBankLoansAndNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>84
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6813295776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>BORROWINGS (Short-Term Borrowings) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term credit bank borrowings</a></td>
<td class="nump">$ 72,360,730<span></span>
</td>
<td class="nump">$ 90,443,007<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">5.40%<span></span>
</td>
<td class="nump">6.80%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Bank Facilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity of credit line</a></td>
<td class="nump">$ 22,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember', window );">Debt Guaranteed by Daqo Group and Mr. Guangfu Xu and Mr. Xinag Xu [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 credit bank borrowings</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 27,389,890<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember', window );">Short Term Borrowing Guaranteed By Daqo Group And Related Parties [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#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_ShortTermBankLoansAndNotesPayable', window );">Short-term credit bank borrowings</a></td>
<td class="nump">$ 72,360,730<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember', window );">Short-term borrowing guaranteed by Daqo Group and a third party [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShortTermDebtLineItems', window );"><strong>Short-term Debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 credit bank borrowings</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 11,278,190<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=dq_ShortTermCreditBorrowingsMember', window );">Short-term Credit Borrowings [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#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_ShortTermBankLoansAndNotesPayable', window );">Short-term credit bank borrowings</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 51,774,927<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermBankLoansAndNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_ShortTermDebtLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtWeightedAverageInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ShortTermDebtTypeAxis=us-gaap_LineOfCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=dq_DebtGuaranteedByDaqoGroupAndMrGuangfuXuAndMrXinagXuMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=dq_ShortTermBorrowingGuaranteedByDaqoGroupAndRelatedPartiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=dq_DebtGuaranteedByDaqoGroupAndThirdPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=dq_ShortTermCreditBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=dq_ShortTermCreditBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812286992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BORROWINGS (Long-Term Borrowings) (Details)<br> &#165; in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CNY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>CNY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term bank borrowings</a></td>
<td class="nump">$ 170,124,695<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=dq_HuaxiaBankMember', window );">Huaxia Bank [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityInitiationDate1', window );">Initiation date of credit facility</a></td>
<td class="text">Sep. 28,  2011<span></span>
</td>
<td class="text">Sep. 28,  2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DebtInstrumentTerm', window );">Term of facility</a></td>
<td class="text">4 years<span></span>
</td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing amount of credit facility</a></td>
<td class="nump">$ 61,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod', window );">Amount drawn down</a></td>
<td class="nump">58,500,000<span></span>
</td>
<td class="nump">&#165; 380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">55,400,000<span></span>
</td>
<td class="nump">360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DebtInstrumentCollateralAmount', window );">Amount of collateral</a></td>
<td class="nump">8,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LineOfCreditFacilityRemainingBorrowingCapacity', window );">Amount available for future draw down</a></td>
<td class="nump">3,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=dq_HuaxiaBankMember', window );">Huaxia Bank [Member] | Facility One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod', window );">Amount drawn down</a></td>
<td class="nump">$ 20,000,000<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentInterestRateStatedPercentage', window );">Fixed interest rate</a></td>
<td class="nump">6.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.65%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=dq_HuaxiaBankMember', window );">Huaxia Bank [Member] | Facility Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod', window );">Amount drawn down</a></td>
<td class="nump">$ 38,500,000<span></span>
</td>
<td class="nump">&#165; 250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentInterestRateStatedPercentage', window );">Fixed interest rate</a></td>
<td class="nump">6.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=dq_BankOfChinaMember', window );">Bank of China [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityInitiationDate1', window );">Initiation date of credit facility</a></td>
<td class="text">Sep. 30,  2011<span></span>
</td>
<td class="text">Sep. 30,  2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">6 years<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing amount of credit facility</a></td>
<td class="nump">$ 115,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod', window );">Amount drawn down</a></td>
<td class="nump">$ 115,500,000<span></span>
</td>
<td class="nump">&#165; 750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 44,600,000<span></span>
</td>
<td class="nump">&#165; 290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DebtInstrumentInterestRateStatedPercentage', window );">Fixed interest rate</a></td>
<td class="nump">5.41%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.41%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 73,900,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=dq_ChongqingRuralCommercialBankMember', window );">Chongqing Rural Commercial Bank [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityInitiationDate1', window );">Initiation date of credit facility</a></td>
<td class="text">Jun. 25,  2015<span></span>
</td>
<td class="text">Jun. 25,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">6 years<span></span>
</td>
<td class="text">6 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing amount of credit facility</a></td>
<td class="nump">$ 96,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod', window );">Amount drawn down</a></td>
<td class="nump">$ 96,200,000<span></span>
</td>
<td class="nump">&#165; 625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentInterestRateStatedPercentage', window );">Fixed interest rate</a></td>
<td class="nump">5.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Bank Facilities [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LongtermDebtWeightedAverageInterestRate', window );">Weighted average interest rate</a></td>
<td class="nump">5.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.70%<span></span>
</td>
<td class="nump">6.90%<span></span>
</td>
<td class="text">&#160;<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_LongTermDebt', window );">Long-term bank borrowings</a></td>
<td class="nump">$ 170,124,695<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 146,697,029<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Bank Facilities [Member] | China Construction Bank [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LongTermDebt', window );">Long-term bank borrowings</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,444,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Bank Facilities [Member] | Huaxia Bank [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LongTermDebt', window );">Long-term bank borrowings</a></td>
<td class="nump">$ 3,079,180<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,778,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Bank Facilities [Member] | Bank of China [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LongTermDebt', window );">Long-term bank borrowings</a></td>
<td class="nump">70,821,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">101,503,710<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Bank Facilities [Member] | Chongqing Rural Commercial Bank [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LongTermDebt', window );">Long-term bank borrowings</a></td>
<td class="nump">$ 96,224,375<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,969,919<span></span>
</td>
<td class="text">&#160;<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_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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 style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DebtInstrumentCollateralAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCollateralAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityInitiationDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</tr>
</table></div>
</div></td></tr>
</table>
<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 style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_LongtermDebtWeightedAverageInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LineOfCreditFacilityAxis=dq_HuaxiaBankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=dq_HuaxiaBankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=dq_FacilityOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_CreditFacilityAxis=dq_FacilityOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=dq_FacilityTwoMember">
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<td><strong> Name:</strong></td>
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<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 style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=dq_BankOfChinaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=dq_ChongqingRuralCommercialBankMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<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 style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=dq_ChinaConstructionBankMember</td>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811152048">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>BORROWINGS (Schedule of Principal Maturities of Bank Borrowings) (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>BORROWINGS [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2016</a></td>
<td class="nump">$ 51,576,265<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 );">2017</a></td>
<td class="nump">53,885,650<span></span>
</td>
</tr>
<tr class="ro">
<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 );">2018</a></td>
<td class="nump">18,475,080<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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2019</a></td>
<td class="nump">18,475,080<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2020</a></td>
<td class="nump">18,475,080<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix', window );">2021</a></td>
<td class="nump">9,237,540<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_LongTermDebt', window );">Total</a></td>
<td class="nump">$ 170,124,695<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the sixth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</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 style="white-space:nowrap;">dq_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearSix</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</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><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<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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<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811019888">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract', window );"><strong>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued payroll and welfare</a></td>
<td class="nump">$ 3,524,876<span></span>
</td>
<td class="nump">$ 3,309,850<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">776,518<span></span>
</td>
<td class="nump">576,786<span></span>
</td>
</tr>
<tr class="ro">
<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 payables</a></td>
<td class="nump">2,298,780<span></span>
</td>
<td class="nump">2,263,055<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">$ 38,054<span></span>
</td>
<td class="nump">148,995<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingencyAccrualAtCarryingValue', window );">Contingent liability (Note 18)</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">400,000<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_OtherAccountsPayableAndAccruedLiabilities', window );">Others</a></td>
<td class="nump">$ 1,978,603<span></span>
</td>
<td class="nump">2,256,977<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" 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">$ 8,616,831<span></span>
</td>
<td class="nump">$ 8,955,663<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">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dq_AccruedExpensesAndOtherCurrentLiabilities</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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</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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<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 720<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6419918&amp;loc=d3e35281-107843<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrent</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>
<td>credit</td>
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<td>instant</td>
</tr>
</table></div>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedProfessionalFeesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>credit</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></tr>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeRelatedLiabilitiesCurrent</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrent</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></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>
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</tr>
</table></div>
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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 loss contingency liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyAccrualAtCarryingValue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 style="white-space:nowrap;">us-gaap_OtherAccountsPayableAndAccruedLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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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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</table></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812823312">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>ADVANCES FROM CUSTOMERS (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CustomerAdvancesAndDeposits', window );">Total</a></td>
<td class="nump">$ 8,183,376<span></span>
</td>
<td class="nump">$ 10,710,202<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 );">Less: Current portion of advances from customers</a></td>
<td class="nump">$ 8,183,376<span></span>
</td>
<td class="nump">7,308,535<span></span>
</td>
</tr>
<tr class="ro">
<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 advances from customers</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">3,401,667<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerSevenMember', window );">Customer E [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CustomerAdvancesAndDeposits', window );">Total</a></td>
<td class="nump">$ 3,237,308<span></span>
</td>
<td class="nump">8,041,836<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerEightMember', window );">Customer F [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CustomerAdvancesAndDeposits', window );">Total</a></td>
<td class="nump">1,517,402<span></span>
</td>
<td class="nump">$ 2,405,619<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerNineMember', window );">Customer I [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CustomerAdvancesAndDeposits', window );">Total</a></td>
<td class="nump">1,539,590<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerTenMember', window );">Customer L [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_CustomerAdvancesAndDeposits', window );">Total</a></td>
<td class="nump">781,342<span></span>
</td>
<td class="nump">$ 111<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_OtherCustomersMember', window );">Others [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DeferredRevenueArrangementLineItems', window );"><strong>Deferred Revenue Arrangement [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CustomerAdvancesAndDeposits', window );">Total</a></td>
<td class="nump">$ 1,107,734<span></span>
</td>
<td class="nump">$ 262,636<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_CustomerAdvancesAndDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CustomerAdvancesAndDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CustomerAdvancesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CustomerAdvancesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DeferredRevenueArrangementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_DeferredRevenueArrangementLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerSevenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerSevenMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</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_MajorCustomersAxis=dq_CustomerEightMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerEightMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerNineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerNineMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerTenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerTenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></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_MajorCustomersAxis=dq_OtherCustomersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_OtherCustomersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811657648">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Long-lived asset impairment</a></td>
<td class="nump">$ 1,622,588<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 158,424,827<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=dq_DaqoNewMaterialCoLtdMember', window );">Daqo New Material Co., Ltd. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="nump">$ 143,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember', window );">Fair Value, Measurements, Nonrecurring [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AssetImpairmentCharges', window );">Long-lived asset impairment</a></td>
<td class="nump">$ 1,622,588<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Nonrecurring [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Property, plant and equipment - identified untransferrable relocation assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Nonrecurring [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentFairValueDisclosure', window );">Property, plant and equipment - identified untransferrable relocation assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember', window );">Carrying Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Property, plant and equipment - identified untransferrable relocation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 308,000,000<span></span>
</td>
<td class="text">&#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_AssetsFairValueDisclosure', window );">Asset - identified untransferrable relocation assets</a></td>
<td class="nump">$ 1,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember', window );">Carrying Value [Member] | Fair Value, Measurements, Nonrecurring [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems', window );"><strong>Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Property, plant and equipment - identified untransferrable relocation assets</a></td>
<td class="nump">$ 1,622,588<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember', window );">Fair Value [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PropertyPlantAndEquipmentFairValueDisclosure', window );">Property, plant and equipment - identified untransferrable relocation assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150,000,000<span></span>
</td>
<td class="text">&#160;<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_AssetsFairValueDisclosure', window );">Asset - identified untransferrable relocation assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2420-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_AssetsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PropertyPlantAndEquipmentFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_dei_LegalEntityAxis=dq_DaqoNewMaterialCoLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dei_LegalEntityAxis=dq_DaqoNewMaterialCoLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></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_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6602992192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationAndRetirementDisclosureAbstract', window );"><strong>MAINLAND CHINA CONTRIBUTION PLAN AND PROFIT APPROPRIATION [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanCostRecognized', window );">Defined contribution plan expenses</a></td>
<td class="nump">$ 4,087,334<span></span>
</td>
<td class="nump">$ 3,130,308<span></span>
</td>
<td class="nump">$ 3,142,213<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_RetainedEarningsAppropriated', window );">Aggregate balance of statutory common reserves</a></td>
<td class="nump">17,720,748<span></span>
</td>
<td class="nump">$ 20,190,729<span></span>
</td>
<td class="nump">$ 16,803,191<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 213,794,097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_CompensationAndRetirementDisclosureAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</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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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanCostRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -SubTopic 70<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49170846&amp;loc=d3e28014-114942<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanCostRecognized</td>
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<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</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>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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityRestrictions</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAppropriated">
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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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.23(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6403732&amp;loc=d3e21346-112643<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(3)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6403732&amp;loc=d3e21332-112643<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 24<br> -Subparagraph a(4)<br> -Article 7<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAppropriated</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td>instant</td>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6812985632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Narrative) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Income tax paid</a></td>
<td class="nump">$ 2,726,825<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=dq_XinjiangDaqoNewEnergyCoLtdMember', window );">Xinjiang Daqo New Energy Co., Ltd. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ProceedsFromDividendsReceived', window );">Dividend distribution received</a></td>
<td class="nump">1,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_IncomeTaxesPaid', window );">Income tax paid</a></td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=dq_ChongqingDaqoNewEnergyCoLtdMember', window );">Chongqing Daqo New Energy Co., Ltd. [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OperatingLossCarryforwardsLineItems', window );"><strong>Operating Loss Carryforwards [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 90,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaid</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>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_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwardsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ProceedsFromDividendsReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dividends received on equity and other investments 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDividendsReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_dei_LegalEntityAxis=dq_XinjiangDaqoNewEnergyCoLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dei_LegalEntityAxis=dq_XinjiangDaqoNewEnergyCoLtdMember</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 style="white-space:nowrap;">dei_LegalEntityAxis=dq_ChongqingDaqoNewEnergyCoLtdMember</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<DOCUMENT>
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6796748592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Schedule of Income Tax Expenses) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Current Tax (Benefit) Expenses</a></td>
<td class="nump">$ 1,786,092<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (162,621)<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="num">(648,271)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,434,386<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_IncomeTaxExpenseBenefitIntraperiodTaxAllocation', window );">Total</a></td>
<td class="nump">$ 1,137,821<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,271,765<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">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>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_IncomeTaxDisclosureAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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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<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_IncomeTaxExpenseBenefitIntraperiodTaxAllocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=18498875&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefitIntraperiodTaxAllocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>duration</td>
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</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R68.htm
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6808681792">
<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 ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGrossAbstract', window );"><strong>Deferred tax assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net operating loss carried forward</a></td>
<td class="nump">$ 22,549,975<span></span>
</td>
<td class="nump">$ 27,349,606<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredTaxAssetsInventory', window );">Inventory write-down</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">26,141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts', window );">Bad debt provision</a></td>
<td class="nump">$ 163,120<span></span>
</td>
<td class="nump">478,367<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredTaxAssetsTaxCreditCarryforwards', window );">Government grants related to assets</a></td>
<td class="nump">166,922<span></span>
</td>
<td class="nump">498,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses', window );">Long-lived asset impairment &amp; depreciation</a></td>
<td class="nump">19,624,021<span></span>
</td>
<td class="nump">21,009,037<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredTaxAssetsOther', window );">Others</a></td>
<td class="nump">485,776<span></span>
</td>
<td class="nump">748,018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredTaxAssetsGross', window );">Sub-total</a></td>
<td class="nump">42,989,814<span></span>
</td>
<td class="nump">50,109,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredTaxAssetsValuationAllowance', window );">Valuation Allowance</a></td>
<td class="num">(42,362,849)<span></span>
</td>
<td class="num">$ (50,109,751)<span></span>
</td>
<td class="num">$ (56,633,867)<span></span>
</td>
<td class="num">$ (37,682,733)<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_DeferredTaxAssetsNet', window );">Total</a></td>
<td class="nump">$ 626,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredTaxAssetsNetClassificationAbstract', window );"><strong>Deferred tax assets are analyzed as:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DeferredTaxAssetsNetCurrent', window );">Current</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_DeferredTaxAssetsNetNoncurrent', window );">Non-current</a></td>
<td class="nump">$ 626,965<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Asset<br> -URI http://asc.fasb.org/extlink&amp;oid=6510090<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGrossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsInventory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetClassificationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DeferredTaxAssetsTaxCreditCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 a valuation allowances, of deferred tax assets attributable to deductible tax credit carryforwards including, but not limited to, research, foreign, general business, alternative minimum tax, and other deductible tax credit 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Carryforwards<br> -URI http://asc.fasb.org/extlink&amp;oid=6506874<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxCreditCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=51675352&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsImpairmentLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>94
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6808650016">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Schedule of Changes of Valuation Allowance) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Beginning balance</a></td>
<td class="nump">$ 50,109,751<span></span>
</td>
<td class="nump">$ 56,633,867<span></span>
</td>
<td class="nump">$ 37,682,733<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_ValuationAllowanceDeferredTaxAssetChangeInAmount', window );">Additions (Reversal)</a></td>
<td class="num">$ (5,708,268)<span></span>
</td>
<td class="num">$ (5,168,917)<span></span>
</td>
<td class="nump">56,697,096<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ValuationAllowanceDeferredTaxAssetAdjustmentForDeconsolidation', window );">Deconsolidation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(39,357,744)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_ValuationAllowanceDeferredTaxAssetForeignExchangeEffect', window );">Foreign exchange effect</a></td>
<td class="num">$ (2,038,634)<span></span>
</td>
<td class="num">$ (1,355,199)<span></span>
</td>
<td class="nump">1,611,782<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Ending balance</a></td>
<td class="nump">$ 42,362,849<span></span>
</td>
<td class="nump">$ 50,109,751<span></span>
</td>
<td class="nump">$ 56,633,867<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_ValuationAllowanceDeferredTaxAssetAdjustmentForDeconsolidation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the valuation allowance for a specified deferred tax asset, resulting from an adjustment for deconsolidation.</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 style="white-space:nowrap;">dq_ValuationAllowanceDeferredTaxAssetAdjustmentForDeconsolidation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ValuationAllowanceDeferredTaxAssetForeignExchangeEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the valuation allowance for a specified deferred tax asset resulting from the effect of foreign exchange rates.</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 style="white-space:nowrap;">dq_ValuationAllowanceDeferredTaxAssetForeignExchangeEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ValuationAllowanceDeferredTaxAssetChangeInAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the valuation allowance for a specified deferred tax asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6808695280">
<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, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</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_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract', window );"><strong>Effective income tax rate:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_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">(8.00%)<span></span>
</td>
<td class="num">(9.00%)<span></span>
</td>
<td class="num">(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_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate', window );">Effect of different reversal rate</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">3.00%<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">(12.00%)<span></span>
</td>
<td class="num">(8.00%)<span></span>
</td>
<td class="num">(1.00%)<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_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential', window );">Different tax rate in other jurisdictions</a></td>
<td class="nump">8.00%<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text"> <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_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Changes in valuation allowance</a></td>
<td class="num">(3.00%)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(26.00%)<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_EffectiveIncomeTaxRateReconciliationTaxCredits', window );">Tax credits</a></td>
<td class="num">(3.00%)<span></span>
</td>
<td class="num">(15.00%)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dq_EffectiveIncomeTaxRateReconciliationWithholdTax', window );">Withhold tax</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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="nump">7.00%<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1.00%)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_EffectiveIncomeTaxRateReconciliationWithholdTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 withhold tax.</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 style="white-space:nowrap;">dq_EffectiveIncomeTaxRateReconciliationWithholdTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dq_</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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationDeductions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_EffectiveIncomeTaxRateReconciliationTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 tax credits. Including, but not limited to, research credit, foreign tax credit, investment tax credit, and other tax credits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationTaxHolidays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</div>
</body>
</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R71.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6801695168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES (Schedule of Effect of Tax Holidays) (Details) - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</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_IncomeTaxDisclosureAbstract', window );"><strong>INCOME TAXES [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_IncomeTaxHolidayAggregateDollarAmount', window );">The aggregate dollar effect</a></td>
<td class="nump">$ 1.2<span></span>
</td>
<td class="nump">$ 3.0<span></span>
</td>
<td class="text"> <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_IncomeTaxHolidayIncomeTaxBenefitsPerShare', window );">Per share effect-basic and diluted</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text"> <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_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_IncomeTaxHolidayAggregateDollarAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 11.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330215-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 11<br> -Section C<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxHolidayAggregateDollarAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_IncomeTaxHolidayIncomeTaxBenefitsPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 share amount effect of the income tax benefit resulting from the income tax holidays granted by taxing jurisdictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 11.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330215-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 11<br> -Section C<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxHolidayIncomeTaxBenefitsPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</div>
</body>
</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R72.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6829275744">
<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="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 09, 2015</div></th>
<th class="th"><div>Jul. 06, 2015</div></th>
<th class="th"><div>Jan. 12, 2015</div></th>
<th class="th"><div>Jan. 28, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Ordinary shares authorized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,134,375<span></span>
</td>
<td class="nump">6,274,166<span></span>
</td>
<td class="nump">140,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of stock options granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.59<span></span>
</td>
<td class="nump">$ 0.98<span></span>
</td>
<td class="nump">$ 0.11<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_AllocatedShareBasedCompensationExpense', window );">Share-based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,687,951<span></span>
</td>
<td class="nump">$ 1,792,819<span></span>
</td>
<td class="nump">$ 1,881,401<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,279,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Unrecognized compensation cost, recognition period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years 8 months 12 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Independent Directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Vesting period for plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Independent Directors [Member] | Share-based Compensation Award, Tranche One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Independent Directors [Member] | Share-based Compensation Award, Tranche Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Independent Directors [Member] | Share-based Compensation Award, Tranche Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
<td class="nump">12,569,166<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,534,375<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Vesting period for plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
<td class="nump">$ 0.59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 282,581<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 241,557<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AllocatedShareBasedCompensationExpense', window );">Share-based compensation</a></td>
<td class="nump">123,322<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,107<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="nump">$ 159,259<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 181,470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Unrecognized compensation cost, recognition period</a></td>
<td class="text">2 years 10 months 6 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years 10 months 28 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Batch one [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of stock options granted</a></td>
<td class="nump">$ 0.38<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Batch two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of stock options granted</a></td>
<td class="nump">0.35<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.52<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Batch three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of stock options granted</a></td>
<td class="nump">0.38<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Batch four [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of stock options granted</a></td>
<td class="nump">0.37<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Batch five [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of stock options granted</a></td>
<td class="nump">$ 0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Share-based Compensation Award, Tranche One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Share-based Compensation Award, Tranche Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Relevant Employees and Executive Officers [Member] | Share-based Compensation Award, Tranche Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Executive officers [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Vesting period for plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice', window );">Exercise price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.84<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Executive officers [Member] | Share-based Compensation Award, Tranche One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Executive officers [Member] | Share-based Compensation Award, Tranche Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Executive officers [Member] | Share-based Compensation Award, Tranche Three [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<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 style="white-space:nowrap;">dq_VestingInstallmentsDuringVestingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section F<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 excess of the fair value of the modified award over the fair value of the award immediately before the modification.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TitleOfIndividualAxis=dq_IndependentDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_TitleOfIndividualAxis=dq_IndependentDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TitleOfIndividualAxis=dq_RelevantEmployeesAndExecutiveOfficersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_TitleOfIndividualAxis=dq_RelevantEmployeesAndExecutiveOfficersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_NumberOfBatchesAxis=dq_BatchOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dq_NumberOfBatchesAxis=dq_BatchOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_NumberOfBatchesAxis=dq_BatchTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dq_NumberOfBatchesAxis=dq_BatchTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_NumberOfBatchesAxis=dq_BatchThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dq_NumberOfBatchesAxis=dq_BatchThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_NumberOfBatchesAxis=dq_BatchFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dq_NumberOfBatchesAxis=dq_BatchFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<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 style="white-space:nowrap;">dq_NumberOfBatchesAxis=dq_BatchFiveMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TitleOfIndividualAxis=us-gaap_ExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_TitleOfIndividualAxis=us-gaap_ExecutiveOfficerMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>98
<FILENAME>R73.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6814176832">
<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="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">April 3, 2013 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Average risk-free rate of return</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.29%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.8<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51.78%<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">January 28, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Average risk-free rate of return</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.77%<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">93.00%<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Dividend yield</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">January 28, 2014 [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="nump">3.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">January 28, 2014 [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="nump">3.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="nump">9.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">January 12, 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Average risk-free rate of return</a></td>
<td class="nump">2.82%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
<td class="nump">93.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">January 12, 2015 [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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="nump">1.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">January 12, 2015 [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">July 06, 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Average risk-free rate of return</a></td>
<td class="nump">3.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
<td class="nump">91.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">September 09, 2015 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">September 09, 2015 [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Average risk-free rate of return</a></td>
<td class="nump">2.94%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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="nump">1.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
<td class="nump">91.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">September 09, 2015 [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Average risk-free rate of return</a></td>
<td class="nump">3.08%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility rate</a></td>
<td class="nump">92.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" 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="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dq_BinomialOptionPricingModelExerciseMultiple">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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, 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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dq_BinomialOptionPricingModelExerciseMultiple</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dq_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</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_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;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dq_BinomialOptionPricingModelPostVestingForfeitureRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dq_</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iv)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardDateAxis=dq_AwardDateGrantedFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_AwardDateAxis=dq_AwardDateGrantedFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardDateAxis=dq_AwardDateGrantedOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_AwardDateAxis=dq_AwardDateGrantedOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardDateAxis=dq_AwardDateGrantedTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_AwardDateAxis=dq_AwardDateGrantedTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardDateAxis=dq_AwardDateGrantedThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_AwardDateAxis=dq_AwardDateGrantedThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardDateAxis=dq_AwardDateGrantedFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_AwardDateAxis=dq_AwardDateGrantedFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>99
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6828630592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>SHARE BASED COMPENSATION (Summary of Stock Option Activity) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Number of Options</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options outstanding</a></td>
<td class="nump">12,375,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
<td class="nump">8,134,375<span></span>
</td>
<td class="nump">6,274,166<span></span>
</td>
<td class="nump">140,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Forfeited</a></td>
<td class="num">(1,307,743)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod', window );">Expired</a></td>
<td class="num">(557,882)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised</a></td>
<td class="num">(1,115,625)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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</a></td>
<td class="nump">17,528,541<span></span>
</td>
<td class="nump">12,375,416<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber', window );">Options vested or expected to vest</a></td>
<td class="nump">12,978,233<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Options exercisable</a></td>
<td class="nump">9,965,138<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted Average Exercise Price</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 0.87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted</a></td>
<td class="nump">0.59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Forfeited</a></td>
<td class="nump">0.56<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice', window );">Expired</a></td>
<td class="nump">0.59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised</a></td>
<td class="nump">0.25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options outstanding</a></td>
<td class="nump">0.50<span></span>
</td>
<td class="nump">$ 0.87<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice', window );">Options vested or expected to vest</a></td>
<td class="nump">0.40<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options exercisable</a></td>
<td class="nump">$ 0.42<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract', window );"><strong>Weighted Average Remaining Contract Life</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Options outstanding</a></td>
<td class="text">7 years 5 months 23 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1', window );">Options vested or expected to vest</a></td>
<td class="text">6 years 1 month 13 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Options exercisable</a></td>
<td class="text">6 years 4 months 17 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract', window );"><strong>Aggregate Intrinsic Value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Options outstanding</a></td>
<td class="nump">$ 2,973,866<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue', window );">Options vested or expected to vest</a></td>
<td class="nump">3,499,985<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Options exercisable</a></td>
<td class="nump">$ 2,434,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<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 );">- References</a><div><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 style="white-space:nowrap;">dq_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAggregateIntrinsicValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a 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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6832133184">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Sep. 28, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromRelatedParties', window );">Sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 11,894,944<span></span>
</td>
<td class="nump">$ 19,150,112<span></span>
</td>
<td class="nump">$ 13,471,866<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueFromRelatedPartiesCurrent', window );">Amounts due from related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">284,633<span></span>
</td>
<td class="nump">9,986,968<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46,396,527<span></span>
</td>
<td class="nump">89,698,151<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_IncreaseDecreaseInDueFromRelatedPartiesCurrent', window );">Change in amount due from related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,481,362)<span></span>
</td>
<td class="num">$ (2,193,604)<span></span>
</td>
<td class="nump">$ 6,853,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=dq_DispositionOfSubsidiaryMember', window );">Disposition of Subsidiary [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,458<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=dq_PurchasesOfFixedAssetsMember', window );">Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,863,858<span></span>
</td>
<td class="nump">$ 7,201,424<span></span>
</td>
<td class="nump">$ 157,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=dq_PurchasesOfRawMaterialsMember', window );">Purchases of Raw Materials [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">32,755<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=dq_RentalExpensesMember', window );">Rental Expenses [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty', window );">Expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,050,661<span></span>
</td>
<td class="nump">$ 1,071,287<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=dq_CashProceedsFromTransactionsMember', window );">Cash Proceeds from Transactions [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">245,957,818<span></span>
</td>
<td class="nump">275,134,122<span></span>
</td>
<td class="nump">$ 136,084,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=dq_CashPaymentsForTransactionsMember', window );">Cash Payments for Transactions [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 276,575,346<span></span>
</td>
<td class="nump">275,088,560<span></span>
</td>
<td class="nump">69,386,568<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember', window );">Daqo Group [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due from related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">5,110,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueToRelatedPartiesCurrent', window );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 33,758<span></span>
</td>
<td class="nump">1,339,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember', window );">Daqo Group [Member] | Proceeds From Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15,043,550<span></span>
</td>
<td class="nump">10,821,462<span></span>
</td>
<td class="nump">813,105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember', window );">Daqo Group [Member] | Repayment of Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 20,217,257<span></span>
</td>
<td class="nump">8,115,813<span></span>
</td>
<td class="nump">$ 813,105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember', window );">Daqo Group [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">486,948<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ZhengjiangDaqoSolarCoLtdMember', window );">Zhengjiang Daqo Solar Co. Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RevenueFromRelatedParties', window );">Sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 11,111,239<span></span>
</td>
<td class="nump">9,554,320<span></span>
</td>
<td class="nump">$ 13,471,866<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueFromRelatedPartiesCurrent', window );">Amounts due from related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 229,989<span></span>
</td>
<td class="nump">4,551,846<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ZhengjiangDaqoSolarCoLtdMember', window );">Zhengjiang Daqo Solar Co. Ltd [Member] | Daqo Group [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoSolarCoLtdMember', window );">Daqo Solar Co Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RevenueFromRelatedParties', window );">Sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783,705<span></span>
</td>
<td class="nump">9,595,680<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueToRelatedPartiesCurrent', window );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 37,390,575<span></span>
</td>
<td class="nump">54,275,617<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoSolarCoLtdMember', window );">Daqo Solar Co Ltd [Member] | Daqo Group [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoSolarCoLtdMember', window );">Daqo Solar Co Ltd [Member] | Proceeds From Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 127,060,826<span></span>
</td>
<td class="nump">157,241,390<span></span>
</td>
<td class="nump">$ 76,881,392<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoSolarCoLtdMember', window );">Daqo Solar Co Ltd [Member] | Repayment of Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">151,990,672<span></span>
</td>
<td class="nump">166,231,092<span></span>
</td>
<td class="nump">28,379,678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoXinjiangInvestmentCoLtdMember', window );">Daqo Xinjiang Investment Co., Ltd. [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueToRelatedPartiesCurrent', window );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 3,146,054<span></span>
</td>
<td class="nump">23,104,709<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoXinjiangInvestmentCoLtdMember', window );">Daqo Xinjiang Investment Co., Ltd. [Member] | Daqo Group [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoXinjiangInvestmentCoLtdMember', window );">Daqo Xinjiang Investment Co., Ltd. [Member] | Proceeds From Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 72,946,700<span></span>
</td>
<td class="nump">98,367,234<span></span>
</td>
<td class="nump">58,389,643<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoXinjiangInvestmentCoLtdMember', window );">Daqo Xinjiang Investment Co., Ltd. [Member] | Repayment of Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">73,252,506<span></span>
</td>
<td class="nump">93,219,846<span></span>
</td>
<td class="nump">$ 40,193,785<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoNewMaterialMember', window );">Daqo New Material [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueToRelatedPartiesCurrent', window );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,563,165<span></span>
</td>
<td class="nump">4,950,746<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoNewMaterialMember', window );">Daqo New Material [Member] | Daqo Group [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoNewMaterialMember', window );">Daqo New Material [Member] | Proceeds From Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 11,082,241<span></span>
</td>
<td class="nump">7,729,501<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoNewMaterialMember', window );">Daqo New Material [Member] | Repayment of Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,285,114<span></span>
</td>
<td class="nump">4,600,117<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoNewMaterialMember', window );">Daqo New Material [Member] | Rental Expenses [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,050,661<span></span>
</td>
<td class="nump">1,071,287<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember', window );">Chongqing Daqo Tailai [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 144,102<span></span>
</td>
<td class="nump">$ 1,755,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember', window );">Chongqing Daqo Tailai [Member] | Proceeds From Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,367,640<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember', window );">Chongqing Daqo Tailai [Member] | Repayment of Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,367,640<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember', window );">Chongqing Daqo Tailai [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">375,528<span></span>
</td>
<td class="nump">$ 2,724,790<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember', window );">Chongqing Daqo Tailai [Member] | Purchases of Raw Materials [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,938<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember', window );">Chongqing Daqo Tailai [Member] | Income (Loss) from Disposal of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 6,458<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoTransformerMember', window );">Daqo Transformer [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1,595,659<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoTransformerMember', window );">Daqo Transformer [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 448,184<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_JiangsuDaqoMember', window );">Jiangsu Daqo [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">1,200,018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_JiangsuDaqoMember', window );">Jiangsu Daqo [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 11,423<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingDaqoElectricMember', window );">Nanjing Daqo Electric [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">742,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingDaqoElectricMember', window );">Nanjing Daqo Electric [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 93,795<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember', window );">Zhenjiang Klockner-Moeller Electrical Systems Co., Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 107,771<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ZhenjiangKlocknerMoellerElectricalSystemsCoLtdMember', window );">Zhenjiang Klockner-Moeller Electrical Systems Co., Ltd [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 2,005,617<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingDaqoMember', window );">Nanjing Daqo [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">112<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingDaqoMember', window );">Nanjing Daqo [Member] | Daqo Group [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingDaqoMember', window );">Nanjing Daqo [Member] | Proceeds From Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 13,456,861<span></span>
</td>
<td class="nump">973,898<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingDaqoMember', window );">Nanjing Daqo [Member] | Repayment of Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,456,861<span></span>
</td>
<td class="nump">2,921,693<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_OtherSubsidiariesOfDaqoGroupMember', window );">Other Subsidiaries of Daqo Group [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due from related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">54,644<span></span>
</td>
<td class="nump">325,037<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueToRelatedPartiesCurrent', window );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 118,873<span></span>
</td>
<td class="nump">734,201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_OtherSubsidiariesOfDaqoGroupMember', window );">Other Subsidiaries of Daqo Group [Member] | Proceeds From Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 636<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_OtherSubsidiariesOfDaqoGroupMember', window );">Other Subsidiaries of Daqo Group [Member] | Repayment of Interest Free Loans [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionAmountsOfTransaction', window );">Other transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 5,296<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_OtherSubsidiariesOfDaqoGroupMember', window );">Other Subsidiaries of Daqo Group [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">3,488,330<span></span>
</td>
<td class="nump">$ 3,989,686<span></span>
</td>
<td class="nump">$ 157,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_OtherSubsidiariesOfDaqoGroupMember', window );">Other Subsidiaries of Daqo Group [Member] | Purchases of Raw Materials [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 22,817<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingIntelligentApparatusCoLtdMember', window );">Nanjing Intelligent Apparatus Co., Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingIntelligentApparatusCoLtdMember', window );">Nanjing Intelligent Apparatus Co., Ltd [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 445,547<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_NanjingIntelligentSoftwareCoLtdMember', window );">Nanjing Intelligent Software Co., Ltd. [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoInvestmentCoLtdMember', window );">Daqo Investment Co., Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ShanghaiSailfarElectricTechnologyCoLtdMember', window );">Shanghai Sailfar Electric Technology Co., Ltd. [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionDueFromToRelatedPartyAbstract', window );"><strong>Related party balances:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Amounts due to related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 11,102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember', window );">Jiangsu Daquan High Voltage Switchgear Co Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember', window );">Jiangsu Daquan High Voltage Switchgear Co Ltd [Member] | Purchases of Fixed Assets [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Purchases</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 483,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_JiangsuDaqoKaifanElectricCoLtdMember', window );">Jiangsu Daqo Kai-fan Electric Co Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ZhenjiangElectricEquipmentCoLtdMember', window );">Zhenjiang Electric Equipment Co Ltd [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_MinorityInterestOwnershipPercentageByParent', window );">Equity interest held</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The remaining balance of amounts due to related parties of $118,873 as of December 31, 2015 was comprised of Zhenjiang Moeller and Daqo Sailfar in the amount of $107,771 and $11,102, respectively.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">The purchase of fixed assets of $3,488,330 was comprised of Nanjing Daqo Electric, Nanjing Daqo Transformer, Zhenjiang Moeller, Jiangsu Daqo, Jiangsu Daqo High Voltage Switchgear, Intelligent Apparatus in the amount of $93,795, $448,184, $2,005,617, $11,423, $483,764, $445,547 respectively.</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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph k<br> -Subparagraph 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" 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>
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<td>credit</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></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>
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<td><strong> Data Type:</strong></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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br></p></div>
<a href="javascript:void(0);" 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 style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Related Parties<br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_RelatedPartyTransactionAxis=dq_DispositionOfSubsidiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_DispositionOfSubsidiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=dq_PurchasesOfFixedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_PurchasesOfFixedAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=dq_PurchasesOfRawMaterialsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_PurchasesOfRawMaterialsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=dq_RentalExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_RentalExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=dq_CashProceedsFromTransactionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_CashProceedsFromTransactionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=dq_CashPaymentsForTransactionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_CashPaymentsForTransactionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=dq_ProceedsFromFinancingTransactionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_ProceedsFromFinancingTransactionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=dq_PaymentsForFinancingTransactionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=dq_PaymentsForFinancingTransactionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ZhengjiangDaqoSolarCoLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ZhengjiangDaqoSolarCoLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=dq_DaqoGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dei_LegalEntityAxis=dq_DaqoGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoSolarCoLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoSolarCoLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoXinjiangInvestmentCoLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoXinjiangInvestmentCoLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoNewMaterialMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_DaqoNewMaterialMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ChongqingDaqoTailaiMember</td>
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<td>na</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ShanghaiSailfarElectricTechnologyCoLtdMember">
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<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_ShanghaiSailfarElectricTechnologyCoLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_JiangsuDaquanHighVoltageSwitchgearCoLtdMember</td>
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<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=dq_JiangsuDaqoKaifanElectricCoLtdMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>101
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811166080">
<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, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</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_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract', window );"><strong>Numerator used in basic and diluted earnings per share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-basic</a></td>
<td class="nump">$ 12,956,889<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (70,943,484)<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_NetIncomeLossAvailableToCommonStockholdersDiluted', window );">Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders-diluted</a></td>
<td class="nump">$ 12,956,889<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (70,943,484)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average number of ordinary shares outstanding used in computing earnings per share-basic</a></td>
<td class="nump">258,015,851<span></span>
</td>
<td class="nump">206,349,976<span></span>
</td>
<td class="nump">173,068,420<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Plus: share options</a></td>
<td class="nump">3,396,082<span></span>
</td>
<td class="nump">5,003,667<span></span>
</td>
<td class="text"> <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_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average number of ordinary shares outstanding used in computing earnings per share - diluted</a></td>
<td class="nump">261,411,933<span></span>
</td>
<td class="nump">211,353,643<span></span>
</td>
<td class="nump">173,068,420<span></span>
</td>
</tr>
<tr class="ro">
<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 );">NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE-Basic</a></td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.41)<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_EarningsPerShareDiluted', window );">NET (LOSS) INCOME ATTRIBUTABLE TO DAQO NEW ENERGY CORP. PER ORDINARY SHARE-Diluted</a></td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.41)<span></span>
</td>
</tr>
<tr class="ro">
<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">12,563,541<span></span>
</td>
<td class="nump">6,154,166<span></span>
</td>
<td class="nump">6,371,250<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_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Antidilution<br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Diluted Earnings Per Share<br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Stock Agreement<br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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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 (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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<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><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28A<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_NetIncomeLossAvailableToCommonStockholdersBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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</div></td></tr>
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<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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 [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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6829379248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsAbstract', window );"><strong>Capital commitments:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted', window );">Commitments outstanding for the purchase of property, plant and equipment</a></td>
<td class="nump">$ 15,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LeasesOperatingAbstract', window );"><strong>Lease commitments:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OperatingLeasesRentExpenseNet', window );">Lease expense</a></td>
<td class="nump">1,050,661<span></span>
</td>
<td class="nump">$ 1,071,287<span></span>
</td>
<td class="nump">$ 164,811<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_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2016 (Note 19)</a></td>
<td class="nump">1,050,661<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_OperatingLeasesFutureMinimumPaymentsDue', window );">Total</a></td>
<td class="nump">$ 1,050,661<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LossContingencyInformationAboutLitigationMattersAbstract', window );"><strong>Legal Matter</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LossContingencyDamagesSoughtValue', window );">Damages claimed for breach of contract</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">800,000<span></span>
</td>
<td class="text">&#160;<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_LossContingencyEstimateOfPossibleLoss', window );">Best estimate of loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">400,000<span></span>
</td>
<td class="text">&#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_LossContingencyAccrualCarryingValueCurrent', window );">Contingent liability accrued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000<span></span>
</td>
<td class="text">&#160;<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_LitigationReserve', window );">Litigation</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_LeasesOperatingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_LeasesOperatingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LitigationReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the estimated litigation liability for known or estimated probable loss from litigation, which may include attorneys' fees and other litigation 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LitigationReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LossContingencyAccrualCarryingValueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 loss contingency liability expected to be resolved 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyAccrualCarryingValueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LossContingencyDamagesSoughtValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 value (monetary amount) of the award the plaintiff seeks in the legal matter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14557-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyDamagesSoughtValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_LossContingencyEstimateOfPossibleLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 estimated amount of loss from the specified contingency 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14557-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingencyEstimateOfPossibleLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingencyInformationAboutLitigationMattersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_LossContingencyInformationAboutLitigationMattersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OperatingLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OperatingLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OperatingLeasesRentExpenseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><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;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesRentExpenseNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_OtherCommitmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_OtherCommitmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</tr>
</table></div>
</div></td></tr>
</table>
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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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a)(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PurchaseCommitmentRemainingMinimumAmountCommitted</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811334928">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>VARIABLE INTEREST ENTITY (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Apr. 14, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 182,040,968<span></span>
</td>
<td class="nump">$ 182,571,852<span></span>
</td>
<td class="nump">$ 108,999,805<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="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,956,889<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (70,943,484)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember', window );">Variable Interest Entity Primary Beneficiary [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_Revenues', window );">Revenues</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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_OperatingCostsAndExpenses', window );">Operating costs and expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 150,147,024<span></span>
</td>
</tr>
<tr class="ro">
<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="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <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_LesseeLeasingArrangementsOperatingLeasesTermOfContract', window );">Lease term</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</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>
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<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">
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<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 style="white-space:nowrap;">us-gaap_LesseeLeasingArrangementsOperatingLeasesTermOfContract</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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></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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<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">
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6814933024">
<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, 2015</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2014</div></th>
<th class="th" colspan="2"><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_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_Revenues', window );">Revenue</a></td>
<td class="nump">$ 182,040,968<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 182,571,852<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 108,999,805<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 );">Total Cost of revenue</a></td>
<td class="nump">144,491,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">139,308,511<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">135,103,408<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 (loss) profit</a></td>
<td class="nump">37,549,885<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">43,263,341<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(26,103,603)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=dq_PolysiliconMember', window );">Polysilicon [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">125,916,457<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">127,692,325<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">76,721,105<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=dq_WaferMember', window );">Wafer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_Revenues', window );">Revenue</a></td>
<td class="nump">56,124,511<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">54,879,527<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">32,278,700<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember', window );">Operating Segments [Member] | Polysilicon [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">149,401,821<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">157,117,208<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">89,916,943<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 );">Total Cost of revenue</a></td>
<td class="nump">121,193,840<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">119,703,550<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">98,684,325<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 (loss) profit</a></td>
<td class="nump">28,207,981<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">37,413,658<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(8,767,382)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember', window );">Operating Segments [Member] | Wafer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_Revenues', window );">Revenue</a></td>
<td class="nump">56,124,511<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">54,879,527<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">32,278,700<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 );">Total Cost of revenue</a></td>
<td class="nump">46,763,308<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">47,861,811<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">49,614,921<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 (loss) profit</a></td>
<td class="nump">9,361,203<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">7,017,716<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(17,336,221)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationItemsAxis=us-gaap_IntersegmentEliminationMember', window );">Elimination [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">(23,485,364)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(29,424,883)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(13,195,838)<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 );">Total Cost of revenue</a></td>
<td class="num">(23,466,065)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(28,256,850)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (13,195,838)<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 (loss) profit</a></td>
<td class="num">(19,299)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,168,033)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationItemsAxis=us-gaap_IntersegmentEliminationMember', window );">Elimination [Member] | Polysilicon [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_Revenues', window );">Revenue</a></td>
<td class="num">$ (23,485,364)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (29,424,883)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">$ (13,195,838)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationItemsAxis=us-gaap_IntersegmentEliminationMember', window );">Elimination [Member] | Wafer [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerSixMember', window );">Customer B [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_Revenues', window );">Revenue</a></td>
<td class="nump">$ 18,125,773<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 23,882,302<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 19,644,488<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerOneMember', window );">Customer C [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">$ 19,595,911<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 18,210,196<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <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"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerElevenMember', window );">Customer D [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_Revenues', window );">Revenue</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 13,471,873<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerTwoMember', window );">Customer J [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">$ 35,094,472<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <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"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MajorCustomersAxis=dq_CustomerTwelveMember', window );">Customer K [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#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_Revenues', window );">Revenue</a></td>
<td class="nump">$ 20,465,558<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <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; width: 12pt;" 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">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfRevenue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</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_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_SegmentReportingInformationLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=dq_PolysiliconMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=dq_PolysiliconMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></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_StatementBusinessSegmentsAxis=dq_WaferMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=dq_WaferMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</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_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_ConsolidationItemsAxis=us-gaap_OperatingSegmentsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></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_ConsolidationItemsAxis=us-gaap_IntersegmentEliminationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<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 style="white-space:nowrap;">us-gaap_ConsolidationItemsAxis=us-gaap_IntersegmentEliminationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</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_MajorCustomersAxis=dq_CustomerSixMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerSixMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerOneMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</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>
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<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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerElevenMember</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerTwoMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MajorCustomersAxis=dq_CustomerTwelveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_MajorCustomersAxis=dq_CustomerTwelveMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6829376992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (BALANCE SHEET) (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Dec. 31, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 14,490,011<span></span>
</td>
<td class="nump">$ 7,068,483<span></span>
</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_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">12,235,141<span></span>
</td>
<td class="nump">12,835,869<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DueFromRelatedPartiesCurrent', window );">Amount due from a related party</a></td>
<td class="nump">284,633<span></span>
</td>
<td class="nump">9,986,968<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">88,776,027<span></span>
</td>
<td class="nump">121,949,234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">660,851,404<span></span>
</td>
<td class="nump">710,131,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">8,616,831<span></span>
</td>
<td class="nump">8,955,663<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 a related party</a></td>
<td class="nump">46,396,527<span></span>
</td>
<td class="nump">$ 89,698,151<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_TaxesPayableCurrent', window );">Income tax payable</a></td>
<td class="nump">940,732<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">275,393,602<span></span>
</td>
<td class="nump">$ 396,067,715<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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, 2014 and 2015; 240,714,103 and 279,214,103 shares issued as of December 31, 2014 and 2015, respectively and 223,577,853 and 260,836,578 shares outstanding as of December 31, 2014 and 2015, respectively)</a></td>
<td class="nump">26,320<span></span>
</td>
<td class="nump">22,358<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
<td class="nump">236,358,070<span></span>
</td>
<td class="nump">203,125,494<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 accumulated losses</a></td>
<td class="num">(3,061,404)<span></span>
</td>
<td class="num">(16,018,293)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
<td class="nump">8,780,313<span></span>
</td>
<td class="nump">20,037,183<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">(1,748,836)<span></span>
</td>
<td class="num">(398,672)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 shareholders' equity</a></td>
<td class="nump">240,354,463<span></span>
</td>
<td class="nump">206,768,070<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND EQUITY</a></td>
<td class="nump">$ 660,851,404<span></span>
</td>
<td class="nump">$ 710,131,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract', window );"><strong>Ordinary shares:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#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_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">&#160;<span></span>
</td>
<td class="text">&#160;<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">279,214,103<span></span>
</td>
<td class="nump">225,864,103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CommonStockSharesOutstanding', window );">Ordinary shares, shares outstanding</a></td>
<td class="nump">260,836,578<span></span>
</td>
<td class="nump">223,577,853<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 2,563,083<span></span>
</td>
<td class="nump">$ 4,493,150<span></span>
</td>
<td class="nump">$ 5,187,046<span></span>
</td>
<td class="nump">$ 5,669,834<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 193,583<span></span>
</td>
<td class="nump">204,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 a related party</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">5,110,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ 2,756,666<span></span>
</td>
<td class="nump">9,807,917<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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</a></td>
<td class="nump">238,112,877<span></span>
</td>
<td class="nump">197,571,399<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">240,869,543<span></span>
</td>
<td class="nump">207,379,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">$ 406,088<span></span>
</td>
<td class="nump">324,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 a related party</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 286,526<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_TaxesPayableCurrent', window );">Income tax payable</a></td>
<td class="nump">$ 108,992<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">515,080<span></span>
</td>
<td class="nump">$ 611,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_EquityAbstract', window );"><strong>EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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, 2014 and 2015; 240,714,103 and 279,214,103 shares issued as of December 31, 2014 and 2015, respectively and 223,577,853 and 260,836,578 shares outstanding as of December 31, 2014 and 2015, respectively)</a></td>
<td class="nump">26,320<span></span>
</td>
<td class="nump">22,358<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital</a></td>
<td class="nump">236,358,070<span></span>
</td>
<td class="nump">203,125,494<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 accumulated losses</a></td>
<td class="num">(3,061,404)<span></span>
</td>
<td class="num">(16,018,293)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
<td class="nump">8,780,313<span></span>
</td>
<td class="nump">20,037,183<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">(1,748,836)<span></span>
</td>
<td class="num">(398,672)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 shareholders' equity</a></td>
<td class="nump">240,354,463<span></span>
</td>
<td class="nump">206,768,070<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND EQUITY</a></td>
<td class="nump">$ 240,869,543<span></span>
</td>
<td class="nump">$ 207,379,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract', window );"><strong>Ordinary shares:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#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_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">&#160;<span></span>
</td>
<td class="text">&#160;<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">279,214,103<span></span>
</td>
<td class="nump">240,714,103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CommonStockSharesOutstanding', window );">Ordinary shares, shares outstanding</a></td>
<td class="nump">260,836,578<span></span>
</td>
<td class="nump">223,577,853<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 style="white-space:nowrap;">dq_AccruedExpensesAndOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_CommonStockNumberOfSharesParValueAndOtherDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValueOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph k<br> -Subparagraph 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_TaxesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_TreasuryStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_dei_LegalEntityAxis=us-gaap_ParentCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dei_LegalEntityAxis=us-gaap_ParentCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6811227264">
<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 ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>OPERATING EXPENSES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development</a></td>
<td class="num">$ (923,664)<span></span>
</td>
<td class="num">$ (1,486,978)<span></span>
</td>
<td class="num">$ (3,391,012)<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">(11,325,195)<span></span>
</td>
<td class="num">(11,228,385)<span></span>
</td>
<td class="num">(174,527,577)<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_OperatingIncomeLoss', window );">(Loss) income from operations</a></td>
<td class="nump">26,224,690<span></span>
</td>
<td class="nump">32,034,956<span></span>
</td>
<td class="num">(200,631,180)<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">493,995<span></span>
</td>
<td class="nump">324,118<span></span>
</td>
<td class="nump">149,752<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">640,678<span></span>
</td>
<td class="num">$ (55,792)<span></span>
</td>
<td class="nump">11,875<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_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="num">(1,137,821)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,271,765)<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 (loss) income attributable to Daqo New Energy Corp. ordinary shareholders</a></td>
<td class="nump">12,956,889<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">(70,943,484)<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 (loss) income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 (loss) income attributable to Daqo New Energy Corp. shareholders</a></td>
<td class="nump">1,700,019<span></span>
</td>
<td class="nump">12,987,163<span></span>
</td>
<td class="num">(66,795,294)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OperatingExpensesAbstract', window );"><strong>OPERATING EXPENSES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">$ (4,142,634)<span></span>
</td>
<td class="num">(2,738,085)<span></span>
</td>
<td class="num">(2,979,454)<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(12,310)<span></span>
</td>
<td class="num">(76,646)<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">$ (4,142,634)<span></span>
</td>
<td class="num">(2,750,395)<span></span>
</td>
<td class="num">(3,056,100)<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 );">(Loss) income from operations</a></td>
<td class="num">(4,142,634)<span></span>
</td>
<td class="num">(2,750,395)<span></span>
</td>
<td class="num">(3,056,100)<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">1,641<span></span>
</td>
<td class="nump">$ 8,144<span></span>
</td>
<td class="nump">$ 3,130<span></span>
</td>
</tr>
<tr class="ro">
<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</a></td>
<td class="nump">118,679<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="num">(108,992)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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">(4,131,306)<span></span>
</td>
<td class="num">$ (2,742,251)<span></span>
</td>
<td class="num">$ (3,052,970)<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 (losses) earnings of subsidiaries</a></td>
<td class="nump">17,088,195<span></span>
</td>
<td class="nump">19,391,427<span></span>
</td>
<td class="num">(67,890,514)<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 (loss) income attributable to Daqo New Energy Corp. ordinary shareholders</a></td>
<td class="nump">12,956,889<span></span>
</td>
<td class="nump">16,649,176<span></span>
</td>
<td class="num">(70,943,484)<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 (loss) income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent', window );">Foreign currency translation adjustments</a></td>
<td class="num">(11,256,870)<span></span>
</td>
<td class="num">(3,662,013)<span></span>
</td>
<td class="nump">4,148,190<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 (loss)</a></td>
<td class="num">(11,256,870)<span></span>
</td>
<td class="num">(3,662,013)<span></span>
</td>
<td class="nump">4,148,190<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 (loss) income attributable to Daqo New Energy Corp. shareholders</a></td>
<td class="nump">$ 1,700,019<span></span>
</td>
<td class="nump">$ 12,987,163<span></span>
</td>
<td class="num">$ (66,795,294)<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_IncomeLossFromSubsidiariesBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569643-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract</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>
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<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569643-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 985<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentExpense</td>
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<td><strong> Balance Type:</strong></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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6830370144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF CHANGES IN EQUITY) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Feb. 28, 2015</div></th>
<th class="th"><div>May. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 206,768,070<span></span>
</td>
<td class="nump">$ 137,326,561<span></span>
</td>
<td class="nump">$ 340,877,413<span></span>
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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_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,956,889<span></span>
</td>
<td class="nump">16,649,176<span></span>
</td>
<td class="num">(70,943,484)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,687,951<span></span>
</td>
<td class="nump">1,792,819<span></span>
</td>
<td class="nump">1,881,401<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 275,783<span></span>
</td>
<td class="nump">37,080<span></span>
</td>
<td class="nump">135,171<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,115,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,350,164)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,980,051<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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="nump">$ 28,000,000<span></span>
</td>
<td class="nump">$ 54,600,000<span></span>
</td>
<td class="nump">27,996,959<span></span>
</td>
<td class="nump">54,624,447<span></span>
</td>
<td class="text">&#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_StockIssuedDuringPeriodSharesOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively, shares</a></td>
<td class="nump">38,500,000<span></span>
</td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,516,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">241,656,490<span></span>
</td>
<td class="nump">206,768,070<span></span>
</td>
<td class="nump">137,326,561<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=dq_CommonStockOutstandingMember', window );">Ordinary shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,358<span></span>
</td>
<td class="nump">$ 17,343<span></span>
</td>
<td class="nump">$ 17,288<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_SharesIssued', window );">Balance, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">223,577,853<span></span>
</td>
<td class="nump">173,427,853<span></span>
</td>
<td class="nump">172,877,433<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 112<span></span>
</td>
<td class="nump">$ 15<span></span>
</td>
<td class="nump">$ 55<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_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Options Exercised, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,115,625<span></span>
</td>
<td class="nump">150,000<span></span>
</td>
<td class="nump">550,420<span></span>
</td>
</tr>
<tr class="ro">
<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 of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 of Stock, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,356,900)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,850<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#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_StockIssuedDuringPeriodSharesOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,500,000<span></span>
</td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 26,320<span></span>
</td>
<td class="nump">$ 22,358<span></span>
</td>
<td class="nump">$ 17,343<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">260,836,578<span></span>
</td>
<td class="nump">223,577,853<span></span>
</td>
<td class="nump">173,427,853<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember', window );">Treasury Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
<td class="num">$ (494,928)<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 96,256<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 of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,350,164)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,748,836)<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember', window );">Additional paid in capital [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">203,125,494<span></span>
</td>
<td class="nump">146,676,163<span></span>
</td>
<td class="nump">144,755,902<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,687,951<span></span>
</td>
<td class="nump">1,792,819<span></span>
</td>
<td class="nump">1,881,401<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 275,671<span></span>
</td>
<td class="nump">37,065<span></span>
</td>
<td class="nump">$ 38,860<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_TreasuryStockValueAcquiredParValueMethod', window );">Repurchase of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 27,993,109<span></span>
</td>
<td class="nump">54,619,447<span></span>
</td>
<td class="text">&#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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,275,845<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">236,358,070<span></span>
</td>
<td class="nump">203,125,494<span></span>
</td>
<td class="nump">$ 146,676,163<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember', window );">Retained earnings (accumulated losses) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (16,018,293)<span></span>
</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_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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 of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (3,061,404)<span></span>
</td>
<td class="num">$ (16,018,293)<span></span>
</td>
<td class="num">$ (32,667,469)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember', window );">Accumulated other comprehensive income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,037,183<span></span>
</td>
<td class="nump">$ 23,699,196<span></span>
</td>
<td class="nump">$ 19,551,006<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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 of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses', window );">Deconsolidation of Nanjing Daqo New Energy Co., Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,780,313<span></span>
</td>
<td class="nump">$ 20,037,183<span></span>
</td>
<td class="nump">$ 23,699,196<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">206,768,070<span></span>
</td>
<td class="nump">137,326,561<span></span>
</td>
<td class="nump">202,105,283<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,956,889<span></span>
</td>
<td class="nump">16,649,176<span></span>
</td>
<td class="num">(70,943,484)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(11,256,870)<span></span>
</td>
<td class="num">(3,662,013)<span></span>
</td>
<td class="nump">4,148,190<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,687,951<span></span>
</td>
<td class="nump">1,792,819<span></span>
</td>
<td class="nump">1,881,401<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">275,783<span></span>
</td>
<td class="nump">$ 37,080<span></span>
</td>
<td class="nump">135,171<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 of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,350,164)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 27,996,959<span></span>
</td>
<td class="nump">$ 54,624,447<span></span>
</td>
<td class="text">&#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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,275,845<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">240,354,463<span></span>
</td>
<td class="nump">206,768,070<span></span>
</td>
<td class="nump">137,326,561<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member] | Ordinary shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,358<span></span>
</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_SharesIssued', window );">Balance, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">223,577,853<span></span>
</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_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#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_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 112<span></span>
</td>
<td class="nump">$ 15<span></span>
</td>
<td class="nump">$ 55<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Options Exercised, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,115,625<span></span>
</td>
<td class="nump">150,000<span></span>
</td>
<td class="nump">550,420<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 of Stock, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,356,900)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,850<span></span>
</td>
<td class="nump">$ 5,000<span></span>
</td>
<td class="text">&#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_StockIssuedDuringPeriodSharesOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,500,000<span></span>
</td>
<td class="nump">50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 26,320<span></span>
</td>
<td class="nump">$ 22,358<span></span>
</td>
<td class="nump">$ 17,343<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">260,836,578<span></span>
</td>
<td class="nump">223,577,853<span></span>
</td>
<td class="nump">173,427,853<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member] | Treasury Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
<td class="num">$ (494,928)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#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_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">96,256<span></span>
</td>
</tr>
<tr class="ro">
<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 of Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,350,164)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,748,836)<span></span>
</td>
<td class="num">$ (398,672)<span></span>
</td>
<td class="num">(398,672)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member] | Additional paid in capital [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 203,125,494<span></span>
</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_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#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_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Share-based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,687,951<span></span>
</td>
<td class="nump">$ 1,792,819<span></span>
</td>
<td class="nump">1,881,401<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 275,671<span></span>
</td>
<td class="nump">$ 37,065<span></span>
</td>
<td class="nump">38,860<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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_StockIssuedDuringPeriodValueOther', window );">Follow-on equity offering, net of issuance costs of $3,375,553 and $2,033,041 for the year ended December 31,2014 and 2015 respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 27,993,109<span></span>
</td>
<td class="nump">$ 54,619,447<span></span>
</td>
<td class="text">&#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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Capital injection from noncontrolling shareholders</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,275,845<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">236,358,070<span></span>
</td>
<td class="nump">203,125,494<span></span>
</td>
<td class="nump">146,676,163<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member] | Retained earnings (accumulated losses) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(16,018,293)<span></span>
</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_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,956,889<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">(70,943,484)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#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_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#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_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,061,404<span></span>
</td>
<td class="num">$ (16,018,293)<span></span>
</td>
<td class="num">(32,667,469)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member] | Accumulated other comprehensive income [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_CondensedFinancialStatementsCaptionsLineItems', window );"><strong>Condensed Financial Statements, Captions [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,037,183<span></span>
</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_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (11,256,870)<span></span>
</td>
<td class="num">$ (3,662,013)<span></span>
</td>
<td class="nump">4,148,190<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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 );">Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#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_NoncontrollingInterestDecreaseFromDeconsolidation', window );">Deconsolidation of Daqo New Material Co., Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,780,313<span></span>
</td>
<td class="nump">$ 20,037,183<span></span>
</td>
<td class="nump">$ 23,699,196<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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</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 style="white-space:nowrap;">us-gaap_CondensedFinancialStatementsCaptionsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 gain (loss) in the disposal group, including discontinued operation, recognized in the statement of income as a result of the sale or complete or substantially complete liquidation of an investment in a foreign 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisposalGroupIncludingDiscontinuedOperationForeignCurrencyTranslationGainsLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 23<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569655-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569643-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockIssuedDuringPeriodSharesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 during the period that is attributable to transactions involving issuance of stock not separately disclosed.</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 style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StockIssuedDuringPeriodValueOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 shares of stock issued during the period that is attributable to transactions involving issuance of stock not separately disclosed.</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 style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568740-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockSharesAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TreasuryStockValueAcquiredParValueMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_StatementEquityComponentsAxis=dq_CommonStockOutstandingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=dq_CommonStockOutstandingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></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_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dei_LegalEntityAxis=us-gaap_ParentCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827655712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF CHANGES IN EQUITY) (Parenthetical) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract', window );"><strong>FINANCIAL STATEMENT SCHEDULE I [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts', window );">Follow-on equity offering, issuance costs</a></td>
<td class="nump">$ 2,033,041<span></span>
</td>
<td class="nump">$ 3,375,553<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_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 decrease in additional paid in capital (APIC) resulting from direct costs associated with issuing stock. Includes, but is not limited to, legal and accounting fees and direct costs associated with stock issues under a shelf registration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><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 style="white-space:nowrap;">us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
</div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>109
<FILENAME>R84.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6827047200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FINANCIAL STATEMENT SCHEDULE I (STATEMENT OF CASH FLOWS) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Feb. 28, 2015</div></th>
<th class="th"><div>May. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract', window );"><strong>Operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,956,889<span></span>
</td>
<td class="nump">$ 16,649,176<span></span>
</td>
<td class="num">$ (70,943,484)<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,687,951<span></span>
</td>
<td class="nump">1,792,819<span></span>
</td>
<td class="nump">1,881,401<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,465<span></span>
</td>
<td class="nump">10,217,835<span></span>
</td>
<td class="nump">29,616<span></span>
</td>
</tr>
<tr class="ro">
<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 parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,178,445<span></span>
</td>
<td class="num">$ (453,075)<span></span>
</td>
<td class="num">(415,960)<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_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income tax payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">940,732<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(160,480)<span></span>
</td>
</tr>
<tr class="ro">
<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 party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,481,362<span></span>
</td>
<td class="nump">$ 2,193,604<span></span>
</td>
<td class="num">(6,853,965)<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 (used in) provided by operating activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66,426,213<span></span>
</td>
<td class="nump">$ 45,619,729<span></span>
</td>
<td class="num">$ (16,525,817)<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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 );">Disposition of minority interest in subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,110,085<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations', window );">Net cash used in investing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(74,132,349)<span></span>
</td>
<td class="num">$ (90,589,032)<span></span>
</td>
<td class="num">$ (30,696,113)<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_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_PaymentsForRepurchaseOfCommonStock', window );">Repurchase of ordinary shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,350,164)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from follow-on equity offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,030,000<span></span>
</td>
<td class="nump">$ 58,000,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfStockIssuanceCosts', window );">Insurance cost for follow-on equity offering</a></td>
<td class="num">$ (2,000,000)<span></span>
</td>
<td class="num">$ (3,400,000)<span></span>
</td>
<td class="num">(2,033,041)<span></span>
</td>
<td class="num">(3,375,553)<span></span>
</td>
<td class="text"> <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_ProceedsFromStockOptionsExercised', window );">Proceeds from options exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">275,783<span></span>
</td>
<td class="nump">37,080<span></span>
</td>
<td class="nump">$ 135,171<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_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net cash provided by financing activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,242,079<span></span>
</td>
<td class="nump">44,271,754<span></span>
</td>
<td class="nump">48,826,684<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,421,528<span></span>
</td>
<td class="num">(762,601)<span></span>
</td>
<td class="nump">1,152,060<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,068,483<span></span>
</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_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at the end of the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,490,011<span></span>
</td>
<td class="nump">7,068,483<span></span>
</td>
<td class="nump">7,831,084<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=us-gaap_ParentCompanyMember', window );">Parent Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract', window );"><strong>Operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,956,889<span></span>
</td>
<td class="nump">16,649,176<span></span>
</td>
<td class="num">(70,943,484)<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 );">Share of results of subsidiaries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(17,088,195)<span></span>
</td>
<td class="num">(19,391,427)<span></span>
</td>
<td class="nump">67,890,514<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,687,951<span></span>
</td>
<td class="nump">1,792,819<span></span>
</td>
<td class="nump">1,881,401<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 to net cash used in operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#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_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,099<span></span>
</td>
<td class="num">(27,195)<span></span>
</td>
<td class="nump">344,717<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_IncreaseDecreaseInOtherCurrentLiabilities', window );">Changes in other current liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(96,166)<span></span>
</td>
<td class="num">(26,901)<span></span>
</td>
<td class="nump">$ 137,390<span></span>
</td>
</tr>
<tr class="ro">
<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 parties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(286,526)<span></span>
</td>
<td class="nump">$ 286,526<span></span>
</td>
<td class="text"> <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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">108,992<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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 (used in) provided by operating activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(705,956)<span></span>
</td>
<td class="num">$ (717,002)<span></span>
</td>
<td class="num">$ (689,462)<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" 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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (33,256,774)<span></span>
</td>
<td class="num">$ (54,638,421)<span></span>
</td>
<td class="text"> <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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 71,503<span></span>
</td>
</tr>
<tr class="ro">
<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 );">Disposition of minority interest in subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,110,085<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(28,146,689)<span></span>
</td>
<td class="num">$ (54,638,421)<span></span>
</td>
<td class="nump">$ 71,503<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,350,164)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from follow-on equity offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,030,000<span></span>
</td>
<td class="nump">$ 58,000,000<span></span>
</td>
<td class="text"> <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_PaymentsOfStockIssuanceCosts', window );">Insurance cost for follow-on equity offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,033,041)<span></span>
</td>
<td class="num">(3,375,553)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<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 );">Proceeds from options exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">275,783<span></span>
</td>
<td class="nump">37,080<span></span>
</td>
<td class="nump">$ 135,171<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26,922,578<span></span>
</td>
<td class="nump">54,661,527<span></span>
</td>
<td class="nump">135,171<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,930,067)<span></span>
</td>
<td class="num">(693,896)<span></span>
</td>
<td class="num">(482,788)<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,493,150<span></span>
</td>
<td class="nump">5,187,046<span></span>
</td>
<td class="nump">5,669,834<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,563,083<span></span>
</td>
<td class="nump">$ 4,493,150<span></span>
</td>
<td class="nump">$ 5,187,046<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 style="white-space:nowrap;">dq_CapitalContributedToSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 style="white-space:nowrap;">us-gaap_IncomeLossFromSubsidiariesBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherCurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInDiscontinuedOperationsAndContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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 );">- References</a><div><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 style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_PaymentsOfStockIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 cost incurred directly with the issuance of an equity security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfStockIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 the additional capital contribution to 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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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_dei_LegalEntityAxis=us-gaap_ParentCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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 style="white-space:nowrap;">dei_LegalEntityAxis=us-gaap_ParentCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>110
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
