XML 27 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 14,490,011 $ 7,068,483
Restricted cash 19,062,713 22,169,236
Accounts receivable, net of allowance for doubtful accounts of $3,189,110 and $1,087,465 as of December 31, 2014 and 2015 19,849,608 8,714,261
Note receivables 11,109,695 50,239,886
Prepaid expenses and other current assets 12,235,141 12,835,869
Advances to suppliers 1,028,287 1,352,747
Inventories 10,715,939 9,581,784
Amounts due from related parties 284,633 9,986,968
Total current assets 88,776,027 121,949,234
Property, plant and equipment, net 544,326,125 559,006,119
Prepaid land use rights 27,122,287 $ 29,006,693
Deferred tax assets-non current $ 626,965
Other non-current assets $ 169,173
TOTAL ASSETS $ 660,851,404 710,131,219
Current liabilities:    
Short-term bank borrowings, including current portion of long-term bank borrowings 123,936,995 159,803,876
Accounts payable 17,491,292 16,784,156
Note payables 20,152,962 48,941,807
Advances from customers 8,183,376 7,308,535
Payables for purchases of property, plant and equipment 49,674,887 64,575,527
Accrued expenses and other current liabilities 8,616,831 8,955,663
Amount due to related parties 46,396,527 $ 89,698,151
Income tax payable 940,732
Total current liabilities 275,393,602 $ 396,067,715
Long-term bank borrowings $ 118,548,430 77,336,160
Advances from customers 3,401,667
Deferred government subsidies $ 25,252,882 26,557,607
Total liabilities $ 419,194,914 $ 503,363,149
Commitments and contingencies (Note 17)
Daqo New Energy Corp. shareholders' equity:    
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 $ 26,320 $ 22,358
Additional paid in capital 236,358,070 203,125,494
Accumulated losses (3,061,404) (16,018,293)
Accumulated other comprehensive income 8,780,313 20,037,183
Treasury Stock, at cost (2,286,250 and 4,643,150 shares as of December 31, 2014 and 2015, respectively) (1,748,836) (398,672)
Total shareholders' equity 240,354,463 $ 206,768,070
Noncontrolling interest 1,302,027
Total equity 241,656,490 $ 206,768,070
TOTAL LIABILITIES AND EQUITY $ 660,851,404 $ 710,131,219