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RELATED PARTY TRANSACTIONS AND BALANCES (Tables)
 12 Months Ended
Dec. 31, 2017
RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]  
Schedule of Related Party Balances, Loans
 
 
December 31,
 
 
 
2016
 
2017
 
Amounts due from related parties
 
 
 
 
 
 
 
Zhenjiang Daqo
 
$
1,449,824
 
$
8,585,337
 
Others
 
 
78,888
 
 
412,102
 
Total
 
$
1,528,712
 
$
8,997,439
 
Schedule of Related Party Balances, Payables
The balances are payable on demand and are as follows:
 
 
 
December 31,
 
 
 
2016
 
2017
 
Amounts due to related parties
 
 
 
 
 
 
 
Daqo Group
 
$
15,076,133
 
$
6,075
 
Daqo New Material
 
 
8,323,271
 
 
6,014,190
 
Xinjiang Daqo Investment
 
 
79,197
 
 
84,541
 
Chongqing Daqo Tailai
 
 
2,107,488
 
 
494,954
 
Nanjing Daqo Transformer
 
 
1,022,075
 
 
168,774
 
Others
 
 
221,441
 
 
1,364
 
 
 
 
 
 
 
 
 
Total
 
$
26,829,605
 
$
6,769,898
 
Schedule of Related Party Transactions
The transactions with Daqo Group and its subsidiaries were as follows:
 
 
 
Transaction
 
Year Ended December 31,
 
Name of Related parties
 
Nature
 
2015
 
2016
 
2017
 
Daqo Group
 
Proceeds from interest free loans
 
 
15,043,550
 
 
—
 
 
2,696,513
 
 
 
Repayment of interest free loans
 
 
20,217,257
 
 
10,974,807
 
 
2,696,513
 
 
 
Repayment of interest bearing loan
 
 
—
 
 
15,059,000
 
 
15,495,451
 
 
 
Interest charged
 
 
—
 
 
850,380
 
 
440,368
 
 
 
Rental expense
 
 
—
 
 
27,997
 
 
37,756
 
Zhenjiang Daqo
 
Sales
 
 
11,111,239
 
 
11,194,197
 
 
13,442,273
 
Daqo Solar
 
Sales
 
 
783,705
 
 
—
 
 
—
 
 
 
Proceeds from interest free loans
 
 
127,060,826
 
 
60,300,896
 
 
40,089,689
 
 
 
Repayment of interest free loans
 
 
151,990,672
 
 
68,766,506
 
 
40,388,195
 
Nanjing Daqo
 
Proceeds from interest free loans
 
 
13,456,861
 
 
—
 
 
—
 
 
 
Repayment of interest free loans
 
 
13,456,861
 
 
—
 
 
—
 
Xinjiang Daqo Investment
 
Proceeds from interest free loans
 
 
72,946,700
 
 
56,270,085
 
 
14,356,000
 
 
 
Repayment of interest free loans
 
 
73,252,506
 
 
38,715,449
 
 
14,356,000
 
Daqo New Material
 
Proceeds from interest free loans
 
 
11,082,241
 
 
9,607,344
 
 
6,029,877
 
 
 
Repayment of interest free loans
 
 
11,285,114
 
 
12,262,592
 
 
10,818,493
 
 
 
Purchase-Fixed assets
 
 
—
 
 
—
 
 
7,390,693
 
 
 
Rental expense
 
 
1,050,661
 
 
993,894
 
 
976,800
 
Chongqing Daqo Tailai
 
Purchase-Fixed assets
 
 
375,528
 
 
3,534,248
 
 
715,361
 
 
 
Purchase-Raw material
 
 
9,938
 
 
—
 
 
—
 
 
 
Income from disposal of fixed assets
 
 
6,458
 
 
—
 
 
—
 
 
 
Proceeds from interest free loans
 
 
6,367,640
 
 
222,517
 
 
—
 
 
 
Repayment of interest free loans
 
 
6,367,640
 
 
2,684,783
 
 
—
 
Others subsidiaries under Daqo Group
 
Repayment of interest free loans
 
 
5,296
 
 
—
 
 
—
 
 
 
Purchase-Fixed assets
 
 
3,488,330
 
 
2,120,768
 
 
80,240
 
 
 
Purchase-Raw material
 
 
22,817
 
 
129,219
 
 
17,651
 
Total
 
Sales
 
$
11,894,944
 
$
11,194,197
 
$
13,442,273
 
 
 
Income from disposal of fixed assets
 
$
6,458
 
$
—
 
$
—
 
 
 
Purchase-Fixed assets
 
$
3,863,858
 
$
5,655,016
 
$
8,186,294
 
 
 
Purchase-Raw material
 
$
32,755
 
$
129,219
 
$
17,651
 
 
 
Rental expense
 
$
1,050,661
 
$
1,021,891
 
$
1,014,556
 
 
 
Interest expense
 
$
—
 
$
850,380
 
 
440,368
 
 
 
Proceeds from related parties loans
 
$
245,957,818
 
$
126,400,842
 
$
63,172,079
 
 
 
Repayment of related parties loans
 
$
276,575,346
 
$
148,463,137
 
$
83,754,652