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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net income $ 38,765,537 $ 93,855,400 $ 43,923,997
Less: Income (loss) from discontinued operations, net of tax (23,305,045) (4,087,925) 2,710,591
Net income from continuing operations 62,070,582 97,943,325 41,213,406
Adjustments to reconcile net income to net cash provided by operating activities:      
Share-based compensation 13,788,049 4,200,273 2,702,089
Depreciation of property, plant and equipment 27,487,163 27,576,077 22,620,885
Loss on disposal of property plant and equipment 130,666
Deferred tax assets (151,843) (85,302) 445
Changes in operating assets and liabilities:      
Accounts receivable (539,597) 1,172,506 13,794,121
Notes receivable 12,022,847 (10,197,038) (3,948,804)
Prepaid expenses and other current assets (4,699,699) 496,485 2,895,291
Advances to suppliers (1,914,816) (62,384) (735,105)
Inventories (641,481) (7,919,605) (1,601,970)
Amount due from related parties 82 212 (5,897)
Prepaid land use rights 544,267 531,903 517,448
Accounts payable (9,449,164) 4,038,950 3,104,177
Notes payable (14,204,999) 199,562 7,860,687
Accrued expenses and other current liabilities (918,399) 4,581,224 805,730
Income tax payable (7,314,062) 7,253,601 4,420,313
Advances from customers 2,076,037 8,386,416 2,726,889
Amount due to related parties 8,793 1,000 (11,232,335)
Deferred government subsidies (605,268) (591,519) (588,308)
Net cash provided by operating activities-continuing operations 77,558,492 137,656,352 84,549,062
Net cash provided by operating activities-discontinued operations 17,994,548 5,048,042 14,122,875
Net cash provided by operating activities 95,553,040 142,704,394 98,671,937
Investing activities:      
Purchases of property, plant and equipment (143,064,872) (64,084,712) (66,503,592)
Investment in an affiliate (63,793) (581,581)
Purchase of short-term investments (37,860,000)
Repayment of short-term investments 15,144,000
Acquisition of Xinjian Daqo Investment 443,579
Net cash used in investing activities-continuing operations (165,337,293) (64,148,505) (67,085,173)
Net cash (used in) provided by investing activities-discontinued operations 616,988 (3,752,066) (975,550)
Net cash used in investing activities (164,720,305) (67,900,571) (68,060,723)
Financing activities:      
Proceeds from related parties loans 34,831,200 19,382,389 56,923,289
Repayment of related parties loans (34,831,200) (19,382,389) (48,286,149)
Proceeds from bank borrowings 56,002,512 65,349,400 91,927,666
Repayment of bank borrowings (59,819,936) (96,200,000) (98,184,680)
Proceeds from options exercised 686,596 2,238,854 1,051,586
Proceeds from follow-on equity offering 113,540,845
Insurance costs for follow-on equity offering (6,919,202)
Net cash provided by (used in) financing activities–continuing operations 103,490,815 (28,611,746) 3,431,712
Net cash used in financing activities–discontinued operations (16,778,925) (8,742,573) (33,711,235)
Net cash provided by (used in) financing activities 86,711,890 (37,354,319) (30,279,523)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4,909,097 3,335,715 (2,003,470)
Net increase (decrease) in cash, cash equivalents and restricted cash 22,453,722 40,785,219 (1,671,779)
Cash, cash equivalents and restricted cash at the beginning of the year (includes $20,590,084, $3,723,807 and $8,952,260 of cash, cash equivalents and restricted cash in current assets associated with discontinued operations on December 31, 2015, 2016 and 2017) 72,666,164 31,880,945 33,552,724
Cash, cash equivalents and restricted cash at the end of the year (includes $3,723,807, $8,952,260 and $1,091,190 of cash, cash equivalents and restricted cash in current assets associated with discontinued operations on December 31, 2016, 2017 and 2018) 95,119,886 72,666,164 31,880,945
Cash and cash equivalents 65,419,389 53,802,946 15,987,478
Restricted cash 28,718,478 11,989,559 15,893,467
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows 95,119,886 72,666,164 31,880,945
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest 10,787,862 16,308,829 12,350,570
Income taxes paid 19,452,799 9,526,485 2,998,658
Supplemental schedule of non-cash investing activities:      
Purchases of property, plant and equipment included in payables 56,153,860 22,018,200 61,475,715
Purchase of property, plant and equipment included in amounts due to related parties – short-term portion 2,240,686 1,825,617 3,341,201
Payables for acquisition of Xinjiang Daqo Investment included in amounts due to related parties – long-term portion $ 15,991,800