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FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 31, 2019
FAIR VALUE MEASUREMENTS  
FAIR VALUE MEASUREMENTS

11. FAIR VALUE MEASUREMENTS

Nonrecurring Fair Value Measurements

The Group measures long-lived assets at fair value on a nonrecurring basis only if an impairment or observable price adjustment is recognized in the current period. The Group recorded $18.8 million and nil impairment losses on its long-lived assets for the years ended December 31, 2018 and 2019 respectively.

The following table displays assets that were measured at fair value on a non-recurring basis in 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2018

 

    

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

Carrying

 

 

 

 

 

 

 

 

 

 

 

 

 

 

amount

 

Quoted Prices in

 

Significant

 

 

 

 

 

 

 

 

before

 

Active Markets

 

Other

 

Significant

 

 

 

 

impairment

 

for Identical

 

Observable

 

Unobservable

 

Total

Description

 

losses

 

Assets (Level 1)

 

Inputs (Level 2)

 

Inputs (Level 3)

 

Losses

Property, plant and equipment – cannot be relocated to Xinjiang plant (Note 3)

 

$
11,482,905

 

$

 —

 

$

 —

 

$

 —

 

$
11,482,905

Machinery and equipment related to discontinued wafer manufacturing operations (Note 3)

 

$
66,810,621

 

$

 —

 

$

 —

 

$
59,523,588

 

$
7,287,033

Total

 

$

78,293,526

 

$

 —

 

$

 —

 

$

59,523,588

 

$

18,769,938