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BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2019

BORROWINGS

Schedule of Bank Borrowings

The Group’s bank borrowings consist of the following:

		December 31,
		2018			2019
Short-term bank borrowings		$	34,135,224		$	79,062,810
Long-term bank borrowings, current portion			4,070,640			49,548,900
Total borrowings, current			38,205,864			128,611,710
Long-term bank borrowings, non-current portion			133,312,370			151,518,023
Total		$	171,518,234		$	280,129,733

Schedule of Short-term Debt

The Group’s short-term bank borrowings consist of the following:

		December 31,
		2018			2019
Short-term borrowings guaranteed by Daqo Group and its related parties		$	29,076,000		$	79,062,810
Short-term borrowings pledged by certificate of deposit			5,059,224			—
Total		$	34,135,224		$	79,062,810

Schedule of Long-Term Bank Borrowings

The long-term bank borrowings, including current portion, as of December 31, 2018 and 2019 are comprised of:

		December 31,
		2018			2019
Borrowing from Shihezi Rural Cooperative Bank		$	17,445,600		$	27,287,800
Borrowing from Chongqing Rural Commercial Bank			119,937,410			117,049,223
Borrowing from Bank of China			—			56,729,900
Total		$	137,383,010		$	201,066,923

Schedule of Principal Maturities of Long-term Bank Borrowings

The principal maturities of these long-term bank borrowings as of December 31, 2019 are as follows:

Year ending December 31,		Amount
2020		$	49,548,900
2021			56,729,900
2022			56,011,800
2023			33,749,623
2024			5,026,700
Total		$	201,066,923

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