XML 88 R41.htm IDEA: XBRL DOCUMENT v3.20.1
RELATED PARTY TRANSACTIONS AND BALANCES (Tables)
 12 Months Ended
Dec. 31, 2019
RELATED PARTY TRANSACTIONS AND BALANCES  
Schedule of material related party relationship

Name of the related party

   

Relationship

Daqo Group Co., Ltd. (“Daqo Group”)

 

Daqo Group and the Group are controlled by same group of shareholders

Zhenjiang Daqo Solar Co. Ltd.(“Zhenjiang Daqo”) 

 

An affiliated company which is 100% held by Daqo Group

Daqo Solar Co. Ltd (“Daqo Solar”)

 

An affiliated company which is 100% held by Daqo Group

Xinjiang Daqo Investment Co., Ltd. ("Xinjiang Daqo Investment")

 

An affiliated company which is 100% held by Daqo Group before December 20,2018 and is 100% held by the Group since December 20,2018

Daqo New Material Co., Ltd. ("Daqo New Material")

 

An affiliated company which was 100% held by Daqo Group

Chongqing Daqo Tailai Electric Co., Ltd. (“Chongqing Daqo Tailai”)

 

An affiliated company which is 100% held by Daqo Group

Nanjing Daqo Transformer Systems Co., Ltd. (“Nanjing Daqo Transformer”) 

 

An affiliated company which is 100% held by Daqo Group

Jiangsu Daqo Changjiang Electric Co., Ltd. (“Jiangsu Daqo”)

 

An affiliated company which is 100% held by Daqo Group

Nanjing Daqo Electric Co., Ltd. (“Nanjing Daqo Electric”)

 

An affiliated company which is 100% held by Daqo Group

Zhenjiang Electric Equipment Co., Ltd. ( “Zhenjiang Electric”)

 

An affiliated company which is 100% held by Daqo Group

Daqo Investmsnt Co.,Ltd.("Daqo Investment")

 

An affiliated company which is 100% held by Daqo Group

 

Schedule of Related Party Balances, Loans

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2018

    

2019

Amounts due from related parties (continuing operations)

 

 

  

 

 

  

Xinjiang Daqo Tianfu Thermoelectric

 

$

629,495

 

$

 —

Others

 

 

185,540

 

 

16,521

Total

 

$

815,035

 

$

16,521

Amounts due from related parties (discontinued operations)

 

 

  

 

 

 

Zhenjiang Daqo

 

$

1,453,800

 

$

 —

Others

 

 

913,857

 

 

 —

Total

 

$

2,367,657

 

$

 —

 

Schedule of Related Party Balances, Payables

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2018

    

2019

Amounts due to related parties – short term portion (continuing operations)

 

 

  

 

 

  

Nanjing Daqo Transformer

 

 

 —

 

 

9,637,251

Chongqing Daqo Tailai

 

$

1,825,680

 

$

8,004,373

Daqo Group

 

 

10,365

 

 

7,904,387

Daqo New Material

 

 

 —

 

 

4,265,514

Nanjing Daqo Electric

 

 

126,332

 

 

3,240,501

Jiangsu Daqo

 

 

143,527

 

 

3,162,300

Zhenjiang Electric

 

 

 —

 

 

1,489,553

Others

 

 

154,103

 

 

1,120,948

Total

 

$

2,260,007

 

$

38,824,827

Amounts due to related parties – short term portion (discontinued operations)

 

 

 

 

 

 

Daqo New Material

 

$

5,314,587

 

$

 —

Others

 

 

 —

 

 

187,882

Total

 

$

5,314,587

 

$

187,882

 

Schedule of Related Party Transactions

The material transactions with Daqo Group and its subsidiaries were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transaction

 

Year Ended December 31, 

Name of Related parties

    

Nature

    

2017

    

2018

    

2019

Daqo Group

 

Proceeds from interest free loans

 

$

2,696,513

 

$

25,744,800

 

$

 —

 

 

Repayment of interest free loans

 

 

2,696,513

 

 

36,648,480

 

 

 —

 

 

Repayment of interest bearing loans

 

 

15,495,451

 

 

 —

 

 

 —

Zhenjiang Daqo

 

Proceeds from interest free loans

 

 

 —

 

 

10,903,680

 

 

 —

 

 

Repayment of interest free loans

 

 

 —

 

 

 —

 

 

 —

 

 

Sales

 

 

13,442,273

 

 

6,694,997

 

 

3,987,080

Daqo Solar

 

Proceeds from interest free loans

 

 

40,089,689

 

 

55,613,463

 

 

16,004,820

 

 

Repayment of interest free loans

 

 

40,388,195

 

 

55,650,696

 

 

16,004,820

Nanjing Daqo Transformer

 

Purchase-Fixed assets

 

 

 —

 

 

6,201,243

 

 

12,337,022

 

 

Proceeds from interest free loans

 

 

 —

 

 

 —

 

 

1,842,582

 

 

Repayment of interest free loans

 

 

 —

 

 

 —

 

 

1,842,582

Xinjiang Daqo Investment

 

Proceeds from interest free loans

 

 

14,356,000

 

 

3,937,440

 

 

*

 

 

Repayment of interest free loans

 

 

14,356,000

 

 

4,020,732

 

 

*

Daqo New Material

 

Purchase-Fixed assets

 

 

7,390,693

 

 

 —

 

 

 —

 

 

Proceeds from interest free loans

 

 

6,029,877

 

 

1,893,000

 

 

 —

 

 

Repayment of interest free loans

 

 

10,818,493

 

 

1,893,000

 

 

 —

Chongqing Daqo Tailai

 

Purchase-Fixed assets

 

 

715,361

 

 

8,240,830

 

 

15,212,713

 

 

Proceeds from interest free loans

 

 

 —

 

 

6,209,040

 

 

2,540,969

 

 

Repayment of interest free loans

 

 

 —

 

 

6,209,040

 

 

2,540,969

Jiangsu Daqo

 

Purchase-Fixed assets

 

 

 —

 

 

1,326,634

 

 

4,115,164

Nanjing Daqo Electric

 

Purchase-Fixed assets

 

 

 —

 

 

1,439,332

 

 

6,228,522

Zhenjiang Electric

 

Purchase-Raw material

 

 

 —

 

 

331,353

 

 

1,699,536

Total

 

Sales

 

$

13,442,273

 

$

6,694,997

 

$

3,987,080

 

 

Purchase-Fixed assets

 

$

8,106,054

 

$

17,208,039

 

$

37,893,421

 

 

Purchase-Raw material

 

$

 —

 

$

331,353

 

$

1,699,536

 

 

Proceeds from related parties loans

 

$

63,172,079

 

$

104,301,423

 

$

20,388,371

 

 

Repayment of related parties loans

 

$

83,754,652

 

$

104,421,948

 

$

20,388,371