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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 133,807 $ 29,523 $ 38,766
Less: (Loss) income from discontinued operations, net of tax (141) 1,261 (23,030)
Net income from continuing operations 133,948 28,262 61,796
Adjustments to reconcile net income to net cash provided by operating activities:      
Share-based compensation 17,908 17,897 13,788
Depreciation of property, plant and equipment 68,686 47,371 27,718
Loss on disposal of property plant and equipment 1,103    
Inventory write-down 1,956 327 900
Others 616 50  
Changes in operating assets and liabilities:      
Accounts receivable 13 1,163 (540)
Notes receivable 5,553 2,389 12,023
Prepaid expenses and other current assets 6,689 (5,174) (4,700)
Advances to suppliers (6,018) 1,758 (1,915)
Inventories (5,125) (21,635) (641)
Amounts due from related parties (94)    
Prepaid land use rights 693 582 586
Operating lease right-of-use assets 65 (248)  
Other non-current assets (145)    
Accounts payable 4,556 3,660 (9,449)
Notes payable (54,345) 78,386 (14,205)
Accrued expenses and other current liabilities 16,138 2,942 (916)
Income tax payable 16,629 (605) (7,314)
Advances from customers 3,335 18,063 2,076
Amounts due to related parties (38) 103 9
Deferred government subsidies (497) (171) (605)
Lease liability (86) 164  
Deferred taxes (1,787) 4,696 (152)
Net cash provided by operating activities-continuing operations 209,753 179,980 77,559
Net cash provided by(used in) operating activities-discontinued operations (50) 1,010 17,993
Net cash provided by operating activities 209,703 180,990 95,552
Investing activities:      
Purchases of property, plant and equipment (118,292) (279,044) (143,065)
Purchases of land use rights   (6,593)  
Purchase of short-term investments     (37,860)
Repayment of short-term investments   21,726 15,144
Acquisition of Xinjian Daqo Investment   627 444
Net cash used in investing activities-continuing operations (118,292) (263,284) (165,337)
Net cash provided by (used in) investing activities-discontinued operations (195) 1,457 617
Net cash used in investing activities (118,487) (261,827) (164,720)
Financing activities:      
Proceeds from related parties loans 22,869 20,388 34,831
Repayment of related parties loans (47,538) (20,388) (34,831)
Proceeds from bank borrowings 98,573 178,227 56,002
Repayment of bank borrowings (198,043) (74,554) (59,820)
Proceeds from options exercised 580 791 687
Proceeds from follow-on equity offering     113,541
Insurance costs for follow-on equity offering     (6,919)
Proceeds from sales of equity interest in the Group's subsidiary 28,088 515  
Net cash provided by (used in) financing activities-continuing operations (95,471) 104,979 103,491
Net cash used in financing activities-discontinued operations   (2,651) (16,779)
Net cash provided by (used in) financing activities (95,471) 102,328 86,712
Effect of exchange rate changes on cash, cash equivalents and restricted cash 7,365 (1,317) 4,910
Net increase (decrease) in cash, cash equivalents and restricted cash 3,110 20,174 22,454
Cash, cash equivalents and restricted cash at the beginning of the year (includes $8,952,260, $1,091,190 and $845,199 of cash, cash equivalents and restricted cash in current assets associated with discontinued operations on December 31, 2018, 2019 and 2020) 115,294 95,120 72,666
Cash, cash equivalents and restricted cash at the end of the year (includes $1,091,190, $845,199 and nil of cash, cash equivalents and restricted cash in current assets associated with discontinued operations on December 31, 2018, 2019 and 2020) 118,404 115,294 95,120
Cash and cash equivalents 76,596 52,685 66,402
Restricted cash 41,808 62,609 28,718
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows 118,404 115,294 95,120
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest 24,696 10,215 10,788
Income taxes paid 12,808 5,546 19,453
Supplemental schedule of non-cash investing activities:      
Purchases of property, plant and equipment included in payables 73,148 135,702 56,154
Purchase of property, plant and equipment included in amounts due to related parties - short-term portion 198 26,539 2,241
Payables for acquisition of Xinjiang Daqo Investment included in amounts due to related parties - short-term portion   7,899  
Payables for acquisition of Xinjiang Daqo Investment included in amounts due to related parties - long-term portion $ 4,238 $ 7,899 $ 15,992