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RELATED PARTY TRANSACTIONS AND BALANCES | 12 Months Ended
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Dec. 31, 2021
RELATED PARTY TRANSACTIONS AND BALANCES |
RELATED PARTY TRANSACTIONS AND BALANCES | 15. RELATED PARTY TRANSACTIONS AND BALANCES
(1) | The relationships between the Group and major related parties are as follows:
​
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 controlled by Daqo Group
Daqo Solar Co. Ltd (“Daqo Solar”) |  | An affiliated company controlled by Daqo Group
Daqo New Material Co., Ltd. (“Daqo New Material”) |  | An affiliated company controlled by Daqo Group
Chongqing Daqo Tailai Electric Co., Ltd. (“Chongqing Daqo Tailai”) |  | An affiliated company controlled by Daqo Group
Nanjing Daqo Transformer Systems Co., Ltd. (“Nanjing Daqo Transformer”) |  | An affiliated company controlled by Daqo Group
Jiangsu Daqo Changjiang Electric Co., Ltd. (“Jiangsu Daqo”) |  | An affiliated company controlled by Daqo Group
Nanjing Daqo Electric Co., Ltd. (“Nanjing Daqo Electric”) |  | An affiliated company controlled by Daqo Group
Zhenjiang Electric Equipment Co., Ltd. ( “Zhenjiang Electric”) |  | An affiliated company controlled by Daqo Group
Daqo Investment Co.,Ltd.(“Daqo Investment”) | ​ | An affiliated company controlled by Daqo Group
Nanjing Yidian Huichuang Information Technology Co.,Ltd. (“Nanjing Yidian”) | ​ | An affiliated company controlled by Daqo Group, and disposed in September 2020
​
(2) | Related party balances:
The balances due from related parties of continuing and discontinued operations are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2021
Amounts due from related parties (continuing operations) |  | ​ |  |  | ​ |
Nanjing Daqo Transformer | ​ | $ | 104 | ​ | $ | —
Others | ​ |  | 25 | ​ |  | —
Total | ​ | $ | 129 | ​ | $ | —
​ The balances due to related parties – short-term portion of continuing operations are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2020 |  | 2021
Amounts due to related parties – short term portion (continuing operations) |  | ​ |  |  | ​ |
Nanjing Daqo Transformer | ​ | $ | 170 | ​ | $ | 1,729
Chongqing Daqo Tailai | ​ | ​ | 55 | ​ | ​ | 2,085
Daqo New Material | ​ | ​ | 4,549 | ​ | ​ | 4,673
Nanjing Daqo Electric | ​ | ​ | — | ​ | ​ | 981
Jiangsu Daqo | ​ | ​ | 5 | ​ | ​ | 612
Zhenjiang Electric | ​ | ​ | — | ​ | ​ | 231
Others | ​ |  | 371 | ​ |  | 504
Total | ​ | $ | 5,150 | ​ | $ | 10,815
​ The balance due to related parties – long-term portion (continuing operations) of nil and $4.2 million represents the consideration payables to Daqo Group for the acquisition of Xinjiang Daqo Investment as of December 31, 2021 and 2020, respectively.
(3) | 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 |  | 2019 |  | 2020 |  | 2021
Daqo Group |  | Repayment of interest free loans | ​ | $ | — | ​ | $ | 11,597 | ​ | $ | 4,650
Zhenjiang Daqo |  | Proceeds from interest free loans | ​ |  | — | ​ |  | 4,349 | ​ |  | —
​ | ​ | Repayment of interest free loans | ​ | ​ | — | ​ | ​ | 4,349 | ​ | ​ | —
​ |  | Sales | ​ |  | 3,987 | ​ |  | — | ​ |  | —
Daqo Solar |  | Proceeds from interest free loans | ​ |  | 16,005 | ​ |  | 18,520 | ​ |  | 13,213
​ |  | Repayment of interest free loans | ​ |  | 16,005 | ​ |  | 18,412 | ​ |  | 13,483
Nanjing Daqo Transformer |  | Purchase-fixed assets | ​ |  | 12,337 | ​ |  | 40 | ​ |  | 12,913
​ | ​ | Proceeds from interest free loans | ​ |  | 1,842 | ​ |  | — | ​ |  | —
​ | ​ | Repayment of interest free loans | ​ |  | 1,842 | ​ |  | 8,131 | ​ |  | —
Chongqing Daqo Tailai |  | Purchase-fixed assets | ​ |  | 15,212 | ​ |  | 111 | ​ |  | 17,812
​ |  | Proceeds from interest free loans | ​ |  | 2,541 | ​ |  | — | ​ |  | —
​ |  | Repayment of interest free loans | ​ |  | 2,541 | ​ |  | 5,049 | ​ |  | —
Jiangsu Daqo |  | Purchase-fixed assets | ​ |  | 4,115 | ​ |  | — | ​ |  | 5,299
Nanjing Daqo Electric |  | Purchase-fixed assets | ​ | ​ | 6,229 | ​ | ​ | 45 | ​ | ​ | 8,553
Zhenjiang Electric |  | Purchase-raw material | ​ | ​ | 1,700 | ​ | ​ | — | ​ | ​ | 1,967
Nanjing Yidian | ​ | Purchase-fixed assets | ​ | ​ | 8,690 | ​ | ​ | 1,218 | ​ | ​ | —
​ | ​ | Purchase-raw material | ​ | ​ | 1,625 | ​ | ​ | 560 | ​ | ​ | —
Total |  | Sales | ​ | $ | 3,987 | ​ | $ | — | ​ | ​ | —
​ | ​ | Purchase-fixed assets | ​ | $ | 46,583 | ​ | $ | 1,414 | ​ | ​ | 44,577
​ | ​ | Purchase-raw material | ​ | $ | 3,325 | ​ | $ | 560 | ​ | ​ | 1,967
​ | ​ | Proceeds from related parties loans | ​ | $ | 20,388 | ​ | $ | 22,869 | ​ | ​ | 13,213
​ | ​ | Repayment of related parties loans | ​ | $ | 20,388 | ​ | $ | 47,538 | ​ | ​ | 18,133
​

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