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BORROWINGS

12 Months Ended

Dec. 31, 2021

BORROWINGS

BORROWINGS

7. BORROWINGS

The Group’s bank borrowings consist of the following:

​

​	​	​	​	​	​	​
​	​	December 31,
​		2020			2021
Short-term bank borrowings	​	$	15,317	​	$	—
Long-term bank borrowings, current portion	​		55,114	​		—
Total borrowings, current	​		70,431	​		—
Long-term bank borrowings, non-current portion	​		123,222	​		—
Total	​	$	193,653	​	$	—

​

​

Most of the Group’s bank borrowings were guaranteed by Daqo Group and its related parties. The Group has fully repaid the bank borrowings in 2021, with guarantees still being effective during the validity period of long-term facility contracts.

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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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