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NON-CONTROLLING INTERESTS

12 Months Ended

Dec. 31, 2021

NON-CONTROLLING INTERESTS

NON-CONTROLLING INTERESTS

13. NON-CONTROLLING INTERESTS

In July 2021, the Group’s major operational subsidiary Xinjiang Daqo completed its IPO in China and started trading on the Shanghai Stock Exchange’s Sci-Tech Innovation Board. The IPO raised net proceeds of approximately $935.0 million, of which, $344.3 million was recorded in the non-controlling interest and $590.7 million was recorded in the additional paid in capital.

Following the IPO, the Company holds approximately a total ownership of 80.7% of Xinjiang Daqo, directly and indirectly. Xinjiang Daqo’s non-controlling interests’ ownership of the subsidiary changed from 4.40% to 19.30% due to the IPO.

The following schedule shows the effects of changes in the Company’s ownership interest in less than wholly owned subsidiaries on equity attributable to Daqo New Energy Corp. shareholders:

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​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		​	2019		​	2020		​	2021
Net income attributable to Daqo New Energy Corp. shareholders	​	$	29,524	​	$	129,195	​	$	748,924
Transfers from the non-controlling interests:	​			​			​
Increase in the Company’s paid-in capital from sale of non-controlling interest	​		—	​		3,658	​		—
Increase in the Company’s paid-in capital from subsidiary’s offering of its equity interests to third parties	​		—	​		—	​		594,301
Net transfers from non-controlling interests	​		—	​		3,658	​		594,301
Change from net income attributable to Daqo New Energy Corp. shareholders and transfers from non-controlling interests	​		29,524	​		132,853	​		1,343,225

​

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI http://asc.fasb.org/topic&trid=2197479

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- References

No definition available.

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