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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 3,499,488 $ 723,775
Restricted cash 20,863 191
Notes receivable 1,131,566 365,911
Short-term investments 13,927 280,251
Prepaid expenses and other current assets 52,932 41,684
Advances to suppliers 852 3,397
Inventories 169,517 327,771
Amounts due from related parties- short-term portion 18 0
Total current assets 4,889,163 1,742,980
Property, plant and equipment, net 2,605,195 1,559,110
Prepaid land use rights, net 80,330 40,741
Deferred tax assets 1,809 0
Amounts due from related parties- long-term portion 16,864 0
Other non-current assets 735 820
TOTAL ASSETS 7,594,096 3,343,651
Current liabilities:    
Accounts payable 81,875 81,469
Notes payable 20,687 0
Advances from customers - short-term portion 121,992 202,958
Payables for purchases of property, plant and equipment 230,440 142,937
Accrued expenses and other current liabilities 51,497 40,848
Amounts due to related parties - short-term portion 8,417 10,815
Income tax payable 221,634 71,472
Total current liabilities 736,542 550,499
Advances from customers - long-term portion 153,176 90,661
Deferred government subsidies 19,232 21,935
Deferred tax liabilities 80,540 16,726
Total liabilities 989,490 679,821
Ordinary shares;    
$0.0001 par value 500,000,000 shares authorized as of December 31, 2021 and 2022; 377,177,802 shares issued and 372,534,652 shares outstanding as of December 31, 2021; 405,620,792 shares issued and 391,023,327 shares outstanding as of December 31, 2022 40 38
Additional paid-in capital 2,211,203 1,016,855
Retained earnings 2,898,843 1,079,042
Accumulated other comprehensive income (loss) (176,032) 67,773
Treasury shares, at cost (4,643,150 shares as of December 31, 2021; 14,597,465 shares as of December 31, 2022) (126,678) (1,749)
Total Daqo New Energy Corp. shareholders' equity 4,807,376 2,161,959
Non-controlling interest 1,797,230 501,871
Total shareholders' equity 6,604,606 2,663,830
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 7,594,096 $ 3,343,651