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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 652,886 $ 2,479,642 $ 864,847
Adjustments to reconcile net income to net cash provided by operating activities:      
Share-based compensation 141,918 307,447 10,077
Depreciation of property, plant and equipment 148,889 107,097 77,366
Prepaid land use rights 2,368 1,220 821
Loss on disposal of property plant and equipment 4,379 8,904 2,749
Inventory write-down 4,519 0 0
Fair value change of short-term investments (110) (1,110) (2,407)
Others 3,396 8,407 4,378
Changes in operating assets and liabilities:      
Notes receivable 987,481 (816,238) (360,259)
Prepaid expenses and other current assets (136,182) (14,923) (31,556)
Advances to suppliers (13,543) 2,341 4,755
Inventories (13,079) 138,258 (280,187)
Amounts due from related parties (88) (4) 118
Other non-current assets (900)   62
Accounts payable 13,365 6,999 61,067
Notes payable     (26,068)
Accrued expenses and other current liabilities 24,874 14,241 9,727
Income tax payable (126,117) 160,058 47,451
Advances from customers (7,338) (3,616) 243,695
Amounts due to related parties (50) (124) 25
Deferred government subsidies (547) (1,005) (562)
Lease liability     (83)
Deferred taxes (70,079) 65,058 12,973
Net cash provided by operating activities 1,616,042 2,462,652 638,989
Investing activities:      
Purchases of property, plant and equipment (1,110,738) (1,205,330) (498,505)
Purchases of land use rights (76,102) (45,188) (9,755)
Proceeds from disposal of land use rights 3,955    
Purchase of short-term investments   (46,192) (501,441)
Redemption of short-term investments 13,701 298,294 227,807
Purchase of long-term deposit (26,771)    
Net cash used in investing activities (1,195,955) (998,416) (781,894)
Financing activities:      
Proceeds from related parties loans     13,213
Repayment of related parties loans     (18,133)
Proceeds from bank borrowings 140,000 178,752 48,822
Repayment of bank borrowings (140,000) (178,752) (244,776)
Proceeds from options exercised 4 995 2,139
Acquisition of minority interest of a subsidiary   (776)  
Proceeds from subsidiary's public offering of ordinary shares, net of issuance costs paid of $59 million     934,960
Payments for repurchase of common shares (485,931) (124,929)  
Proceeds from subsidiary's follow-on offering of its equity interests, net of issuance costs paid of $9.4 million   1,630,563  
Subsidiary's dividend payment (303,658) (33,762)  
Payments for repurchase of shares by subsidiary (36,204)    
Proceeds from exercise of subsidiary's stock options 30,391    
Net cash provided by (used in) financing activities (795,398) 1,472,091 736,225
Effect of exchange rate changes on cash, cash equivalents and restricted cash (97,084) (139,942) 12,242
Net increase (decrease) in cash, cash equivalents and restricted cash (472,395) 2,796,385 605,562
Cash, cash equivalents and restricted cash at the beginning of the year 3,520,351 723,966 118,404
Cash, cash equivalents and restricted cash at the end of the year 3,047,956 3,520,351 723,966
Cash and cash equivalents 3,038,827 3,499,488 723,775
Restricted cash 9,129 20,863 191
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows 3,047,956 3,520,351 723,966
Supplemental disclosure of cash flow information:      
Interest paid, net of capitalized interest 4,719 7,926 21,158
Income taxes paid 289,529 350,583 108,099
Supplemental schedule of non-cash investing activities:      
Purchases of property, plant and equipment included in payables 421,024 251,127 142,937
Purchase of property, plant and equipment included in amounts due to related parties - short-term portion $ 6,492 $ 4,082 $ 5,979