XML 61 R42.htm IDEA: XBRL DOCUMENT
v3.25.1

FINANCIAL STATEMENT SCHEDULE I (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
FINANCIAL STATEMENT SCHEDULE I |
Schedule of CONDENSED BALANCE SHEETS | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
​ |  | 2023 |  | 2024
ASSETS | ​ | ​ | ​ | ​ | ​ | ​
Current assets: | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 218,841 | ​ | $ | 299,576
Total current assets | ​ |  | 218,841 | ​ | ​ | 299,576
Investments in subsidiaries | ​ |  | 4,632,501 | ​ | ​ | 4,062,484
TOTAL ASSETS | ​ | $ | 4,851,342 | ​ | $ | 4,362,060
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND SHAREHOLDERS’ EQUITY | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Accrued expenses and other current liabilities | ​ | $ | 89,435 | ​ | $ | 868
Total current liabilities | ​ |  | 89,435 | ​ | ​ | 868
Equity: | ​ | ​ | ​ | ​ | ​ | ​
Ordinary shares ($0.0001 par value 500,000,000 shares authorized as of December 31, 2023 and 2024; 415,330,312 shares issued and 328,513,282 shares outstanding as of December 31, 2023; 421,521,162 shares issued and 333,759,632 shares outstanding as of December 31, 2024) | ​ |  | 41 | ​ | ​ | 42
Additional paid-in capital | ​ |  | 2,340,084 | ​ | ​ | 2,408,799
Retained earnings | ​ |  | 3,328,388 | ​ | ​ | 2,983,173
Accumulated other comprehensive loss | ​ |  | (293,997) | ​ | ​ | (413,210)
Treasury shares, at cost (86,817,030 shares as of December 31, 2023; 87,761,530 shares as of December 31, 2024) | ​ |  | (612,609) | ​ | ​ | (617,612)
Total shareholders’ equity | ​ |  | 4,761,907 | ​ | ​ | 4,361,192
TOTAL LIABILITIES AND EQUITY | ​ | $ | 4,851,342 | ​ | $ | 4,362,060
Schedule of CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ | 2022 | ​ | 2023 | ​ | 2024
Operating expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
General and administrative | ​ | $ | (295,431) | ​ | $ | (142,232) | ​ | $ | (78,470)
Total operating expenses | ​ |  | (295,431) | ​ | ​ | (142,232) | ​ | ​ | (78,470)
Loss from operations | ​ |  | (295,431) | ​ | ​ | (142,232) | ​ | ​ | (78,470)
Interest income, net | ​ |  | 144 | ​ | ​ | 3,835 | ​ | ​ | 9,766
Income tax (expense) benefit | ​ | ​ | (79,945) | ​ | ​ | (9,020) | ​ | ​ | 88,965
Net (loss) income before share of results of subsidiaries | ​ |  | (375,232) | ​ | ​ | (147,417) | ​ | ​ | 20,261
Equity in earnings (losses) of subsidiaries | ​ |  | 2,195,033 | ​ | ​ | 576,962 | ​ | ​ | (365,476)
Net income (loss) attributable to Daqo New Energy Corp. ordinary shareholders | ​ | $ | 1,819,801 | ​ | $ | 429,545 | ​ | $ | (345,215)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other comprehensive loss: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign currency translation adjustments, net of tax of nil | ​ |  | (252,800) | ​ | ​ | (119,511) | ​ | ​ | (118,750)
Total other comprehensive loss | ​ |  | (252,800) | ​ | ​ | (119,511) | ​ | ​ | (118,750)
Comprehensive income (loss) | ​ | $ | 1,567,001 | ​ | $ | 310,034 | ​ | $ | (463,965)
Schedule of CONDENSED STATEMENT OF CASH FLOWS | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ | 2022 |  | 2023 |  | 2024
OPERATING ACTIVITIES | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net cash provided by operating activities | ​ |  | 124,048 | ​ | ​ | 702,391 | ​ | ​ | 85,681
FINANCING ACTIVITIES | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from bank borrowings | ​ | ​ | — | ​ | ​ | 140,000 | ​ | ​ | —
Repayment of bank borrowings | ​ |  | — | ​ | ​ | (140,000) | ​ | ​ | —
Proceeds from options exercised | ​ |  | 995 | ​ | ​ | 4 | ​ | ​ | 57
Payments for repurchase of common shares | ​ | ​ | (124,929) | ​ | ​ | (485,931) | ​ | ​ | (5,003)
Net cash used in financing activities | ​ |  | (123,934) | ​ | ​ | (485,927) | ​ | ​ | (4,946)
NET INCREASE IN CASH AND CASH EQUIVALENTS | ​ |  | 114 | ​ | ​ | 216,464 | ​ | ​ | 80,735
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR | ​ |  | 2,263 | ​ | ​ | 2,377 | ​ | ​ | 218,841
CASH AND CASH EQUIVALENTS AT END OF THE YEAR | ​ | $ | 2,377 | ​ | $ | 218,841 | ​ | $ | 299,576

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration