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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

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Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

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-Name Regulation S-X (SX)
-Number 210
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-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))
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-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
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-Subparagraph (SX 210.12-04(a))
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