GCL TECH (03800.HK)  -0.020 (-2.222%)    Short selling $10.86M; Ratio 15.082%   opened 2.35% higher today and once peaked at $0.99 with a surge of 16%. It last traded at $0.9, up 5.88%, on a volume of 844 million shares, involving $777 million.

CLSA attributed the rally in GCL TECH's share price to market rumors that the Chinese government is considering implementing supply-side policies for the solar sector (especially polysilicon), and that industry alliances are planning to raise the price of polysilicon to a range of RMB45-50 per kilogram.

Unlike previous supply-side reforms in coal and steel, CLSA reiterated that the Chinese government is likely to introduce relatively mild supply-side reforms for the solar sector rather than imposing administrative production cuts, given that the sector's major players are non-state-owned enterprises. The broker believed that potential policies will bring marginal improvements instead of fine-tuning supply and demand to a perfect 1:1.

CLSA continued to view leading polysilicon companies ( GCL TECH (03800.HK)  -0.020 (-2.222%)    Short selling $10.86M; Ratio 15.082%   and Tongwei (600438.SH)  -0.510 (-2.867%)   ) and leading solar glass companies ( FLAT GLASS (06865.HK)  -0.150 (-1.625%)    Short selling $1.30M; Ratio 10.568%   and XINYI SOLAR (00968.HK)  -0.060 (-2.290%)    Short selling $12.42M; Ratio 29.455%   ) as potential key beneficiaries of supply-side reforms in the solar sector as they will benefit from higher industry consolidation and a steeper cost curve.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-15 12:25.) (A Shares quote is delayed for at least 15 mins.)