GCL TECH (03800.HK) -0.020 (-1.653%) Short selling $27.50M; Ratio 3.937% 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.Related NewsCiti: Supply-side Reforms Lifts Polysilicon Stocks; Ratings Buy Initiated on GCL TECH/ DAQO New EnergyUnlike 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 (-1.653%) Short selling $27.50M; Ratio 3.937% and Tongwei (600438.SH) +0.130 (+0.639%) ) and leading solar glass companies ( FLAT GLASS (06865.HK) +0.250 (+2.513%) Short selling $5.65M; Ratio 8.282% and XINYI SOLAR (00968.HK) +0.070 (+2.473%) Short selling $38.80M; Ratio 21.316% ) 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 2025-07-21 12:25.) (A Shares quote is delayed for at least 15 mins.)