Fu Chenghao/Shanghai Daily news

Concerns over the possibility of more poor third-quarter results weighed on Shanghai shares yesterday with blue chips being particularly hard hit.
The Shanghai Composite Index, which covers yuan-denominated A shares and foreign-currency B shares, dipped 0.72 percent to 1,131.38. The A-share Index shed 0.72 percent to 1,188.72 while the B-share Index lost 0.74 percent to 65.36.
"A bad sentiment hung over the market on concerns that more poor corporate earnings will be released in the next few days," said Lin Xuenong, an analyst at Huaxia Securities Co.
Shanghai Airlines Co dived 5.97 percent to close at 3.15 yuan (39 US cents) after warning its net profit may plunge more than 50 percent in the first nine months from a year earlier.
The airline is among some 50 companies on the country's two stock bourses that predicted lower profits or losses for the third quarter yesterday. In comparison, only around 10 firms expected better earnings.
China Petroleum & Chemical Corp slid 2.77 percent to 3.86 yuan while Baoshan Iron & Steel lost 2.38 percent to 4.10 yuan after institutional investors took profit among market heavyweights.
At the same time, Henan Zhongyuan Expressway Co tumbled 7.08 percent to 6.30 yuan though the toll-road operator said it planned to invest 1.5 billion yuan in a highway project over the next three years.
Meanwhile, China's state-share sale program made major progress yesterday as the fifth batch of 21 companies including Shenzhen-listed Angang New Steel Co and Chongqing Minfeng Agrochem Co started their disposal of state holdings.
Angang, which has Hong Kong-listed H shares, and ST (special treatment) company Minfeng are both the first of their kind to be involved in the share sale program. ST firms refer to those which have lost money for two consecutive years.
Minfeng said that it will offer 1.5 shares to minority shareholders for every 10 held and improve corporate finance through asset restructuring, while Angang has yet to unveil its detailed compensation plan.
Regulators have said owners of B and H shares wouldn't be automatically compensated as both equities are already fully tradable.