SHANGHAI, Aug 7 (Reuters) - Stands at Shanghai's Grand Prix circuit damaged by a fierce storm last week may not be repaired in time for the Formula One race in October, according to track officials.

On Friday, winds gusting over 130-kph (80-mph) ripped off guard rails and brought down four stands at the 200,000 capacity Shanghai International Circuit, the Shanghai Daily said on Tuesday, citing a local newspaper.

"We may not repair the damaged stands this year as dismantling the seats, clearing debris and rebuilding work all require time," the paper quoted Wang Ying, the circuit's deputy general manager, as saying.

"Even if we finish before the Chinese Grand Prix, we may still be short of time to carry out safety tests on the repair work," Wang said, adding that repair work would not affect ticket prices and that ticket holders for affected areas would be accommodated in other areas of the track.

It was not clear from the report how many seats could be affected by the damage to the stands at the circuit which will host the penultimate race of the Formula One world championship on Oct. 7.

On Monday, the company denied that lightweight alloys not tough enough to withstand strong winds were used in the stands' construction, the paper said.

The storm is the latest setback for the $350-million track's management company, which has been embroiled in scandal after its flamboyant chief, Yu Zhifei, was sacked for graft in May.