According to the reports, the Form One student from the New Territories posted his pics on January 23 under the names "Leung Chai" (Little Leung) and "Chui Shui Ho" (Braggy Ho) on the adult forum, KYO!
The student, who claims to be a Christian, wrote that he wanted to make money through sexual services with females between the ages of 10 and 45.
He offered 450 HK dollars to "make love".
The boy also included a breakdown of sexual services he wanted, along with his instant-messaging contact information.
The post has created uproar among netizens.
Following the post, the boy's personal details-including a photo, Hong Kong identity-card number and school details-have been uploaded by Internet users.
Other postings threatened ridicule and repercussions at the boy's school.
However, the school's vice principal said that it was still gathering the particulars of the case, and would cooperate in the probe.
Meanwhile, the boy has replaced the postings, and issued a public apology to his school, appealing to his principal and teachers for a second chance.
He has also apologised to "netizens," assuring to never repeat his behaviour, and appealing for mercy.
Hong Kong Internet Society chairman Charles Mok Nai-kwong said that the incident was similar to the trends emerging in the mainland where Internet users had their identity exposed, which could lead to retaliation.
"What really makes things complicated is that a minor is at the centre of this fiasco, but he should be given a second chance because of his immaturity," the Standard quoted him as saying.
The maximum penalty for posting child pornography on the Internet is eight years in jail, and a fine of two million Hong Kong dollars.
Publishing obscene and indecent articles can lead to a fine of one million HK dollars, and three years in prison.
Soliciting for an immoral purpose carries a penalty of 10,000 HK dollars, and six months in prison. (ANI)