PRESS DIGEST - Hong Kong - Aug 10

HONG KONG Aug 10 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

SOUTH CHINA MORNING POST

-- Shanghai-based Green Power Equipment (China), which sells boilers and heat-transfer products to power generation industries, plans to raise up to HK$1 billion (US$129 million) in a Hong Kong initial public offerings in late September or early October and Morgan Stanly is the sole adviser for the company, sources said.

-- Cheung Kong (0001.HK), which is expected to show improvement in underlying earnings from property development, is expected to report a decline in interim earnings because of disappointing earnings from associate Hutchison Whampoa (0013.HK), according to analysts.

HONG KONG ECONOMIC TIMES -- Harbin Power Equipment (1133.HK) posted a 61.38 percent year-on-year drop in first-half profit to 215.53 million yuan ($31.55 million) on an increase in the cost of products, a decrease in gross profit margin, and an increase in provisions for impairment losses on assets.

MING PAO

-- Tracking China Mobile (0941.HK), CNOOC (0883.HK) could be the second Hong Kong-listed mainland company to return to the A-share market, having appointed CICC, Goldman Sachs and CITIC Securities to handle the deal, according to media reports.

HONG KONG ECONOMIC JOURNAL

-- Hang Seng Bank (0011.HK) expects contributions from China to account for 15 percent of its earnings in five years up from about 11.7 percent, according to chief executive Margaret Leung.

APPLE DAILY

-- China Agri-Industries Holdings (0606.HK) said it expected to see an 40 percent year-on-year decline in interim earnings amid a sharp fall in gross profit of its oilseeds processing business.

-- Li & Fung (0494.HK) is expected to post slower growth of a rise of between 5 and 14 percent in first-half profit on a profit-margin decrease and a drop in orders, with growth for this year to rely on acquisitions and cost cutting, analysts said. The company is due to release its interim earnings on Thursday.

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