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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
</B></FONT><B><FONT STYLE="font-size: 10pt">WASHINGTON, D.C. 20549</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of Earliest event Reported):
August 28, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>CHINA PRECISION
STEEL, INC.<BR>
</B></FONT><FONT STYLE="font-size: 10pt"><I>(Exact name of registrant as specified in its charter)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 34%; font-weight: bold; text-align: center">000-23039</TD>
    <TD STYLE="width: 33%; font-weight: bold; text-align: center">14-1623047</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-style: italic; text-align: center">(State or other jurisdiction of</TD>
    <TD STYLE="font-style: italic; text-align: center">(Commission File Number)</TD>
    <TD STYLE="font-style: italic; text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-style: italic; text-align: center">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18th Floor, Teda Building</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>87 Wing Lok Street, Sheungwan, Hong Kong</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Special Administrative Region of the
People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of principal executive offices)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>+852-2543-2290<BR>
</B><I>(Registrant's telephone number, including area code)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>N/A<BR>
</B><I>(Former name or former address, if changed since last report)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<U>see </U>General Instruction A.2. below): </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings">&uml;</TD>
    <TD STYLE="width: 96%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Wingdings">&uml;</TD>
    <TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d - 2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Wingdings">&uml;</TD>
    <TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e - 4(c))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 5.03.</B>&nbsp; <B>AMENDMENTS TO ARTICLES OF INCORPORATION
OR BYLAWS; CHANGE IN FISCAL YEAR.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 27, 2012, China Precision Steel,&nbsp;Inc. (the &ldquo;Company&rdquo;)
filed an Amendment to its Certificate of Incorporation (the &ldquo;Amendment&rdquo;) to effect a reverse stock split of its common
stock with a ratio of one post-split share for every 12 shares issued and outstanding on that date (the &ldquo;Reverse Split&rdquo;).&nbsp;
The stockholders of the Company approved the authority of the Company&rsquo;s Board of Directors to effect the Reverse Split at
the Annual Meeting of Stockholders held on June 29, 2012, as previously disclosed in the Company&rsquo;s Current Report on Form&nbsp;8-K
filed on July 3, 2012. A copy of the Amendment is attached hereto as Exhibit&nbsp;3.1 and is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Reverse Split became effective on August 27, 2012.&nbsp;
Immediately prior to the Reverse stock Split, the Company had 46,562,955 shares of its common stock issued and outstanding.&nbsp;
As a result of the Reverse Split, the issued and outstanding shares of the Company&rsquo;s common stock automatically decreased
to 3,880,247 shares, without any change in the par value of such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s common stock will continue to be traded
on the NASDAQ Capital Market under the symbol &ldquo;CPSL&rdquo; and commenced trading on a post-split basis when markets opened
on August&nbsp;28, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 7.01 REGULATION FD DISCLOSURE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 29, 2012, the Company issued a press release announcing
the reverse stock split. The press release is incorporated herein by reference and is attached hereto as Exhibit&nbsp;99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information contained in this Current Report on Form 8-K
and the exhibits attached hereto shall not be deemed to be &ldquo;filed&rdquo; for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (&ldquo;Exchange Act&rdquo;), or otherwise subject to the liabilities of that section, nor shall such
information or such exhibits be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 9.01.&nbsp; FINANCIAL STATEMENTS AND EXHIBITS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-indent: -2.85pt"><B>&nbsp;</B>&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 3%; vertical-align: top; text-align: right">(d)</TD>
    <TD STYLE="width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 96%; vertical-align: top">Exhibits</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">3.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Certificate of Amendment, effective August&nbsp;27, 2012</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">99.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Press Release, dated August&nbsp;29, 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.85pt; text-indent: -2.85pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Dated: August 29, 2012</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">CHINA PRECISION STEEL, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ Leada Tak Tai Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Leada Tak Tai Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 7%; border-bottom: windowtext 1pt solid; font-weight: bold">EXHIBIT<BR> NUMBER</TD>
    <TD STYLE="width: 1%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 92%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">DESCRIPTION</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">3.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Certificate of Amendment, effective August&nbsp;27, 2012</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">99.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Press Release, dated August&nbsp;29, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v322614_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 17433}]
{"company-data": {"conformed-name": "China Precision Steel, Inc.", "cik": "0001044577", "assigned-sic": "3312", "irs-number": "141623047", "state-of-incorporation": "CO", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23039", "film-number": "121061645"}, "business-address": {"street1": "8TH FLOOR, TEDA BUILDING", "street2": "87 WING LOK STREET, SHEUNGWAN", "city": "HONG KONG", "state": "K3", "zip": "000", "phone": "86 21 5994 8500"}, "mail-address": {"street1": "8TH FLOOR, TEDA BUILDING", "street2": "87 WING LOK STREET, SHEUNGWAN", "city": "HONG KONG", "state": "K3", "zip": "000"}, "former-company": {"former-conformed-name": "ORALABS HOLDING CORP", "date-changed": "19970815"}}
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest event Reported):
August 28, 2012
CHINA PRECISION
STEEL, INC.
(Exact name of registrant as specified in its charter)
Delaware
000-23039
14-1623047
(State or other jurisdiction of
(Commission File Number)
(IRS Employer Identification No.)
incorporation or organization)
18th Floor, Teda Building
87 Wing Lok Street, Sheungwan, Hong Kong
Special Administrative Region of the
People's Republic of China
(Address of principal executive offices)
+852-2543-2290
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d - 2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e - 4(c))
ITEM 5.03.
AMENDMENTS TO ARTICLES OF INCORPORATION
OR BYLAWS; CHANGE IN FISCAL YEAR.
On August 27, 2012, China Precision Steel, Inc. (the "Company")
filed an Amendment to its Certificate of Incorporation (the "Amendment") to effect a reverse stock split of its common
stock with a ratio of one post-split share for every 12 shares issued and outstanding on that date (the "Reverse Split"). 
The stockholders of the Company approved the authority of the Company's Board of Directors to effect the Reverse Split at
the Annual Meeting of Stockholders held on June 29, 2012, as previously disclosed in the Company's Current Report on Form 8-K
filed on July 3, 2012. A copy of the Amendment is attached hereto as Exhibit 3.1 and is incorporated herein by reference.
The Reverse Split became effective on August 27, 2012. 
Immediately prior to the Reverse stock Split, the Company had 46,562,955 shares of its common stock issued and outstanding. 
As a result of the Reverse Split, the issued and outstanding shares of the Company's common stock automatically decreased
to 3,880,247 shares, without any change in the par value of such shares.
The Company's common stock will continue to be traded
on the NASDAQ Capital Market under the symbol "CPSL" and commenced trading on a post-split basis when markets opened
on August 28, 2012.
ITEM 7.01 REGULATION FD DISCLOSURE.
On August 29, 2012, the Company issued a press release announcing
the reverse stock split. The press release is incorporated herein by reference and is attached hereto as Exhibit 99.1.
The information contained in this Current Report on Form 8-K
and the exhibits attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange
Act of 1934, as amended ("Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such
information or such exhibits be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.
(d)
Exhibits
3.1
Certificate of Amendment, effective August 27, 2012
99.1
Press Release, dated August 29, 2012.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 29, 2012
CHINA PRECISION STEEL, INC.
By:
/s/ Leada Tak Tai Li
Leada Tak Tai Li
Chief Financial Officer
3
EXHIBIT INDEX
EXHIBIT
NUMBER
DESCRIPTION
3.1
Certificate of Amendment, effective August 27, 2012
99.1
Press Release, dated August 29, 2012
4