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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C.&nbsp;20549</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of Earliest Event
Reported): February 21, 2012</P>

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

<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHINA PRECISION STEEL, INC.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified
in its charter)</P>

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

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 33%; line-height: 115%; font-size: 10pt; font-weight: bold; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="width: 34%; line-height: 115%; font-size: 10pt; font-weight: bold; text-align: center"><B>000-23039</B></TD>
    <TD STYLE="width: 33%; line-height: 115%; font-size: 10pt; font-weight: bold; text-align: center"><B>14-1623047</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;incorporation or organization)</P></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="line-height: 115%; font-size: 10pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>18th Floor, Teda Building</B></P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices)</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>852-2543-2290</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant's Telephone Number, Including
Area Code)</P>

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

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

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    <TD STYLE="width: 24px; line-height: 115%; font-size: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 24px; line-height: 115%; font-size: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)</TD></TR>
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    <TD STYLE="width: 24px; line-height: 115%; font-size: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))</TD></TR>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; line-height: 115%; font-size: 10pt"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD STYLE="line-height: 115%; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))</TD></TR>
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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><B>ITEM 2.02.&nbsp;&nbsp;&nbsp;RESULTS OF OPERATIONS
AND FINANCIAL CONDITION.</B>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">On February 21, 2012, China Precision Steel, Inc., a Delaware
Corporation (the &quot;Company&quot;) issued a press release announcing its financial results for its fiscal quarter ended December
31, 2011. A copy of the press release is hereby furnished as Exhibit 99.1 and incorporated herein by reference.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">In accordance with General Instruction B.2 of Current Report
on Form 8-K, the information contained in this Report and the exhibit attached hereto shall not be deemed to be &quot;filed&quot;
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), 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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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    <TD STYLE="width: 10%; border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold"><B>Exhibit&nbsp;No.</B></TD>
    <TD STYLE="width: 2%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">99.1</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">Press Release, dated February 21, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
and 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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%; font-weight: bold"><B>CHINA&nbsp;PRECISION&nbsp;STEEL,&nbsp;INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; line-height: 115%">Date: February 21, 2012</TD>
    <TD STYLE="width: 4%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 46%; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">By:&nbsp;</TD>
    <TD STYLE="border-bottom: black 1.5pt solid; line-height: 115%">/s/ Hai Sheng Chen&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">Hai Sheng Chen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>



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

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

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    <TD STYLE="width: 10%; border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold"><B>Exhibit&nbsp;No.</B></TD>
    <TD STYLE="width: 2%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: black 1.5pt solid; line-height: 115%; font-weight: bold"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">99.1</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">Press Release, dated February 21, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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{"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": "12624929"}, "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): February 21, 2012
CHINA PRECISION STEEL, INC.
(Exact name of registrant as specified
in its charter)
Delaware
000-23039
14-1623047
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(IRS Employer Identification No.)
18th Floor, Teda Building
87 Wing Lok Street, Sheungwan, Hong
Kong
People's Republic of China
(Address of Principal Executive Offices)
852-2543-2290
(Registrant's Telephone Number, Including
Area Code)
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.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 2.02.   RESULTS OF OPERATIONS
AND FINANCIAL CONDITION.
On February 21, 2012, China Precision Steel, Inc., a Delaware
Corporation (the "Company") issued a press release announcing its financial results for its fiscal quarter ended December
31, 2011. A copy of the press release is hereby furnished as Exhibit 99.1 and incorporated herein by reference.
In accordance with General Instruction B.2 of Current Report
on Form 8-K, the information contained in this Report and the exhibit attached hereto shall not be deemed to be "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "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.
Exhibit No.
Description
99.1
Press Release, dated February 21, 2012
SIGNATURES
Pursuant to the requirements of the Securities
and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
CHINA PRECISION STEEL, INC.
Date: February 21, 2012
By:
/s/ Hai Sheng Chen
Hai Sheng Chen
Chief Executive Officer
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release, dated February 21, 2012