FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Wan Hung   2. Issuer Name and Ticker or Trading Symbol China Precision Steel, Inc. [CPSL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) SUITE C, 20/F NEICH TOWER,, 128 GLOUCESTER ROAD 3. Date of Earliest Transaction (Month/Day/Year) 10/22/2007 (Street) WAN CHAI, K3  4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/22/2007   S   15,000 (1) D $ 9 1,752,822 (1) I By Belmont Capital Group Limited Common Stock 10/23/2007   S   5,000 (1) D $ 10.1 1,747,822 (1) I By Belmont Capital Group Limited Common Stock               1,498,615 (1) I By Advanz Capital, Inc.

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Warrant

$ 3

02/21/2007

02/21/2010

Common Stock

666,667 (1) (2)

666,667 (1)

I

By Belmont Capital Group Limited

Warrant

$ 3

02/21/2007

02/21/2010

Common Stock

316,696 (1) (3)

316,696 (1)

I

By Belmont Capital Group Limited

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Wan Hung SUITE C, 20/F NEICH TOWER, 128 GLOUCESTER ROAD WAN CHAI, K3		X

Signatures

/s/ Hung Wan		10/24/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Reporting Person disclaims beneficial ownership of all securities held by Belmont Capital Group Limited and Advanz Capital, Inc., as reported on this form, except to the extent of her pecuniary interest, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
(2)	On February 22, 2007, the Issuer issued warrants to purchase up to 666,667 shares of Common Stock to Belmont Capital Group Limited, with respect to which the Reporting Person is the Principal and Managing Director, as partial compensation for services rendered in connection with the Issuer's reverse merger in December 2006 with Partner Success Holdings Limited.
(3)	On February 22, 2007, the Issuer issued warrants to purchase up to 316,696 shares of its Common Stock to the Belmont Capital Group Limited, with respect to which the Reporting Person is the Principal and Managing Director, as partial compensation for services rendered in connection with the Issuer's private placement of its securities in February 2007.

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