China Precision Steel, Inc. is a steel processing company principally engaged in the manufacture and sale of high precision cold-rolled steel products and in the provision of heat treatment and cutting of medium and high carbon hot-rolled steel strips. The Company conducts its operations principally in China through its wholly owned operating subsidiaries, Shanghai Chengtong Precision Strip Company Limited (Chengtong) and Shanghai Blessford Alloy Company Limited (Shanghai Blessford). The Company produces and sells precision ultra-thin and high strength cold-rolled steel products with thicknesses ranging from 7.5 millimeters to 0.03 millimeters. It also provides heat treatment and cutting and slitting of cold-rolled steel strips not exceeding 7.5 millimeters thickness. Its specialty precision products are mainly used in the manufacture of automobile parts and components, steel roofing, plane friction discs, appliances, food packaging materials and saw blades.