Yeah, I’m gonna have to side with Citizen Lab on this one. I imagine they have more expertise in this area than the IOC.
“The IOC has a responsibility to ensure user privacy and security is protected for any applications and systems used during the Olympic Games. The IOC’s comments suggest that rather than taking that responsibility seriously, they are in fact hoping to minimize the risks,” said Ron Deibert, director of Citizen Lab.
Here’s there original report:
“…the app is owned by a state-owned company called Beijing Financial Holdings Group.”
It’s interesting that this app didn’t raise any security/privacy red flags with Google and Apple. 
So either it’s innocuous, or the supposedly most secure app stores (as they like to say) don’t do a great job at security.