SCHEDULE: CRCM Entities Disclose 5.38% Stake in Burning Rock Biotech
Beneficial Ownership Report
CRCM Institutional Master Fund, CRCM LP, CRCM LLC, and Chun R. Ding have jointly disclosed beneficial ownership of 5.38% of Burning Rock Biotech Ltd.'s American Depository Shares.
Summary
- CRCM Institutional Master Fund (BVI), Ltd., CRCM LP, CRCM LLC, and Chun R. Ding have filed a Schedule 13G, reporting beneficial ownership in Burning Rock Biotech Ltd.
- The filing indicates that CRCM Institutional Master Fund directly owns 465,000 American Depository Shares (ADSs), representing 5.15% of the class.
- CRCM LP, CRCM LLC, and Chun R. Ding are deemed beneficial owners of 486,426 ADSs, which constitutes 5.38% of the class.
- Each ADS represents ten Class A Ordinary Shares, par value $0.0002 per share.
- The percentage of class is calculated based on 90,341,113 Class A Ordinary Shares issued and outstanding as of March 31, 2025, as reported in the Issuer's annual report on Form 20F filed on April 29, 2025.
- The acquisition of these securities was not for the purpose of changing or influencing the control of Burning Rock Biotech Ltd.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership and does not contain performance or operational information to assess sentiment beyond the fact of a significant institutional stake.
Positives
- Disclosure of a significant institutional stake (5.38%) by CRCM entities in Burning Rock Biotech Ltd. may signal institutional confidence in the company.
Negatives
- No specific negative financial or operational information is disclosed in this beneficial ownership filing.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- CRCM LP serves as the investment manager for CRCM Institutional Master Fund (BVI), Ltd. and separately managed account clients.
- CRCM LLC is the general partner of CRCM LP.
- Chun R. Ding is the managing partner of CRCM LP and the manager of CRCM LLC, holding the power to exercise investment discretion over the reported shares.
Stakeholder Impact
- Shareholders: Provides increased transparency regarding significant institutional ownership in Burning Rock Biotech Ltd. The presence of a substantial institutional investor may be viewed positively by some, indicating confidence in the company's prospects.
Key Dates
| Date | Description |
|---|---|
| March 31, 2025 | Date as of which 90,341,113 Class A Ordinary Shares were issued and outstanding, used for percentage calculation. |
| April 29, 2025 | Date Burning Rock Biotech Ltd. filed its annual report on Form 20F, providing the share count. |
| December 16, 2025 | Date of the event which required the filing of this statement. |
| December 19, 2025 | Date the Schedule 13G statement was signed by the reporting persons. |
Keywords
Burning Rock Biotech, CRCM, Schedule 13G, Beneficial Ownership, ADSs, Class A Ordinary Shares, Institutional Investor, Equity Stake
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