Burning Rock Biotech Ltd director Zhang Zhihong filed an initial ownership report showing direct holdings of 1,061,990 Ordinary Shares and multiple option awards. These include options over 78,504 and 117,755 Ordinary Shares at an exercise price of $3.33 expiring on September 26, 2032, plus additional options over 51,469, 41,000, and 56,000 shares at an exercise price of $0.0002 expiring between 2033 and 2035. Several grants vest only if Burning Rock’s valuation and the director’s employment and performance conditions are met.
Burning Rock Biotech Ltd filed an initial Form 3 for Hu Xiaozhi, a Senior Director in Finance, detailing existing stock option holdings rather than new market trades. The options give the right to receive one ordinary share per option at exercise prices as low as $0.0002 and $3.33.
The footnotes show these awards vest only if strict conditions are met, including continued employment, annual performance ratings of at least 3.3%, and ambitious company valuation targets of $2 billion, $4 billion, or $10 billion within specified five- or seven-year periods from each grant date.
Burning Rock Biotech Ltd director Xu Licen Lisa filed an initial Form 3 reporting her ownership in the company. The filing shows she directly holds 22,718 Ordinary Shares following the reported position. This is a disclosure of existing holdings and does not reflect any recent share purchase or sale activity.
Burning Rock Biotech reported much narrower losses for 2025 as efficiency improved. Full-year revenue reached RMB539.6 million, up 4.6% from 2024, while gross margin rose to 74.7% from 70.3% as cost of revenues fell 10.9%.
Operating expenses dropped sharply to RMB457.8 million from RMB720.0 million, helped by budget controls and headcount reductions, reducing net loss to RMB55.3 million from RMB346.6 million. In the fourth quarter, revenue was RMB126.3 million, gross margin climbed to 78.0%, and net loss shrank to RMB15.4 million from RMB81.3 million. Cash, cash equivalents and restricted cash totaled RMB481.1 million as of December 31, 2025.
Burning Rock Biotech Limited has furnished a Form 6-K as a foreign private issuer to provide a press release, filed as Exhibit 99.1. The company states that Exhibit 99.1, excluding the sections and table relating to non-GAAP measures, is incorporated by reference into its effective Form F-3 registration statement.