Burning Rock Biotech Ltd. amendment to a Schedule 13G/A reports beneficial ownership disclosures by CRCM-related reporting persons, showing shared dispositive power over certain American Depository Shares (each ADS = ten Class A Ordinary Shares). The cover rows list holdings of 275,025 shares and 282,097 shares, representing 3.1% and 3.2% of Class A Ordinary Shares, respectively, based on 88,138,581 shares outstanding as of March 31, 2026.
Positive
None.
Negative
None.
Insights
CRCM entities report passive ownership positions near 3% each.
The filing amends prior Schedule 13G details by specifying shared voting and dispositive power for CRCM Institutional Master Fund (BVI), CRCM LP/LLC, and Chun R. Ding over ADS interests, with holdings shown as 275,025 and 282,097 ordinary-share equivalents.
These stakes are reported as below 5 percent and labeled "Ownership of 5 Percent or Less of a Class," indicating passive investor status; disclosure aligns with beneficial‑ownership rules rather than an active control claim.
Filing clarifies attribution across fund, manager, general partner, and individual.
The cover-page notes and Item 2 text tie the reported ADS positions to the CRCM Master Fund, the Investment Manager, the General Partner, and Mr. Ding, while each disclaims direct beneficial ownership.
Investors should note the filing ties percentages to the 88,138,581 shares outstanding as of March 31, 2026; no transaction activity, proceeds, or change-of-control language is disclosed in the excerpt.
Key Figures
Shares outstanding (Class A):88,138,581 sharesCRCM Institutional Master Fund holding:275,025 sharesCRCM LP/CRCM LLC/Ding holding:282,097 shares+2 more
5 metrics
Shares outstanding (Class A)88,138,581 sharesas of March 31, 2026
CRCM Institutional Master Fund holding275,025 sharesADS-equivalent holding reported on cover row
CRCM LP/CRCM LLC/Ding holding282,097 sharesADS-equivalent holding reported on cover rows
Percentage ownership (275,025)3.1%based on 88,138,581 shares outstanding as of March 31, 2026
Percentage ownership (282,097)3.2%based on 88,138,581 shares outstanding as of March 31, 2026
"American Depository Shares ("ADSs") of the Issuer, each ADS representing ten Class A Ordinary Shares"
Schedule 13G/Aregulatory
"amendment to a Schedule 13G/A reports beneficial ownership disclosures"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Shared Dispositive Powerregulatory
"Shared Dispositive Power 275,025.00"
Beneficially ownedregulatory
"Amount beneficially owned: The information required by Items 4(a) - (c) is set forth in Rows 5 through 11"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
What stake does CRCM report in Burning Rock Biotech (BNR)?
CRCM-related filers report shared dispositive power over ADS equivalents of 275,025 and 282,097 Class A Ordinary Shares. Those holdings are shown as approximately 3.1% and 3.2% of Class A shares based on the issuer's March 31, 2026 outstanding count.
How is an ADS defined in this filing for BNR?
The filing states one ADS represents ten Class A Ordinary Shares with par value $0.0002 per share. This conversion underlies the reported share equivalents and the percentage calculations versus the stated outstanding share count.
Which entities and individuals are named as reporting persons?
The reporting persons are CRCM Institutional Master Fund (BVI), CRCM LP (Investment Manager), CRCM LLC (General Partner), and Chun R. Ding, each linked to the same reported ADS positions and the shared dispositive power described in Item 2.
What outstanding share count does the filing use to compute percentages?
Percentages are calculated using an stated baseline of 88,138,581 Class A Ordinary Shares outstanding as of March 31, 2026, per a referenced annual report on Form 20-F filed by the issuer on April 28, 2026.
Does this Schedule 13G/A indicate active control or voting changes at Burning Rock?
The document classifies the positions under "Ownership of 5 Percent or Less of a Class," showing passive disclosure. It reports shared voting/dispositive power but does not assert takeover, control actions, or transactions in the provided excerpt.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Burning Rock Biotech Ltd.
(Name of Issuer)
American Depository Shares ("ADSs") of the Issuer, each ADS representing ten Class A Ordinary Shares, par value $0.0002 per share.
(Title of Class of Securities)
12233L206
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
12233L206
1
Names of Reporting Persons
CRCM INSTITUTIONAL MASTER FUND (BVI), LTD.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
VIRGIN ISLANDS, BRITISH
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
275,025.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
275,025.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
275,025.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.1 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Note to Row 6: Each ADS represents ten (10) Class A Ordinary Shares, par value $0.0002 per share.
Note to Row 11: Based on 88,138,581 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2026, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 28, 2026.
SCHEDULE 13G
CUSIP Number(s):
12233L206
1
Names of Reporting Persons
CRCM LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
282,097.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
282,097.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
282,097.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.2 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: Note to Row 6: Each ADS represents ten (10) Class A Ordinary Shares, par value $0.0002 per share.
Note to Row 11: Based on 88,138,581 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2026, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 28, 2026.
SCHEDULE 13G
CUSIP Number(s):
12233L206
1
Names of Reporting Persons
CRCM LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
282,097.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
282,097.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
282,097.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.2 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Note to Row 6: Each ADS represents ten (10) Class A Ordinary Shares, par value $0.0002 per share.
Note to Row 11: Based on 88,138,581 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2026, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 28, 2026.
SCHEDULE 13G
CUSIP Number(s):
12233L206
1
Names of Reporting Persons
Ding Chun R
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SAINT KITTS AND NEVIS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
282,097.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
282,097.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
282,097.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.2 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Note to Row 6: Each ADS represents ten (10) Class A Ordinary Shares, par value $0.0002 per share.
Note to Row 11: Based on 88,138,581 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2026, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 28, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Burning Rock Biotech Ltd.
(b)
Address of issuer's principal executive offices:
No.5 Xingdao Ring Road North, International Bio Island, Guangzhou, China, 510005
Item 2.
(a)
Name of person filing:
(i) CRCM Institutional Master Fund (BVI), Ltd., a British Virgin Islands limited company ("CRCM Master Fund");
(ii) CRCM LP, a Delaware limited partnership and the investment manager ("Investment Manager") of CRCM Master Fund and separately managed account clients (the "Managed Accounts");
(iii) CRCM LLC, a Delaware limited liability company and the general partner (the "General Partner") of the Investment Manager, with respect to the shares held by the CRCM Master Fund and the Managed Accounts; and
(iv) Chun R. Ding ("Ding"), is a citizen of St. Kits and Nevis and the managing partner of the Investment Manager, the manager of the General Partner, with respect to the shares held by the CRCM Master Fund and the Managed Accounts.
(b)
Address or principal business office or, if none, residence:
The address of the principal business of (i) CRCM Master Fund (c/o CRCM) is 475 Sansome Street, Suite 730, San Francisco, CA 94111; (ii-iv) the Investment Manager, the General Partner, and Mr. Ding (c/o CRCM) is 475 Sansome Street, Suite 730, San Francisco, CA 94111.
(c)
Citizenship:
The citizenship of each Reporting Person is set forth above.
(d)
Title of class of securities:
American Depository Shares ("ADSs") of the Issuer, each ADS representing ten Class A Ordinary Shares, par value $0.0002 per share.
(e)
CUSIP No.:
12233L206
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Items 4(a) - (c) is set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
(b)
Percent of class:
The ADSs reported hereby for the CRCM Master Fund are owned directly by the fund. The Investment Manager, as investment manager of the CRCM Master Fund and the Managed Accounts, may be deemed to be the beneficial owner of all such ADSs owned by the CRCM Master Fund and the Managed Accounts. The General Partner, as general partner of the Investment Manager, may be deemed to be the beneficial owner of all of such ADSs owned by the CRCM Master Fund and the Managed Accounts. Mr. Ding, as managing partner of the Investment Manager, and manager of the General Partner with the power to exercise investment discretion, may be deemed to be the beneficial owner of all such ADSs owned by the CRCM Master Fund and the Managed Accounts. Each of the Investment Manager, the General Partner and Mr. Ding hereby disclaims any beneficial ownership of any such ADSs.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Items 4(a) - (c) is set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
(ii) Shared power to vote or to direct the vote:
The information required by Items 4(a) - (c) is set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Items 4(a) - (c) is set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Items 4(a) - (c) is set forth in Rows 5 through 11 of the cover page for each Reporting Person is incorporated herein by reference for each such Reporting Person.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
