Decheng Capital reports sale of 7,665 BYSI shares in early Oct 2025

Rhea-AI Filing Summary

Decheng Capital reporting persons, including funds managed by Dr. Xiangmin Cui, disclosed insider sales of 7,665 BeyondSpring Inc. (BYSI) ordinary shares across three days. The filings show 4,464 shares sold on 09/30/2025 at a weighted average price of about $1.81, 2,601 shares sold on 10/01/2025 at about $1.80, and 600 shares sold on 10/02/2025 at about $1.73. After the reported transactions, Decheng Capital China Life Sciences USD Fund III, L.P. is shown as beneficially owning approximately 1,838,096–1,841,297 shares (per line entries), while affiliated funds report holdings of 1,617,409 and 891,734 shares respectively. The footnotes state the prices are weighted averages within disclosed ranges and confirm the reporting chain through GP entities managed by Dr. Cui.

Positive

• Timely disclosure with a signed Form 4 filed and dated 10/02/2025
• Detailed pricing transparency via footnotes disclosing weighted average ranges and willingness to provide per‑trade detail

Negative

• Insider selling of 7,665 shares across 09/30/2025–10/02/2025
• Reduction in Fund III's reported holdings from line entries reflecting 1,841,297 to about 1,838,096 shares following sales

Insights

Corporate Governance Specialist

TL;DR: Insider sales by affiliated funds total 7,665 shares over three days; filings list indirect ownership across multiple funds.

The Form 4 shows sales executed by Decheng-related funds on 09/30/2025, 10/01/2025, and 10/02/2025, with weighted average prices reported between $1.72 and $1.83. The disclosure explicitly links ownership to Fund III, Fund II, and Healthcare vehicles and identifies Decheng Capital Management entities and Dr. Cui as the managing persons.

This filing is investor‑relevant because it clarifies the chain of beneficial ownership and the continuing indirect holdings of sizable share blocks in BeyondSpring.

Equity Trading & Disclosure Analyst

TL;DR: Reported trades total 7,665 shares executed at disclosed weighted average prices within narrow ranges.

The transactions are marked with transaction code S (sale) and include footnotes specifying price ranges: $1.80–$1.83, $1.785–$1.81, and $1.72–$1.74; the filer offers to provide per‑trade detail on request. The Form 4 is signed and dated 10/02/2025, indicating timely reporting of the disposals.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Decheng Capital China Life Sciences USD Fund III, L.P.

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BeyondSpring Inc. [ BYSI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares	09/30/2025		S		4,464	D	$1.81(1)	1,841,297	I	By Decheng Capital China Life Sciences USD Fund III, L.P.(2)
Ordinary Shares	10/01/2025		S		2,601	D	$1.8(3)	1,838,696	I	By Decheng Capital China Life Sciences USD Fund III, L.P.(2)
Ordinary Shares	10/02/2025		S		600	D	$1.73(4)	1,838,096	I	By Decheng Capital China Life Sciences USD Fund III, L.P.(2)
Ordinary Shares								1,617,409	I	By Decheng Capital China Life Sciences USD Fund II, L.P.(5)
Ordinary Shares								891,734	I	By Decheng Capital Global Healthcare Fund (Master), LP(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Decheng Capital China Life Sciences USD Fund III, L.P.

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Decheng Capital Management III (Cayman), LLC

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Decheng Capital China Life Sciences USD Fund II, L.P.

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Decheng Capital Management II (Cayman), LLC

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Decheng Capital Global Healthcare Fund (Master), LP

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Decheng Capital Global Healthcare GP, LLC

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Cui Xiangmin

(Last) (First) (Middle)

C/O DECHENG CAPITAL

3000 SAND HILL ROAD, BLDG. 2, SUITE 110

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.80 to $1.83 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. These securities are held directly by Decheng Capital China Life Sciences USD Fund III, L.P. ("Fund III"). Decheng Capital Management III (Cayman), LLC ("GP III") is the general partner of Fund III. Dr. Cui is the manager of GP III. Each of Fund III, GP III and Dr. Cui may be deemed to beneficially own the securities held by Fund III. Each of GP III and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.785 to $1.81 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.72 to $1.74 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. These securities are held directly by Decheng Capital China Life Sciences USD Fund II, L.P. ("Fund II"). Decheng Capital Management II (Cayman), LLC ("GP II") is the general partner of Fund II. Dr. Cui is the manager of GP II. Each of Fund II, GP II and Dr. Cui may be deemed to beneficially own the securities held by Fund II. Each of GP II and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.

6. These securities are held directly by Decheng Capital Global Healthcare Fund (Master), LP ("Healthcare"). Decheng Capital Global Healthcare GP, LLC ("Healthcare GP") is the general partner of Healthcare. Dr. Cui is the manager of Healthcare GP. Each of Healthcare GP and Dr. Cui may be deemed to beneficially own the securities held by Healthcare. Each of Healthcare GP and Dr. Cui disclaims beneficial ownership of these securities, except to the extent of its or his proportionate pecuniary interest therein.

	Decheng Capital China Life Sciences USD Fund III, L.P., By Decheng Capital Management III (Cayman), LLC, its General Partner, By /s/ Xiangmin Cui, Manager	10/02/2025
	Decheng Capital Management III (Cayman), LLC, By /s/Xiangmin Cui, Manager	10/02/2025
	Decheng Capital China Life Sciences USD Fund II, L.P., By Decheng Capital Management II (Cayman), LLC, its General Partner, By /s/ Xiangmin Cui, Manager	10/02/2025
	Decheng Capital Management II (Cayman), LLC, By /s/ Xiangmin Cui, Manager	10/02/2025
	Decheng Capital Global Healthcare Fund (Master), LP, By Decheng Capital Global Healthcare GP, LLC, its General Partner, By Decheng Capital LLC, its Manager, By /s/ Xiangmin Cui, Manager	10/02/2025
	Decheng Capital Global Healthcare GP, LLC, By Decheng Capital LLC, its Manager, By /s/ Xiangmin Cui, Manager	10/02/2025
	/s/ Xiangmin Cui	10/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Decheng Capital report on BeyondSpring (BYSI)?

Decheng Capital reported sales totaling 7,665 ordinary shares of BeyondSpring executed on 09/30/2025, 10/01/2025, and 10/02/2025.

At what prices were the BYSI shares sold?

The Form 4 reports weighted average prices with ranges of approximately $1.80–$1.83, $1.785–$1.81, and $1.72–$1.74 for the respective transactions.

How many BYSI shares do Decheng funds still report owning?

Post‑transaction entries show Decheng Fund III holding about 1,838,096–1,841,297 shares, Fund II holding 1,617,409, and the Healthcare fund holding 891,734 shares (per filing lines).

Who is the reporting individual tied to these filings?

The filings identify Dr. Xiangmin Cui as manager of the relevant GP entities and signer of the Form 4s dated 10/02/2025.

Are these sales fully disclosed and documented?

Yes; the Form 4 includes transaction codes, weighted average price footnotes, beneficial ownership breakdowns, and signed certifications dated 10/02/2025.