Form 4: Decheng Funds Sell 4,900 BYSI Shares at ~$2; Holdings Still Material
Rhea-AI Filing Summary
Decheng Capital entities and Dr. Cui reported Form 4 transactions in BeyondSpring Inc. (BYSI). On 08/14/2025, Decheng Capital China Life Sciences USD Fund III, L.P. sold 2,000 ordinary shares at a weighted average price of $2.00–$2.01, reducing its reported beneficial ownership to 1,977,072 shares. On 08/15/2025 the same Fund sold 2,900 ordinary shares at a weighted average price of $2.00–$2.01, reducing its reported beneficial ownership to 1,974,172 shares. The filing also discloses indirect beneficial holdings of 1,617,409 shares by Decheng Capital China Life Sciences USD Fund II, L.P. and 891,734 shares by Decheng Capital Global Healthcare Fund (Master), LP. Signatures indicate reporting by fund GPs and Xiangmin Cui.
Positive
- None.
Negative
- None.
Insights
TL;DR: Reported small open-market sales by Decheng funds; overall fund ownership positions remain substantial.
The Form 4 lists two small dispositions by Decheng Capital China Life Sciences USD Fund III totaling 4,900 ordinary shares sold at a weighted average price of $2.00–$2.01 on 08/14–08/15/2025. Post-transaction beneficial holdings for Fund III remain roughly 1.97 million shares. The filing additionally documents indirect holdings of 1,617,409 shares (Fund II) and 891,734 shares (Healthcare). The sizes of the reported sales are modest relative to the disclosed aggregate holdings, suggesting routine liquidity or portfolio rebalancing rather than a change in control or material shift in ownership.
TL;DR: Filings are properly executed and include required attribution and disclaimers; no governance red flags apparent from transactions alone.
The Form 4 includes required footnotes attributing holdings to funds, their general partners, and Dr. Cui with standard disclaimers of beneficial ownership. Weighted-average price disclosures and the offer to provide per-price allocation details comply with transparency expectations. All signatures of the applicable GP entities and Xiangmin Cui are present. The disclosure does not indicate any related-party or acceleration events; it documents routine dispositions by affiliated investment vehicles.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Ordinary Shares | 2,900 | $2.00 | $6K |
| Sale | Ordinary Shares | 2,000 | $2.00 | $4K |
| holding | Ordinary Shares | -- | -- | -- |
| holding | Ordinary Shares | -- | -- | -- |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.00 to $2.01 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 vat each separate price within the range set forth in this footnote. 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.00 to $2.01 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. 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. 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.
