BeyondSpring Inc. received an amended Schedule 13G from Decheng Capital-affiliated funds and Dr. Xiangmin Cui reporting their passive ownership of the company’s ordinary shares. The filing reflects positions as of December 31, 2025.
The group reports beneficial ownership of 3,800,702 ordinary shares by Dr. Cui, representing 9.2% of the outstanding class, held through Decheng Capital China Life Sciences USD Fund II, Fund III and Decheng Capital Global Healthcare Fund. The percentage is based on 41,122,320 ordinary shares outstanding as of November 18, 2025. The signatories certify the shares are not held for the purpose of changing or influencing control of BeyondSpring.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
BEYONDSPRING INC.
(Name of Issuer)
Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G10830100
(CUSIP Number)
12/31/2025
(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)
SCHEDULE 13G
CUSIP No.
G10830100
1
Names of Reporting Persons
Decheng Capital Management III (Cayman), 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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,448,293.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,448,293.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,448,293.00
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)
3.5 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
G10830100
1
Names of Reporting Persons
Decheng Capital China Life Sciences USD Fund III, L.P.
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,448,293.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,448,293.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,448,293.00
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)
3.5 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
G10830100
1
Names of Reporting Persons
Decheng Capital China Life Sciences USD Fund II, L.P.
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,617,409.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,617,409.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,617,409.00
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)
3.9 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
G10830100
1
Names of Reporting Persons
Decheng Capital Management II (Cayman), 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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,617,409.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,617,409.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,617,409.00
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)
3.9 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
G10830100
1
Names of Reporting Persons
Decheng Capital Global Healthcare Fund (Master), 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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
735,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
735,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
735,000.00
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)
1.8 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
G10830100
1
Names of Reporting Persons
Decheng Capital Global Healthcare GP, 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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
735,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
735,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
735,000.00
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)
1.8 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
G10830100
1
Names of Reporting Persons
Xiangmin Cui
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,800,702.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,800,702.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,800,702.00
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)
9.2 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
BEYONDSPRING INC.
(b)
Address of issuer's principal executive offices:
100 Campus Drive, West Side, 4th Floor, Suite 410, Florham Park, NJ, 07932.
Item 2.
(a)
Name of person filing:
Decheng Capital China Life Sciences USD Fund II, L.P. ("Fund II")
Decheng Capital Management II (Cayman), LLC ("GP II")
Decheng Capital China Life Sciences USD Fund III, L.P. ("Fund III")
Decheng Capital Management III (Cayman), LLC ("GP III")
Decheng Capital Global Healthcare Fund (Master), LP ("Healthcare")
Decheng Capital Global Healthcare GP, LLC ("Healthcare GP")
Xiangmin Cui ("Dr. Cui")
(b)
Address or principal business office or, if none, residence:
c/o Decheng Capital
3000 Sand Hill Road, Building 2, Suite 110
Menlo Park, CA 94025
(c)
Citizenship:
Fund II Cayman Islands
GP II Cayman Islands
Fund III Cayman Islands
GP III Cayman Islands
Healthcare Cayman Islands
Healthcare GP Cayman Islands
Dr. Cui United States
(d)
Title of class of securities:
Ordinary Shares, par value $0.0001 per share
(e)
CUSIP No.:
G10830100
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:
Row 9 of each Reporting Person's cover page to this Schedule 13G/A sets forth the aggregate number of ordinary shares of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
The Reporting Persons' ownership of the Issuer's securities consists of (i) 1,448,293 ordinary shares held directly by Fund IIII; (ii) 1,617,409 ordinary shares held directly by Fund II; and (iii) 735,000 ordinary shares held directly by Healthcare.
GP II is the general partner of Fund II and shares voting and investment authority over the shares held by Fund II. GP III is the general partner of Fund III and shares voting and investment authority over the shares held by Fund III. Healthcare GP is the general partner of Healthcare and shares voting and investment authority over the shares held by Healthcare. Dr. Cui is the sole manager of each of GP II and GP III and the indirect managing member and ultimate beneficial owner of Healthcare GP. Dr. Cui shares voting and investment authority over the shares held by each of Fund II, Fund III and Healthcare.
(b)
Percent of class:
Row 11 of each Reporting Person's cover page to this Schedule 13G/A sets forth the percentages of the ordinary shares of the Issuer beneficially owned by such Reporting Person as of December 31, 2025, and is incorporated by reference. The percentage set forth in each row 11 is based upon 41,122,320 ordinary shares outstanding as of November 18, 2025, as reported in the Issuer's prospectus supplement dated November 17, 2025 filed with the Securities and Exchange Commission (the "SEC") on November 17, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Row 5 of each Reporting Person's cover page to this Schedule 13G/A sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
(ii) Shared power to vote or to direct the vote:
Row 6 of each Reporting Person's cover page to this Schedule 13G/A sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
(iii) Sole power to dispose or to direct the disposition of:
Row 7 of each Reporting Person's cover page to this Schedule 13G/A sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
(iv) Shared power to dispose or to direct the disposition of:
Row 8 of each Reporting Person's cover page to this Schedule 13G/A sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of December 31, 2025 and is incorporated by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
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.
Decheng Capital Management III (Cayman), LLC
Signature:
/s/ Xiangmin Cui
Name/Title:
By Xiangmin Cui, Manager
Date:
02/13/2026
Decheng Capital China Life Sciences USD Fund III, L.P.
Signature:
/s/ Xiangmin Cui
Name/Title:
By Decheng Capital Management III (Cayman), LLC, its General Partner, by Xiangmin Cui, Manager
Date:
02/13/2026
Decheng Capital China Life Sciences USD Fund II, L.P.
Signature:
/s/ Xiangmin Cui
Name/Title:
By Decheng Capital Management II (Cayman), LLC, its General Partner, by Xiangmin Cui, Manager
Date:
02/13/2026
Decheng Capital Management II (Cayman), LLC
Signature:
/s/ Xiangmin Cui
Name/Title:
By Xiangmin Cui, Manager
Date:
02/13/2026
Decheng Capital Global Healthcare Fund (Master), LP
Signature:
/s/ Xiangmin Cui
Name/Title:
By Decheng Capital Global Healthcare GP, LLC, its General Partner, By Decheng Capital LLC, its Manager, by Xiangmin Cui, Manager
Date:
02/13/2026
Decheng Capital Global Healthcare GP, LLC
Signature:
/s/ Xiangmin Cui
Name/Title:
By Decheng Capital LLC, its Manager, by Xiangmin Cui, Manager
Date:
02/13/2026
Xiangmin Cui
Signature:
/s/ Xiangmin Cui
Name/Title:
Xiangmin Cui
Date:
02/13/2026
Exhibit Information
Exhibit 99.1 Joint Filing Agreement, dated as of November 14, 2024, (incorporated by reference to Exhibit A to the Reporting Persons' Schedule 13G filed with the SEC on November 14, 2024).
