# EDGAR Filing Document

**Accession Number:** 0001483234
**File Stem:** 0000898432-25-001050
**Filing Date:** 2025-12
**Character Count:** 18281
**Document Hash:** 2aa474d8f1384c9dffc31c3fb67547bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898432-25-001050.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0000898432-25-001050

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Burning Rock Biotech Ltd
- **CENTRAL INDEX KEY:** 0001792267
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MEDICAL LABORATORIES [8071]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-92114
- **FILM NUMBER:** 251588773

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO. 5 XINGDAO RING ROAD NORTH,
- **STREET 2:** INTERNATIONAL BIO ISLAND
- **CITY:** GUANGZHOU, GUANGDONG
- **PROVINCE COUNTRY:** F4
- **ZIP:** 510005
- **BUSINESS PHONE:** 86 18501641666

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** NO. 5 XINGDAO RING ROAD NORTH,
- **STREET 2:** INTERNATIONAL BIO ISLAND
- **CITY:** GUANGZHOU, GUANGDONG
- **PROVINCE COUNTRY:** F4
- **ZIP:** 510005
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CRCM LP
- **CENTRAL INDEX KEY:** 0001483234

**ORGANIZATION NAME:**
- **EIN:** 743242590
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 475 SANSOME STREET
- **STREET 2:** SUITE 730
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** (415) 578-5700

**MAIL ADDRESS:**
- **STREET 1:** 475 SANSOME STREET
- **STREET 2:** SUITE 730
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

## Ex-1

EXHIBIT 1<br>

to<br>

SCHEDULE 13G<br>

JOINT ACQUISITION STATEMENT

<u>PURSUANT TO SECTION 240.13d-1(k)</u>

&nbsp;&nbsp;&nbsp;&nbsp; The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he, she or it knows or has reason to believe that such information is inaccurate.

Dated: December 19, 2025

---

| |
|:---|
| /s/ Chun R. Ding<br>|
| CRCM LLC,<br> On its own behalf and as the General Partner of<br> CRCM LP,<br> as the Investment Manager of<br> CRCM Institutional Master Fund (BVI), Ltd. |
| /s/ Chun R. Ding <br>|

---

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

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** Burning Rock Biotech Ltd.

**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.

**CUSIP Number:** 12233L206

**Date of Event Which Requires Filing of this Statement:** 12/16/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>CRCM INSTITUTIONAL MASTER FUND (BVI), LTD. | Names of Reporting Persons<br>CRCM INSTITUTIONAL MASTER FUND (BVI), LTD. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>D8 | Citizenship or Place of Organization<br>D8 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>465000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>465000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>465000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>465000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.15% | Percent of Class Represented by Amount in Row (9)<br>5.15% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>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 90,341,113 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2025, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 29, 2025.

---

| 1. | Names of Reporting Persons<br>CRCM LP | Names of Reporting Persons<br>CRCM LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>486426 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>486426 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>486426 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>486426 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.38% | Percent of Class Represented by Amount in Row (9)<br>5.38% |
| 12. | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>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 90,341,113 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2025, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 29, 2025.

---

| 1. | Names of Reporting Persons<br>CRCM LLC | Names of Reporting Persons<br>CRCM LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>486426 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>486426 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>486426 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>486426 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.38% | Percent of Class Represented by Amount in Row (9)<br>5.38% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>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 90,341,113 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2025, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 29, 2025.

---

| 1. | Names of Reporting Persons<br>Ding Chun R | Names of Reporting Persons<br>Ding Chun R |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>U7 | Citizenship or Place of Organization<br>U7 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>486426 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>486426 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>486426 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>486426 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.38% | Percent of Class Represented by Amount in Row (9)<br>5.38% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>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 90,341,113 shares of Class A Ordinary Shares, par value $0.0002 per share issued and outstanding as of March 31, 2025, as indicated in the Issuer's annual report on Form 20F filed with the Securities and Exchange Commission by the Issuer on April 29, 2025.

---

**Item 1(a). Name of Issuer:**
Burning Rock Biotech Ltd.

**Item 1(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.

**Item 2(b). Address of Principal Business Office:**
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.

**Item 2(c). Citizenship:**
The citizenship of each Reporting Person is set forth above.

**Item 2(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.

**Item 2(e). CUSIP Number:**
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 Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

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. Certification:**

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.

**CRCM INSTITUTIONAL MASTER FUND (BVI), LTD.**

**Date:** 12/19/2025

**By:** /s/ Chun R. Ding

**Name & Title:** CRCM INSTITUTIONAL MASTER FUND (BVI), LTD.

**CRCM LP**

**Date:** 12/19/2025

**By:** /s/ Chun R. Ding

**Name & Title:** CRCM LP

**CRCM LLC**

**Date:** 12/19/2025

**By:** /s/ Chun R. Ding

**Name & Title:** CRCM LLC

**Ding Chun R**

**Date:** 12/19/2025

**By:** /s/ Chun R. Ding

**Name & Title:** DING CHUN R