Document:

EX-10.4

 Exhibit 10.4 

Exclusive Option Agreement 
 This
Exclusive Option Agreement (hereinafter referred to as this “Agreement”) is executed by and among the following Parties on October 21, 2019 in Beijing, the People’s Republic of China (“China” and for the
purposes of this Agreement, excludes Hong Kong, Macau and Taiwan): 
  

			
	  Party A:	  	Beijing Burning Rock Biotech Limited, a wholly foreign-owned enterprise incorporated and existing in accordance with the Chinese laws with Unified Social Credit Code 911101073970319399, whose address is at 2002, 17/F, House
18, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing;
		
	  Party B:	  	 HAN Yusheng (ID card number : ***) ;
  

NAN Xia (ID card number : ***) ;
  

LU Gang (ID card number : ***) ;
  

WU Zhigang (ID card number : ***) ;
  

ZHOU Dan (ID card number : ***) ;
  

SHAO Liang (ID card number : ***) ;
  

SI Peijing (ID card number : ***) ;
  

CHUAI Shaokun (ID card number : ***) ;
  

YIN Dong (ID card number : ***) ;
  

ZHAO Jin (ID card number : ***) ;
  

Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership) with the Unified Social Credit Code : 91440300359751396F ;

 
 Beijing Boleyou Management Consultation Center (Limited Partnership) with Unified
Social Credit Code : 91110105MA01N1BX62.

		
	  Party C:	  	Burning Rock (Beijing) Biotechnology Co., Ltd., a limited liability company incorporated and existing in accordance with Chinese laws, with Unified Social Credit Code 911103020896589672, whose address is at 2002, 17/F,
House 18, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing.

 In this Agreement, Party A, Party B and Party C are hereinafter each referred to as a “Party” and
collectively referred to as the “Parties”. 
 Whereas: 

Party B holds 100% of the equity interests in Party C. 

  
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 Now the Parties enter into the following agreement through negotiation: 

 

	1.	 Sale and Purchase of Equity and Asset 

 

	 	1.1	 Grant of right 

  

	 	1.1.1	 Party B hereby irrevocably grants Party A or designate a Person or Persons (each referred to as a
“Designated Person (equity)”) an irrevocable exclusive right to purchase at any time from Party B of all or part of the equity held by it in Party C at one time or multiple times by steps decided by Party A at its own discretion at
the price stated in Article 1.3 hereof, to the extent permitted by Chinese laws (the “Purchasing Right (equity)”). Other than Party A and the Designated Person (equity), no one may enjoy the Purchasing Right (equity) or other rights
in relation to Party B’s equity. Party C hereby consents to the grant of the Purchasing Right (equity) by Party B to Party A. The term “Person” referred to in this clause and this Agreement means individual, company, joint
venture, partnership, enterprise, trust or non-corporate organization. 

  

	 	1.1.2	 Party C hereby irrevocably grants Party A or designate a Person or Persons (each referred to as a
“Designated Person (assets)”, together with the Designated Person (equity), the “Designated Person”) an irrevocable exclusive right to purchase at any time from Party C all or part of its assets at one time
or multiple times by steps decided by Party A at its own discretion at the price stated in Article 1.3 hereof, to the extent permitted by Chinese laws (the “Purchasing Right (assets)”). Other than Party A and the Designated Persons
(assets), no one may enjoy the Purchasing Right (assets) or other rights in relation to Party C’s assets. Party B consents to the grant of the Purchasing Right (assets) by Party C to Party A. 

 

	 	1.2	 Exercising steps 

Subject to the terms and conditions hereof and to the extent permitted by Chinese laws, Party A shall have an absolute discretion to decide the
time, manner and frequency of the exercise of its rights. 
 The exercise of Purchasing Right (equity) by Party A shall be subject to the
provisions of Chinese laws and regulations. To exercise its Purchasing Right (equity), Party A shall notify Party B in writing (the “Purchase Notice of Equity”), specifying the following matters: (a) Party A’s decision on
the exercise of the Purchasing Right (equity); (b) the equity that Party A intends to purchase from Party B (the “Purchased Equity”); and (c) the date of purchase/transfer of the Purchased Equity. 

The exercise of Purchasing Right (assets) by Party A shall be subject to the provisions of Chinese laws and regulations. To exercise its
Purchasing Right (assets), Party A shall notify Party B in writing (the “Purchase Notice of  

  
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Assets”), specifying the following matters: (a) Party A’s decision on the exercise of the Purchasing Right (assets); (b) the asset that Party A intends to purchase from
Party C (the “Purchased Asset”); and (c) the date of purchase/transfer of the Purchased Asset. 
 Upon the exercise of
Purchasing Right (equity) or Purchasing Right (assets) by Party A, it may either acquire the Purchased Equity or the Purchased Asset itself, or designate a Designated Person to acquire all of part thereof. 

 

	 	1.3	 Purchase Price of Equity and Asset 

 

	 	1.3.1	 In respect of Purchased Equity, upon the exercise the rights by Party A, Party A and/or the Designated Person
shall pay to Party B the purchase price of the Purchased Equity (the “Purchase Price (equity)”), the amount of which shall be the then registered capital of Party C multiplied by the percentage of the Purchased Equity in proportion
to the total equity of Party C. If there is any mandatory requirement in the Chinese laws on the Purchase Price (equity) at the time, Party A and/or the Designated Person shall be entitled to enjoy the lowest price permitted by the law as the
Purchase Price (equity) under the Chinese laws. Upon the receipt of Party A and/or the Designated Person of all the approvals, registrations or filings related to the current Purchased Equity and the ownership documents thereof that are satisfactory
Party A and/or the Designated Person, Party A and/or the Designated Person shall pay the Purchase Price (equity) in cash to Party B who made the transfer. Party B undertakes and agrees to return in full the Purchase Price (equity) received to Party
A and/or the designated person within ten (10) working days after the Purchase Price (equity) is obtained. 

  

	 	1.3.2	 In respect of Purchased Asset, upon the exercise the rights by Party A, the purchase price of the Purchased
Assets (the “Purchase Price (assets)”) shall be equal to the book value of the Purchased Assets. However, if the lowest price permitted by the Chinese law is higher than the foregoing book value, the transfer price shall be based on
the lowest price permitted by the Chinese law. 

  

	 	1.4	 Transfer of the Purchased Equity and the Purchased Asset 

When Party A exercises its Purchasing Right (equity) or Purchasing Right (asset): 

 

	 	1.4.1	 Party B and Party C shall cause Party C to hold a shareholders’ meeting and/or Board meeting in a timely
manner, at which a resolution on approval of the transfer by Party B of the Purchased Equity to Party A and/or the Designated Persons (equity) or the transfer by Party C of the Purchased Asset to Party A and/or the Designated Persons (asset) shall
be adopted; 

  
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	 	1.4.2	 Party B or the Party C, as the case may be, shall execute an equity transfer contract or asset transfer
contract (hereinafter collectively referred to as the “Transfer Contract”) for each transfer with Party A and/or (if applicable) the Designated Persons in accordance with the provisions hereof and the relevant Purchase Notice;

  

	 	1.4.3	 Relevant Parties shall execute all other necessary contracts, agreements or documents, obtain all necessary
government licenses and permissions and take all necessary actions to transfer the title (free from Secured Interest) to the Purchased Equity or Purchased Asset to Party A and/or the Designated Person, as the case may be, and cause Party A and/or
the Designated Person to become the registered owner of the Purchased Equity or the Purchased Asset, if necessary. For the purpose of this clause and this Agreement, “Security Interest” includes guarantees, mortgages, pledges, lien,
claim, third party rights or interests, any share options, acquisition rights, preemptive rights, set-off rights, retention of title or other guarantee arrangements; provided that for the purpose of clarity,
any security interest incurred under this Agreement and Party B’s Equity Pledge Agreement are excluded. “Party B’s Equity Pledge Agreement” referred to in this clause and this Agreement means the Equity Pledge Agreement
executed by Party A, Party B and Party C on the date of execution hereof. According to Party B’s Equity Pledge Agreement, Party B pledges all of its equity in Party C to Party A in order to ensure that Party B can perform their obligations
hereunder and Party C can perform their obligations under the Exclusive Business Cooperation Agreement and relevant agreements executed between the Party C and Party A. 

 

	2.	 Undertakings 

 

	 	2.1	 Undertakings in relation to Party C 

 

	 	Party	 B (as Party C’s shareholders) and Party C hereby undertake that: 

 

	 	2.1.1	 Without the written consent of Party A, they may not by any means supplement, change or amend Party C’s
articles of association and rules and regulations, increase or reduce its registered capital, or in other ways change the structure of its registered capital; 

 

	 	2.1.2	 They will maintain the existence of the company and prudently and effectively operate its business and handle
its affairs in accordance with good financial and business standards and practices; 

  

	 	2.1.3	 Without the prior written consent of Party A, they will not sell, transfer, charge, pledge or by any other
means dispose of any legal or beneficial interest in Party C’s equity, assets, business or income or have the same encumbered with any Security Interest at any time as of the date of execution hereof; 

  
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	 	2.1.4	 Without the prior written consent of Party A, no debt will be incurred, inherited, guaranteed or allowed to
exist, except for: (i) debts arising from the normal course of business rather than the obtaining of loans, and (ii) debts that have been disclosed to and approved in writing by Party A; 

 

	 	2.1.5	 They have been operating all of Party C’s business during normal course of business, so as to maintain the
value of Party C’s assets, and will not engage in any act/omission that may affect its business status and asset value; 

  

	 	2.1.6	 Without the prior written consent of Party A, Party C may not be urged to execute any material contract, except
for those executed during normal course of business; 

  

	 	2.1.7	 Without the prior written consent of Party A, Party C may not be urged to provide any loan, credit, security or
guarantee for anyone; 

  

	 	2.1.8	 They will provide all materials in relation to Party C’s operation and financial positions to Party A at
the request of Party A; 

  

	 	2.1.9	 They shall, if any request is made by Party A, take out and hold insurance in relation to Party C’s assets
and business from an insurance company approved by Party A, the amount of and the risks covered by which shall be in line with that of and those covered by the insurance purchased by companies engaged in similar business; 

 

	 	2.1.10	 Without the prior written consent of Party A, Party C may not be urged or permitted to merge or consolidate
with anyone or acquire or invest in anyone or be acquired or invested; 

  

	 	2.1.11	 Without the prior written consent of Party A, Party C may not be liquidated, dissolved or deregistered;

  

	 	2.1.12	 They shall forthwith notify Party A of any litigation, arbitration or administrative procedure that will or may
arise in relation to Party C’s assets, business or income; 

  

	 	2.1.13	 They shall execute all necessary or appropriate documents, take all necessary or appropriate actions, file all
necessary or appropriate claims, or make necessary and appropriate defense against all claims, so as to maintain Party C’s title to all of its assets; 

  

	 	2.1.14	 Without the prior written consent of Party A, Party B shall not request Party C to make dividends or other
forms of profit distribution in respect to the equity owned by Party B, raise the resolutions related to this at a shareholders’ meeting, or vote in favor of such resolutions at the shareholders’ meeting, provided that once requested by
Party A in writing, Party C shall forthwith distribute all distributable profits, 

  
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dividends or bonus to its shareholders. In any event, unless Party A decides otherwise, Party B shall immediately pay or transfer to Party A or Party A’s designated party under the extent as
permitted by Chinese law such profits, profit distribution, dividends, bonus or proceeds upon any liquidation upon the receipt of such amount by Party B from Party C. 

 

	 	2.1.15	 At the request of Party A, they shall appoint any personnel designated by it to serve as Party C’s
director, supervisor or other personnel that should be been appointed or removed by Party B; 

  

	 	2.1.16	 They shall forthwith notify Party A of any situation that may have a material adverse effect on Party C’s
existence, business operations, financial position, asset or goodwill, and promptly take all measures as approved by Party A to exclude such adverse conditions or take effective remedies; 

 

	 	2.1.17	 At the request of Party A at any time, Party C shall forthwith and unconditionally transfer the Purchased Asset
to Party A and/the Designated Person based on the Purchasing Right (assets) hereunder; 

  

	 	2.1.18	 If Party C is required to be dissolved or liquidated under the mandatory requirements of Chinese laws, Party A
may exercise Party B’s all shareholder’s rights to Party C on behalf of Party B. Upon the completion of the above dissolution or liquidation, Party C shall allocate any asset according to law and after deduction of the actual capital
contribution made by Party B therefrom, and the remaining part of the distribution shall be transferred to Party A without any consideration without prejudice to applicable laws. 

 

	 	2.1.19	 In respect of the undertakings applicable to Party C under this Article 2.1, Party B and Party C shall procure
Party C’s holding subsidiaries to comply with such undertakings as applicable, as if such subsidiaries were Party C under the corresponding terms. 

  

	 	2.2	 Party B’s undertakings: 

Party B hereby undertakes that: 
  

	 	2.2.1	 Without the prior written consent of Party A, it may not sell, transfer, mortgage, pledge or by any other means
dispose of any legal or beneficial interest in the equity of Party C owned by it, or have the same encumbered with any Security Interest, except for those under Party B’s Equity Pledge Agreement; 

 

	 	2.2.2	 Party B shall procure that Party C’s shareholder’s meeting and/or board of directors will not approve
any sale, transfer, mortgage, pledge or disposition in any other way of any legal or beneficial interest in the equity of Party C owned by Party B, or have the same encumbered with any Security Interest, without the prior written consent of Party A,
except for those under Party B’s Equity Pledge Agreement; 

  
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	 	2.2.3	 Without the prior written consent of Party A, Party B shall procure that Party C’s shareholder’s
meeting or board of directors will not approve any merger or consolidation with anyone or any acquisition of or investment in anyone, or any acquisition by or investment from anyone; 

 

	 	2.2.4	 Party B shall forthwith notify Party A of any litigation, arbitration or administrative procedure that will or
may arise in relation to equity or assets of Party C owned by it; 

  

	 	2.2.5	 Party B shall procure that Party C’s shareholder’s meeting or board of directors will approve the
transfer of the Purchased Equity or Purchased Asset hereunder and take any and all other actions that may be requested by Party A; 

  

	 	2.2.6	 Party B shall execute all necessary or appropriate documents, take all necessary or appropriate actions, file
all necessary or appropriate claims, or make necessary and appropriate defense against all claims, so as to maintain its title to the equity of Party C; 

  

	 	2.2.7	 At the request of Party A, Party B shall appoint any personnel designated by it to serve as Party C’s
director; 

  

	 	2.2.8	 At the request of Party A at any time, Party B shall forthwith and unconditionally transfer its equity in Party
C to Party A and/the Designated Person (equity) based on the Purchasing Right (equity) hereunder, and Party B hereby waives its preemptive right (if any) to transfer equity to another existing shareholder of Party C; and 

 

	 	2.2.9	 Party B shall strictly comply with the provisions of this Agreement and other contracts executed by Party B and
Party C jointly or separately with Party A, perform its obligations thereunder, and not engage in any act/omission that may affect the validity and enforceability thereof. Where any Party B owns any residual right to the equity under this Agreement
or the Equity Pledge Agreement executed by the Parties hereto, or the power of attorney granted with Party A as the beneficiary, unless as instructed by Party A in writing, Party B may not exercise such right. 

 

	3.	 Representations and Warranties 

Party B and Party C hereby jointly and separately represent and warrant to Party A on the date of execution hereof and each date of transfer of
the Purchased Equity or Purchased Assets as follows: 
  

	 	3.1	 They have a complete and independent legal status and legal capacity to execute, deliver and perform this
Agreement, and can independently act as a 

  
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party of a litigation. They are authorized to execute and deliver this Agreement and any Transfer Contract and perform their obligations thereunder. Party B and Party C agree to execute a
Transfer Contract in line with the terms hereof at the time when Party A exercises its Purchasing Right (equity) or Purchasing Right (asset). This Agreement and Transfer Contracts to which they are a party constitute or will constitute their legal,
valid and binding obligations and shall be enforceable for them in accordance with the terms thereof; 

  

	 	3.2	 Neither the execution and delivery of nor the obligations under this Agreement or any Transfer Contract will:
(i) result in any violation of any applicable Chinese law; (ii) conflict with the articles of association, rules and regulations or other organizational documents of Party C; (iii) result in violation of or constitute any breach of
contract under any contract or instrument to which they are a party or which is binding upon them; (iv) result in any violation of any condition for the grant and/or continued validity of any license or permit issued to either of them; or
(v) result in the suspension or revocation of or additional conditions for any license or permit issued to either of them; 

  

	 	3.3	 Each Party B owns good and merchantable title to the equity in Party C held by it, and has not encumbered the
same with any Security Interest other than those under its Equity Pledge Agreement; 

  

	 	3.4	 Party C owns good and merchantable title to all of its assets, and has not encumbered the aforesaid assets with
any Security Interest; 

  

	 	3.5	 Party C does not have any outstanding debt, except for (i) debts arising from the normal course of
business, and (ii) debts that have been disclosed to and approved in writing by Party A; 

  

	 	3.6	 There is no pending or threatened litigation, arbitration or administrative procedure in relation to Party C,
its equity or assets. 

  

	 	3.7	 Except for the registration of equity pledges with the competent market supervisory authority in accordance
with the provisions of Party B’s Equity Pledge Agreement, the execution and performance of this Agreement and the granting or exercise of the Purchasing Right (equity) or Purchasing Right (asset) under this Agreement are not subject to the
consent, permit, waiver, authorization of any third party or the consent, permit, waiver of any government agency, or any registration or filing with government agency. 

 

	4.	 Date of Effectiveness and Term 

 

	 	4.1	 This Agreement shall take effect as of the date of execution hereof by the Parties, and this Agreement will be
terminated upon the transfer in accordance with the law of the all equity held by Party B in Party C to Party A and/or other entity or persons designated by it. 

  
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	 	4.2	 During the term hereof, Party A may, at its sole discretion, terminate or release this Agreement
unconditionally by giving written notice to Party B in advance without any liability. Except as the mandatory requirements required by Chinese law, Party B and Party C have no right to terminate or release this Agreement unilaterally.

  

	5.	 Governing Laws and Dispute Settlement 

 

	 	5.1	 Governing Laws 

The execution, effectiveness, interpretation, performance, modification and termination hereof and the settlement of disputes hereunder shall
be governed by Chinese laws. 
  

	 	5.2	 Settlement of disputes 

Any dispute arising from the interpretation and performance hereof shall be settled by the Parties through friendly negotiation first. Where
the Parties fail to reach any agreement on the settlement of such dispute within thirty (30) days after a request for settlement of the dispute through negotiation is made by any Party to the other Parties, any Party may submit the dispute to
China International Economic and Trade Arbitration Commission for settlement in accordance with its then effective arbitration rules. The arbitration shall be held in Beijing, and the language of the arbitration shall be Chinese. The arbitration
award shall be final and binding upon the Parties. 
  

	6.	 Taxes and Fees 

Each Party shall pay any and all transfer and registration taxes, expenses and fees incurred by or imposed on such Party in accordance with
Chinese laws with respect to the preparation and execution of this Agreement and Transfer Contracts and the completion of the transactions thereunder. 

Notwithstanding anything to the contrary contained, if the tax office considers that the Purchase Price (equity) or the Purchase Price (equity)
is not a reasonable transfer price to adjust the tax base, the increased tax shall be payable by Party B (in case of Party A in the exercise of the Purchasing Right (equity)) or Party C (in case of Party A in the exercise of Purchasing Right
(assets)). 
  

	7.	 Notice 

 

	 	7.1	 All notices and other communications to be sent as required or permitted hereunder shall be sent by hand or
postage prepaid registered mail, commercial courier service or fax to the following address of the receiving Party. For each notice, a confirmation letter shall be sent via email. Such notice shall be deemed effectively delivered on:

  

	 	7.1.1	 the date of delivery or rejection at the designated receiving address, if sent by personal delivery, courier
service or postage prepaid registered mail. 

  
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	 	7.1.2	 the date of successful transmission (evidenced by an automatically generated message confirming the
transmission), if sent by fax. 

  

	 	7.2	 For the purpose of notice, the Parties’ addresses are as follows: 

 

			
	 Party A:
	  	Beijing Burning Rock Biotech Limited
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	HAN Yusheng
	    Telephone:	  	***
		
	     Party B
:
	  	HAN Yusheng
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	HAN Yusheng
	    Telephone:	  	***
		
	 Party B :
	  	NAN Xia
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	NAN Xia
	    Telephone:	  	***
		
	 Party B :
	  	LU Gang
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	LU Gang
	    Telephone:	  	***
		
	 Party B :
	  	WU Zhigang
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	WU Zhigang
	    Telephone:	  	***
		
	 Party B :
	  	ZHOU Dan
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	ZHOU Dan
	    Telephone:	  	***

  
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	 Party B :
	  	SHAO Liang
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	SHAO Liang
	    Telephone:	  	***
		
	 Party B :
	  	SI Peijing
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	SI Peijing
	    Telephone:	  	***
		
	 Party B :
	  	CHUAI Shaokun
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	CHUAI Shaokun
	    Telephone:	  	***
		
	 Party B :
	  	YIN Dong
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	YIN Dong
	    Telephone:	  	***
		
	 Party B :
	  	ZHAO Jin
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	ZHAO Jin
	    Telephone:	  	***
		
	 Party B :
	  	Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership)
	    Address:	  	Floor 26, Block A, East Pacific International Center, No. 7888 Shennan Avenue, Xiangmihu Sub-district, Futian District, Shenzhen
	    Attention:	  	CAI Yunqiao
	    Telephone:	  	***
	    Fax:	  	***

  
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	 Party B :
	  	Beijing Boleyou Management Consultation Center (Limited Partnership)
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	HAN Yusheng
	    Telephone:	  	***
		
	 Party C :
	  	Burning Rock (Beijing) Biotechnology Co., Ltd.
	    Address:	  	Room 2002, House 18, Yuanjian Wai SOHO West Area, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing
	    Attention:	  	HAN Yusheng
	    Telephone:	  	***

  

	 	7.3	 Any Party may change at any time its address for the receipt of notices by notifying the other Parties in
accordance with the terms of this clause. 

  

	8.	 Confidentiality 

The Parties acknowledge that any oral or written information exchanged in respect hereof shall be confidential information. Each Party shall
keep confidential all such information and, without the written consent of the other Parties, may not disclose to any third party any relevant information, unless: (a) the public is or will be aware of such information (which is not caused by
any disclosure by the receiving Party to the public); (b) such information shall be disclosed as required by applicable laws or the rules or provisions of any securities exchange; (c) any Party is required to disclose such information to its
legal consultant or financial consultant with respect to any transaction provided for hereunder, and such legal consultant or financial consultant is also required to be bound by confidentiality obligation similar to that provided for in this
clause. The disclosure of any confidential information by any staff or organization employed by any Party shall be deemed as disclosure of such confidential information by such Party, and such Party shall bear legal liability for its violation
hereof. This clause shall survive the termination hereof for whatever reason. 
  

	9.	 Further Warranties 

The Parties agree to promptly execute documents and take further actions reasonably required for or favorable to the implementation of the
provisions and purposes hereof. 
  

	10.	 Miscellaneous 

 

	 	10.1	 Amendment, change and supplement 

The Parties agree that, Party A is entitled to unilaterally request amendment, modification and supplement of this Agreement. If Party A
request to do so, other Parties shall cooperate with the execution of relevant agreements and complete the corresponding registration and filing procedures, if required, 

  
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in accordance with relevant laws. Modification agreements and/or supplementary agreements executed by Parties in relation to this Agreement shall be an integral part hereof, and shall have the
same legal force and effect as this Agreement. 
  

	 	10.2	 Entire Agreement 

Except for any written amendment, supplement or change hereto made after the execution hereof, this Agreement shall constitute the entire
agreement among the Parties in respect of the subject matter hereof, and supersede all prior oral and written negotiation, statements and contracts, including the Exclusive Option Agreement signed on January 4, 2019 among the Party B (other
than Beijing Boleyou Management Consultation Center (Limited Partnership)) and the Party C, reached by them with respect to the subject matter hereof. 
  

	 	10.3	 Headings 

The headings herein are for the convenience of reading only, and shall not be used for the interpretation or explanation of or in any other
respect affecting the meaning of the provisions hereof. 
  

	 	10.4	 Language 

This Agreement is written in Chinese in fourteen (14) counterparts, each of which shall have the same legal force and effect. 

 

	 	10.5	 Severability 

Where any provision(s) hereof is/are determined by any laws or regulations to be void, illegal or unenforceable in any respect, the validity,
legality or enforceability of the remaining provisions hereof shall not be affected or damaged in any respect. The Parties shall endeavor through bona fide negotiation to replace such void, illegal or unenforceable provision(s) with valid
provision(s) to the maximum extent permitted by laws and expected by the Parties, and the economic effects of such valid provision(s) shall be similar to that of such void, illegal or unenforceable provision(s). 

 

	 	10.6	 Transfer 

Without the prior written consent of Party A, other Parties may not transfer any of its rights and/or obligations hereunder to any third party.
Party B and Party C agree that Party A may transfer its rights/obligations hereunder to any third party by notifying other Parties in writing in advance without the consent thereof. 

 

	 	10.7	 Successor 

This Agreement shall be binding upon and inure to the benefit of the respective successors of the Parties and the permitted assigns of such
Parties. 

  
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	 	10.8	 Survival 

 

			
	10.8.1	  	Any obligation arising from this Agreement or becoming due prior to the expiry or early termination hereof shall survive the expiry or early termination hereof.
		
	10.8.2	  	The provisions of Articles 5, 7, 8 hereof and this Article 10 shall survive the termination hereof.

  

	 	10.8	 Waiver 

Any Party may waive any terms and conditions hereof, provided that such waiver shall be made in writing and executed by the Parties. The waiver
by any Party under certain circumstances with respect to other Parties’ breach of contract shall not be deemed as waiver by such Party under other circumstances with respect to similar breach of contract. 

— The following is the signature page — 

  
 14 

 [this is a signature page of the Exclusive Option Agreement and the remainder of which is
intentionally left blank] 
 Party A : 

Beijing Burning Rock Biotech Limited (Seal) 
  

			
	Signature:	 	/s/ HAN Yusheng
	Name: HAN Yusheng
	Title: Legal Representative

 [this is a signature page of the Exclusive Option Agreement and the remainder of which is
intentionally left blank] 
 Party B : 

 

							
	HAN Yusheng	 	NAN Xia
				
	Signature:	 	/s/ HAN Yusheng	 	Signature:	 	/s/ NAN Xia
		
	LU Gang	 	WU Zhigang
				
	Signature:	 	/s/ LU Gang	 	Signature:	 	/s/ WU Zhigang
		
	ZHOU Dan	 	SHAO Liang
				
	Signature:	 	/s/ ZHOU Dan	 	Signature:	 	/s/ SHAO Liang
		
	SI Peijing	 	CHUAI Shaokun
				
	Signature:	 	/s/ SI Peijing	 	Signature:	 	/s/ CHUAI Shaokun
		
	YIN Dong	 	ZHAO Jin
				
	Signature:	 	/s/ YIN Dong	 	Signature:	 	/s/ ZHAO Jin

 [this is a signature page of the Exclusive Option Agreement and the remainder of which is
intentionally left blank] 
 Party B : 

Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership) (Seal) 

 

			
	Signature:	 	/s/ ZHOU Kexiang
	Name: ZHOU Kexiang
	Title: Authorized Signature

 [this is a signature page of the Exclusive Option Agreement and the remainder of which is
intentionally left blank] 
 Party B : 

Beijing Boleyou Management Consultation Center (Limited Partnership) (Seal) 
  

			
	Signature:	 	/s/ HAN Yusheng
	Name: HAN Yusheng
	Title: Legal Representative

 [this is a signature page of the Exclusive Option Agreement and the remainder of which is
intentionally left blank] 
 Party C : 
 Burning
Rock (Beijing) Biotechnology Co., Ltd. (Seal) 
  

			
	Signature:	 	/s/ HAN Yusheng
	Name: HAN Yusheng
	Title: Legal RepresentativeEX-10.5

 Exhibit 10.5 

Equity Pledge Agreement 
 This Equity
Pledge Agreement (this “Agreement”) is executed by and among the following Parties on October 21, 2019 in Beijing, the People’s Republic of China (“China” and for the purposes of this Agreement, excludes
Hong Kong, Macau and Taiwan): 
  

			
	  Party A:	  	Beijing Burning Rock Biotech Limited, a wholly foreign-owned enterprise incorporated and existing in accordance with the Chines laws with Unified Social Credit Code 911101073970319399, whose address is at 2002, 17/F, House
18, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing (the “Pledgee”);
		
	  Party B:	  	 HAN Yusheng (ID card number : ***) ;
  

NAN Xia (ID card number : ***) ;
  

LU Gang (ID card number : ***) ;
  

WU Zhigang (ID card number : ***) ;
  

ZHOU Dan (ID card number : ***) ;
  

SHAO Liang (ID card number : ***) ;
  

SI Peijing (ID card number : ***) ;
  

CHUAI Shaokun (ID card number : ***) ;
  

YIN Dong (ID card number : ***) ;
  

ZHAO Jin (ID card number : ***) ;
  

Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership) with the Unified Social Credit Code : 91440300359751396F ;

 
 Beijing Boleyou Management Consultation Center (Limited Partnership) with Unified
Social Credit Code : 91110105MA01N1BX62
  
 (Party B hereinafter referred to
collectively as the “Pledgors”);

  
 1 

			
	  Party C:	  	Burning Rock (Beijing) Biotechnology Co., Ltd., a limited liability company incorporated and existing in accordance with Chines laws, with Unified Social Credit Code 911103020896589672, whose address is at 2002, 17/F,
House 18, No. 39 Dong San Huan Middle Road, Chaoyang District, Beijing.

 In this Agreement, the Pledgee, the Pledgors and Party C are hereinafter each referred to as a “Party” and
collectively referred to as the “Parties”. 
 Whereas: 
  

	1.	 The Pledgors are holding 100% of the equity of Party C. Party C is company registered in Beijing, China with
limited liability, and is engaged in the technology development, transfer, consultation and promotion services, software development as well as investment management. Party C acknowledges the respective rights and obligations of the Pledgors and the
Pledgee hereunder and agrees to provide any necessary assistance in the registration of such Right of Pledge; 

  

	2.	 The Pledgee is a wholly foreign-owned enterprise incorporated in Beijing, China. The Pledgee and Party C
executed an Exclusive Business Cooperation Agreement (the “Exclusive Business Cooperation Agreement”) on October 21, 2019. On October 21, 2019, the Pledgors, Party C and the Pledgee executed an Exclusive Option Agreement
(the “Exclusive Option Agreement”). On October 21, 2019, each Pledgor executed an Agreement for Power of Attorney (the “Power of Attorney”, together with Exclusive Business Cooperation Agreement and the
Exclusive Option Agreement, the “Project Agreements” ); 

  

	3.	 In order to ensure, among others, that : (A) the Pledgee will receive all payment that become due from the
Party C under the Exclusive Business Cooperation Agreement, including but not limited to the service fee, (B) the Pledgee will exercise its Purchasing Right (equity) and/or Purchasing Right (assets) under the Exclusive Option Agreement
effectively, and (C) the Pledgee will exercise its voting right under the Power of Attorney, the Pledgors pledge all of the equity interest owned by them in Party C to the Pledgee for the performance of each obligations by Party C and the
Pledgors of the Project Agreements. 

 In view of the above, the Parties agree to execute this Agreement in accordance with the following
terms. 

  
 2 

	 	1.	 Definitions 

Unless otherwise specified herein, the following words shall have the meanings ascribed to them below: 

 

	 	1.1	 “Right of Pledge” shall mean the security interest granted by the Pledgors to the Pledgee
pursuant to Article 2 hereof, i.e., the Pledgee’s right to be paid in priority with the price at which the Equity is transferred, auctioned or sold. 

  

	 	1.2	 “Equity” shall mean 100% of the equity legally held by the Pledgors in the Party C, i.e., the
45.91% of the equity held by the Pledgor HAN Yusheng in Party C, the 18.11% of the equity held by the Pledgor NAN Xia in Party C, the 7.06% of the equity held by the Pledgor LU Gangin Party C, the 3.22% of the equity held by the Pledgor WU Zhigang
in Party C, the 2.71% of the equity held by the Pledgor ZHOU Dan in Party C, the 1.72% of the equity held by the Pledgor SHAO Liang in Party C, the 1.95% of the equity held by the Pledgor SI Peijing in Party C, the 3.18% of the equity held by the
Pledgor CHUAI Shaokun in Party C, the 0.45% of the equity held by the Pledgor YIN Dong in Party C, the 8.76% of the equity held by the Pledgor ZHAO Jin in Party C, the 5.97% of the equity held by the PledgorGrowth No. 12 Investment (Shenzhen)
Partnership (Limited Partnership) in Party C, the 0.95% of the equity held by the Pledgor Beijing Boleyou Management Consultation Center (Limited Partnership) in Party C and the increased amount injected and the dividend under the Articles 2.3 and
2.4, if any. 

  

	 	1.3	 “Term of Pledge” shall mean the term provided for in Article 3 hereof. 

 

	 	1.4	 “Project Agreements” mean the term provided for in preamble hereof. 

 

	 	1.5	 “Contractual Obligations” mean all contractual obligations to be performed by the Pledgors and
Party C hereunder and the Project Agreements. 

  

	 	1.6	 “Secured Debt” shall mean the payment and other obligation of the Party C under the Exclusive
Business Cooperation Agreement, the obligation of the Party C and the Pledgors under the Exclusive Option Agreement and the Agreement for Power of Attorney, and all direct, indirect and derivative losses and loss of predictable interests suffered by
the Pledgee as a result of any Event of Default (as defined below) by any Pledgors and/or Party C. Basis for the amount of such losses includes but is not limited to the Pledgee’s reasonable business plan and earnings estimate, fees payable by
Party C under the Exclusive Business Cooperation Agreement, and all costs incurred by the Pledgee to force the Pledgors and/or the Company to perform their Contractual Obligations. 

  
 3 

	 	1.7	 “Event of Default” shall mean any circumstance specified in Article 7 hereof.

  

	 	1.8	 “Default Notice” shall mean notice issued by the Pledgee in accordance with this Agreement to
declare any Event of Default. 

  

	 	2.	 Right of Pledge 

 

	 	2.1	 As a guarantee of the Secured Debt, the Pledgors hereby agree to pledge all of the Equity to the Pledgee. The
Party C hereby agrees to the pledge of Equity to the Pledgee by the Pledgors hereunder. 

  

	 	2.2	 The Pledgors undertake that they shall be responsible for the entry of pledge of the Equity hereunder in the
register of shareholders of Party C. 

  

	 	2.3	 With the prior written consent of the Pledgee, the Pledgors may increase the capital of Party C. The amount of
additional contribution made by the Pledgors in the registered capital of the Party C due to capital increase also falls under the Equity. The Pledgors undertake that, within ten (10) working days from the capital increase, the pledge of
Equity, being the amount of additional contribution made under this Article 2.3 shall be entered in the register of shareholders of Party C and an application thereof shall be made to the Registration Authority (as defined below).

  

	 	2.4	 During the term of Pledge, the Pledgee shall have the right to collect the income (including but not limited to
dividends and profits) arising from the Equity. Only with the prior written consent of the Pledgee, the Pledgors may receive dividends or profits in respect of the Equity. The dividends or profits received by the Pledgors on the Equity shall be
deposited into an account designated and supervised by the Pledgee and used first for paying off the Secured Debts. 

  

	 	3.	 Term of Pledge 

 

	 	3.1	 The Right of Pledge shall take effect upon the registration thereof with the local bureau of State
Administration for Market Regulation at the place where Party C is located (hereinafter referred to as the “Registration Authority”). The Parties agree that within ten (10) days from the date of execution hereof, the Pledgors
and Party A shall file an application with the Registration 

  
 4 

	 	
Authority for the registration of the equity pledge. The Parties further agree that, within ten (10) working days as of the date of formal acceptance by the Registration Authority of the
application for equity pledge registration, all formalities for equity pledge registration shall be completed, a registration notice issued by the Registration Authority shall be obtained, and the equity pledge shall be recorded completely and
accurately on the equity pledge register by the Registration Authority. 

  

	 	3.2	 The term hereof shall expire upon the performance of the Contractual Obligations in full or the settlement of
the Secured Debts in full. 

  

	 	4.	 Custody of Equity Records 

 

	 	4.1	 During the Term of Pledge provided for herein, the Pledgors shall deliver within a five (5) days upon the
execution hereof the register of shareholders on which the Right of Pledge is recorded to the Pledgee for custody. The Pledgee shall keep such documents throughout the Term of Pledge provided for herein. 

 

	 	4.2	 During the Term of Pledge, the Pledgee shall have the right to collect the dividends arising from the Equity.
With the prior written consent of the Pledgee, the Pledgors may receive dividends or profits in respect of the Equity. The dividends or profits received by the Pledgors on the Equity shall be, after deductions are made to pay the income tax payable
by the Pledgors, at the request of the Pledgee: (1) deposited into an account designated and supervised by the Pledgee and used for securing the obligations under the Transaction Documents and first for paying off the Secured Debts under the
Transaction Documents; or (2) without violating Chinese laws, unconditionally granted to the Pledgee or any person designated by the Pledgee. 

  

	 	5.	 Representations and Warranties of the Pledgors  

 

	 	5.1	 The Pledgors are citizens/enterprises of China, having full capacity to act and legal rights and the ability to
enter into this Agreement and assume legal obligations under this Agreement. The Agreement, when executed by the Pledgors, constitute their legal, valid and binding obligations. 

 

	 	5.2	 Pledgors are the sole legal and beneficial owners of the Equity and there is no any disputes on the title of
the Equity. The Pledgors have the right to dispose of the Equity and any parts thereof. 

  
 5 

	 	5.3	 Other than this Right of Pledge, Pledgors have not created any security interest or other encumbrances on the
Equity. 

  

	 	5.4	 In relation to the execution and delivery hereof and the pledged of Equity hereunder, the Pledgors have
obtained the necessary consent, permit, waiver, authorization of third parties or approval, permit, waiver of government authorities, or registration or application (if required by law, and except for the equity pledge registration) to the
government authorities have been obtained or completed, which shall remain in full effect during the term hereof. 

  

	 	5.5	 The Pledgors hereby undertake to the Pledgee that the above representations and warranties, prior to any time
before the performance of the Contractual Obligations in full or the settlement of the Secured Debts in full, is true and correct and will be fully complied with. 

 

	 	6.	 Undertakings and Further Consent of the Pledgors 

 

	 	6.1	 During the term hereof, the Pledgors hereby undertake to the Pledgee that: 

 

	 	6.1.1	 Except for performing the Exclusive Option Agreement, without the prior written consent of the Pledgee, the
Pledgors may not transfer the Equity or create or allow the existence of any security interest or other encumbrances thereon which may affect the rights and interests of the Pledgee in the Equity; 

 

	 	6.1.2	 The Pledgors will forthwith notify the Pledgee of any event or any notice received by the Pledgor which may
affect the Pledgee’s right to the Equity or any part thereof and any event or any notice received by the Pledgor which may affect any warranty or other obligations of the Pledgor arising from this Agreement. 

 

	 	6.2	 The Pledgors agree that the right to the Equity obtained by the Pledgee in accordance with this Agreement may
not be interrupted or obstructed by such Pledgor or any successor or representative thereof or any other person through legal procedure. 

  

	 	6.3	 The Pledgors hereby undertake to the Pledgee that it will comply with and perform all warranties, undertakings,
agreements, representations and conditions hereunder. Where any Pledgor fails to or partially perform its warranties, undertakings, agreements, representations and conditions, such Pledgor shall compensate the Pledgee for all losses resulting
therefrom. 

  
 6 

	 	6.4	 The Pledgors hereby waive their preemptive rights that they may be entitled to when the Pledgee exercises the
Right of Pledge. 

  

	 	7.	 Event of Default 

 

	 	7.1	 Each of the following circumstances shall be deemed as an Event of Default: 

 

	 	7.1.1	 Failure of payment in full of the service fee payable by the Party C under the Exclusive Business Cooperation
Agreement or violation by Party C of other obligations thereunder; 

  

	 	7.1.2	 Party C or any Pledgor violates any provisions of the Project Agreements; 

 

	 	7.1.3	 Any representation or warranty made by any Pledgor in Article 5 hereof includes material misrepresentation or
error, and/or any Pledgor violates any warranty in Article 5 hereof; or any Pledgor violates any undertakings and Further Consent in Article 6 hereof; 

  

	 	7.1.4	 The Pledgors and Party C fail to complete the equity pledge registration with the Registration Authority as
provided for in Article 3.1 hereof; 

  

	 	7.1.5	 Any Pledgor or Party C violates any provisions hereof; 

 

	 	7.1.6	 Unless specified in Article 6.1.1, any Pledgor transfers or intends to transfer or waives the Equity or assigns
the Equity without the written consent of the Pledgee; 

  

	 	7.1.7	 Any liability of the Pledgors from any loan from or any guarantee, compensation, undertaking or other debts to
any third party: (1) is required to be repaid or performed in advance due to the Pledgor’s breach of contract; or (2) has become due but cannot be repaid or performed on time; 

 

	 	7.1.8	 Any approval, license, permit or authorization of government authorities which makes this Agreement
enforceable, legal and valid is withdrawn or suspended, becomes void, or is changed substantially; 

  
 7 

	 	7.1.9	 The promulgation of applicable laws which makes this Agreement illegal or makes any Pledgor unable to continue
to perform its obligations hereunder; 

  

	 	7.1.10	 Any adverse change in the property owned by any Pledgor, causing the Pledgee to deem that such Pledgor’s
ability to perform its obligations hereunder is affected; 

  

	 	7.1.11	 Party C’s successor or trustee can only partially perform or refuses to perform the obligations under the
Exclusive Business Cooperation Agreement or the payment obligations under the Exclusive Option Agreement; and 

  

	 	7.1.12	 Any other circumstances under which the Pledgee is unable or may be unable to exercise the Rights of Pledge.

  

	 	7.2	 Upon knowing or noticing any circumstance specified in Article 7.1 or the occurrence of any event which may
result in the aforesaid circumstances, the Pledgors shall forthwith notify the Pledgee in writing accordingly. 

  

	 	7.3	 Unless the Event of Default specified in this Article 7.1 has been successfully settled to the satisfaction of
the Pledgee, the Pledgee may issue upon or at any time after the occurrence of any Event of Default a Default Notice to any Pledgor, requesting the latter to forthwith pay all outstanding payment that become due and all payment become due and
payable to the Pledgee under the Project Agreements, and/or exercise the Right of Pledge in accordance with the provisions of Article 8 hereof. 

  

	 	8.	 Exercise of the Right of Pledge 

 

	 	8.1	 Prior to the settlement in full of the Secured Debts and without the written consent of the Pledgee, no Pledgor
may transfer its Equity in Party C or pledge the Equity to any third party. 

  

	 	8.2	 The Pledgee may issue a Default Notice to the Pledgors at the time of exercising the Right of Pledge.

  

	 	8.3	 Subject to Article 7.3, the Pledgee may exercise the Right of Pledge upon Default Notice or at any time after
the Default Notice is issued in accordance with Article 7.2. 

  
 8 

	 	8.4	 The Pledgee may be paid in priority in accordance with legal procedures with the price at which all or part of
the Equity pledged hereunder is transferred, auctioned or sold, until the outstanding payment and other payment which become due and payable to the Pledgee under the Project Agreements are fully offset. 

 

	 	8.5	 When the Pledgee take action with the pledged Equity in accordance with this Agreement, the Pledgors and Party
C shall render necessary assistance, so that the Pledgee may exercise the Right of Pledge pursuant to this Agreement. 

  

	 	9.	 Transfer 

 

	 	9.1	 Without the prior written consent of the Pledgee, the Pledgors may not assign its rights or delegate its
obligations hereunder while the Pledgee may transfer at any time its rights and obligations hereunder without obtaining any consent of the Pledgors or the Party C, but the Pledgee shall issue notice to them within a reasonable period.

  

	 	9.2	 This Agreement shall be binding upon the Pledgors and its successors and permitted assignees, and shall be
valid for the Pledgee and each of its successors and assignees. 

  

	 	9.3	 The Pledgee may transfer at any time any and all of its rights and obligations hereunder and/or the Project
Agreements to any (natural/legal) person designated by it, in which case the transferee shall enjoy the rights and bear the obligations of the Pledgee hereunder, as if it were an original party hereto. When the Pledgee transfers any of its rights
and obligations under the Project Agreements, at the request of the Pledgee, the Pledgors shall execute relevant agreements or other documents in relation to such transfer. 

 

	 	9.4	 Where the Pledgee is changed as a result of the transfer, at the request of the Pledgee, the Pledgors shall
execute with the new Pledgee a new pledge agreement with the same terms and conditions as that of this Agreement and signed updated Exclusive Business Cooperation Agreement, Exclusive Option Agreement and Power of Attorney. 

 

	 	9.5	 The Pledgors shall strictly comply with the provisions of this Agreement and other contracts or documents
executed jointly or separately by the Parties or 

  
 9 

	 	
any Party, including the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement and the Power of Attorney granted to the Pledgee, perform their obligations under this Agreement
and other contracts, and not engage in any act/omission that may affect the validity and enforceability thereof. Unless instructed by the Pledgee in writing, the Pledgors may not exercise any residual right to the Equity hereunder.

  

	 	10.	 Termination and the Release of the Pledge 

After the Pledgors and Party C have fully and completely performed all of their Contractual Obligations and paid off all Secured Debts, the
Pledgee shall, at the request of the Pledgors, as soon as reasonably practicable, terminate the pledge of the pledged Equity hereunder, and cooperate with the Pledgors to handle formalities for cancelling the registration of the Equity in Party
C’s register of shareholders and for cancelling the registration of pledge with relevant administration for industry and commerce. 
  

	 	11.	 Costs and other Fees 

All fees and actual expenditures in relation to this Agreement, including but not limited to the lawyer’s fee, cost of production, stamp
duty, and any other taxes and costs shall be borne by Party C. Where any applicable law requires that the Pledgee shall bear some relevant taxes and fees, the Pledgors shall cause Party C to repay in full the taxes and fees that have been paid by
the Pledgee. 
  

	 	12.	 Confidentiality 

The Parties acknowledge that any oral or written information exchanged in respect hereof shall be confidential information. Each Party shall
keep confidential all such information and, without the written consent of the other Parties, may not disclose to any third party any relevant information, unless: (a) the public is or will be aware of such information (which is not caused by
any disclosure by the receiving Party to the public); (b) such information shall be disclosed as required by applicable laws or the rules or provisions of any securities exchange; or (c) any Party is required to disclose such information to its
legal consultant or financial consultant with respect to any transaction provided for hereunder, and such legal consultant or financial consultant is also required to be bound by confidentiality obligation similar to that provided for in this
clause. The disclosure of any confidential information by any staff 

  
 10 

 
or organization employed by any Party shall be deemed as disclosure of such confidential information by such Party, and such Party shall bear legal liability for its violation hereof. This clause
shall survive the termination hereof for whatever reason. 
  

	 	13.	 Governing Laws and Dispute Settlement 

 

	 	13.1	 The execution, effectiveness, interpretation and performance hereof and the settlement of disputes hereunder
shall be governed by the Chinese laws. 

  

	 	13.2	 Any dispute arising from the interpretation and performance hereof shall be settled by the Parties through
friendly negotiation first. Where the Parties fail to reach any agreement on the settlement of such dispute within 30 days after a request for settlement of the dispute through negotiation is made by any Party to the other Parties, any Party may
submit the dispute to China International Economic and Trade Arbitration Commission for settlement in accordance with its then effective arbitration rules. The arbitration shall be held in Beijing, and the language of the arbitration shall be
Chinese. The arbitration award shall be final and binding upon the Parties. 

  

	 	13.3	 Where any dispute arises from the interpretation and performance hereof, or during the period when any dispute
is subject to arbitration, except for the matters under dispute, the Parties hereto shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	 	14.	 Notice 

 

	 	14.1	 All notices and other communications to be sent as required or permitted hereunder shall be sent by hand or
postage prepaid registered mail, commercial courier service or fax to the following address of the receiving Party. For each notice, a confirmation letter shall be sent via email. Such notice shall be deemed effectively delivered on:

  

	 	14.1.1	 the date of delivery or rejection at the designated receiving address, if sent by hand, courier service or
postage prepaid registered mail. 

  

	 	14.1.2	 the date of successful transmission (evidenced by an automatically generated message confirming the
transmission), if sent by fax. 

  

	 	14.2	 Any Party may change at any time its address for the receipt of notices by notifying the other Parties in
accordance with the terms of this clause. 

  
 11 

	 	15.	 Severability 

Where any provision(s) hereof is/are determined by any laws or regulations to be void, illegal or unenforceable in any respect, the validity,
legality or enforceability of the remaining provisions hereof shall not be affected or damaged in any respect. The Parties shall endeavor through bona fide negotiation to replace such void, illegal or unenforceable provision(s) with valid
provision(s) to the maximum extent permitted by laws and expected by the Parties, and the economic effects of such valid provision(s) shall be similar to that of such void, illegal or unenforceable provision(s). 

 

	 	16.	 Appendix 

The appendices listed herein shall be an integral part hereof. 
  

	 	17.	 Effectiveness 

 

	 	17.1	 This Agreement shall take effect on the date of execution hereof by the Parties. Any amendments, modifications
and supplements hereto shall be made in writing and take effect after the signature or seal of the Parties. 

  

	 	17.2	 Except for any written amendment, supplement or modification hereto made after the execution hereof, this
Agreement shall constitute the entire agreement among the Parties in respect of the subject matter hereof, and supersede all prior oral and written negotiation, statements and contracts, including the Equity Pledge Agreement signed on
January 4, 2019 among the Party A and the Party B (other than Beijing Boleyou Management Consultation Center (Limited Partnership)) and the Party C, reached by them with respect to the subject matter hereof. 

 

	 	17.3	 This Agreement is written in Chinese in fourteen (14) counterparts, with the Pledgors, the Pledgee and
Party C holding one copy respectively, each of which shall have the same legal force and effect. 

 — The following
is the signature page — 

  
 12 

 [this is a signature page of the Equity Pledge Agreement and the remainder of which is
intentionally left blank] 
 Party A: 
 Beijing
Burning Rock Biotech Limited (Seal) 
  

			
	Signature:	 	/s/ HAN Yusheng
	Name: HAN Yusheng
	Title: Legal Representative

 [this is a signature page of the Equity Pledge Agreement and the remainder of which is
intentionally left blank] 
 Party B: 
  

							
	HAN Yusheng	 	NAN Xia
				
	Signature:	 	/s/ HAN Yusheng 	 	Signature:	 	/s/ NAN Xia
		
	LU Gang	 	WU Zhigang
				
	Signature:	 	/s/ LU Gang	 	Signature:	 	/s/ WU Zhigang
		
	ZHOU Dan	 	SHAO Liang
				
	Signature:	 	/s/ ZHOU Dan	 	Signature:	 	/s/ SHAO Liang
		
	SI Peijing	 	CHUAI Shaokun
				
	Signature:	 	/s/ SI Peijing	 	Signature:	 	/s/ CHUAI Shaokun
		
	YIN Dong	 	ZHAO Jin
				
	Signature:	 	/s/ YIN Dong	 	Signature:	 	/s/ ZHAO Jin

 [this is a signature page of the Equity Pledge Agreement and the remainder of which is
intentionally left blank] 
 Party B : 
 Growth
No. 12 Investment (Shenzhen) Partnership (Limited Partnership) (Seal) 
  

			
	Signature:	 	/s/ ZHOU Kexiang
	Name: ZHOU Kexiang
	Title: Authorized representative

 [this is a signature page of the Equity Pledge Agreement and the remainder of which is
intentionally left blank] 
 Party B: 
 Beijing
Boleyou Management Consultation Center (Limited Partnership) (Seal) 
  

			
	Signature:	 	/s/ HAN Yusheng
	Name: HAN Yusheng
	Title: Authorized representative

 [this is a signature page of the Equity Pledge Agreement and the remainder of which is
intentional left blank] 
 Party C: 
 Burning Rock
(Beijing) Biotechnology Co., Ltd. (Seal) 
  

			
	Signature:	 	/s/ HAN Yusheng
	Name: HAN Yusheng
	Title: Legal Representative

 Appendices: 

Appendix 1: Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd. 

Appendix 2: Register of Shareholders of Burning Rock (Beijing) Biotechnology Co., Ltd. 

 Appendix I 

Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd. 

(code: 001) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 HAN Yusheng

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB3,545,633

		
	 note:
	  	This is to certify that HAN Yusheng holds RMB 3,545,633 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 45.91% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 45.91% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng 
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 002) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB 7,723,649.57

		
	 Name of Shareholder:
	  	 NAN Xia

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB1,398,936

		
	 note:
	  	This is to certify that NAN Xia holds RMB 1,398,936 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 18.11% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 18.11% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 003) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 LU Gang

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB545,645

		
	 note:
	  	This is to certify that LU Gang holds RMB545,645 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 7.06% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 7.06% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 004) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB 7,723,649.57

		
	 Name of Shareholder:
	  	 WU Zhigang

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB248,889.54

		
	 note:
	  	This is to certify that WU Zhigang holds RMB 248,889.54 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 3.22% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 3.22% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 005) 
  

			
	 Name of the Company : 
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 ZHOU Dan

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB209,500.62

		
	 note:
	  	This is to certify that ZHOU Dan holds RMB 209,500.62 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 2.71% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 2.71% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 006) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 SHAO Liang

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB132,885

		
	 note:
	  	This is to certify that SHAO Liang holds RMB 132,885 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 1.72% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 1.72% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng 
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 007) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :

	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 SI Peijing

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB150,377

		
	 note:
	  	This is to certify that SI Peijing holds RMB 150,377 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 1.95% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 1.95% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng 
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 008) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 CHUAI Shaokun

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB245,790

		
	 note:
	  	This is to certify that CHUAI Shaokun holds RMB 245,790 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 3.18% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 3.18% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng 
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 009) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 YIN Dong

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB34,973

		
	 note:
	  	This is to certify that YIN Dong holds RMB 34,973 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 0.45% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 0.45% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 010) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 ZHAO Jin

		
	 Shareholder’s ID card number:
	  	 ***

		
	 Capital paid-up by the Shareholder:
	  	 RMB676,723

		
	 note:
	  	This is to certify that ZHAO Jin holds RMB 676,723 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 8.76% of the equity thereof. Under the Equity Pledge Agreement executed on
October 21, 2019, such 8.76% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 011) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership)

		
	 Shareholder’s Unified Social Credit Code:
	  	 91440300359751396F

		
	 Capital paid-up by the Shareholder:
	  	 RMB461,024

		
	 note:
	  	This is to certify that Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership) holds RMB 461,024 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 5.97% of the equity
thereof. Under the Equity Pledge Agreement executed on October 21, 2019, such 5.97% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been
completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Capital Contribution Certificate of Burning Rock (Beijing) Biotechnology Co., Ltd.

 (code: 012) 
  

			
	 Name of the Company :
	  	 Burning Rock (Beijing) Biotechnology Co., Ltd.

		
	 Date of Establishment :
	  	 January 7, 2014

		
	 Registered Capital:
	  	 RMB7,723,649.57

		
	 Name of Shareholder:
	  	 Beijing Boleyou Management Consultation Center (Limited Partnership)

		
	 Shareholder’s Unified Social Credit Code: :
	  	 91110105MA01N1BX62

		
	 Capital paid-up by the Shareholder:
	  	 RMB 73,273.41

		
	 note:
	  	This is to certify that Beijing Boleyou Management Consultation Center (Limited Partnership) holds RMB73,273.41 in the registered capital of Burning Rock (Beijing) Biotechnology Co., Ltd., accounting for 0.95% of the equity
thereof. Under the Equity Pledge Agreement executed on October 21, 2019, such 0.95% of the equity has all been pledged to Beijing Burning Rock Biotech Limited and the pledge registration to the Registration Authority has been
completed.

  

	
	Burning Rock (Beijing) Biotechnology Co., Ltd. (Seal)
	
	Legal Representative : /s/ HAN Yusheng
	
	Date: October 21, 2019

 Appendix 2 

Burning Rock (Beijing) Biotechnology Co., Ltd. 

October 21, 2019 
  

							
	 Name of
Shareholder:
	  	ID number/Unified Social
Credit Code	 	 Capital injected
	  	 Equity pledged

	HAN Yusheng	  	***	 	 Capital Contribution Certificate : code 001

Capital injected: RMB3,545,633    % of registered capital : 45.91%
	  	Such 45.91% of the equity held by HAN Yusheng has all been pledged to Beijing Burning Rock Biotech Limited.
				
	NAN Xia	  	***	 	 Capital Contribution Certificate : code 002

Capital injected: RMB1,398,936    % of registered capital : 18.11%
	  	Such 18.11% of the equity held by NAN Xia has all been pledged to Beijing Burning Rock Biotech Limited.
				
	LU Gang	  	***	 	 Capital Contribution Certificate : code 003

Capital injected: RMB545,645    % of registered capital : 7.06%
	  	Such 7.06% of the equity held by LU Gang has all been pledged to Beijing Burning Rock Biotech Limited.
				
	WU Zhigang	  	***	 	 Capital Contribution Certificate : code 004

Capital injected: RMB248,889.54    % of registered capital : 3.22%
	  	Such 3.22% of the equity held by WU Zhigang has all been pledged to Beijing Burning Rock Biotech Limited.

							
	 Name of
Shareholder:
	  	ID number/Unified Social
Credit Code	 	 Capital injected
	  	 Equity pledged

	ZHOU Dan	  	***	 	 Capital Contribution Certificate : code 005

Capital injected: RMB209,500.62    % of registered capital : 2.71%
	  	Such 2.71% of the equity held by ZHOU Dan has all been pledged to Beijing Burning Rock Biotech Limited.
				
	SHAO Liang	  	***	 	 Capital Contribution Certificate : code 006

Capital injected: RMB132,885    % of registered capital : 1.72%
	  	Such 1.72% of the equity held by SHAO Liang has all been pledged to Beijing Burning Rock Biotech Limited.
				
	SI Peijing	  	***	 	 Capital Contribution Certificate : code 007

Capital injected: RMB150,337    % of registered capital : 1.95%
	  	Such 1.95% of the equity held by SI Peijing has all been pledged to Beijing Burning Rock Biotech Limited.
				
	CHUAI Shaokun	  	***	 	 Capital Contribution Certificate : code 008

Capital injected: RMB245,790    % of registered capital : 3.18%
	  	Such 3.18% of the equity held by CHUAI Shaokun has all been pledged to Beijing Burning Rock Biotech Limited.
				
	YIN Dong	  	***	 	 Capital Contribution Certificate : code 009

Capital injected: RMB34,973    % of registered capital : 0.45%
	  	Such 0.45% of the equity held by YIN Dong has all been pledged to Beijing Burning Rock Biotech Limited.

							
	 Name of
Shareholder:
	  	ID number/ Unified Social
Credit Code	 	 Capital injected
	  	 Equity pledged

	ZHAO Jin	  	***	 	 Capital Contribution Certificate : code 010

Capital injected: RMB676,723    % of registered capital : 8.76%
	  	Such 8.76% of the equity held by ZHAO Jin has all been pledged to Beijing Burning Rock Biotech Limited.
				
	Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership)	  	91440300359751396F	 	 Capital Contribution Certificate : code 011

Capital injected: RMB461,024    % of registered capital : 5.97%
	  	Such 5.97% of the equity held by Growth No. 12 Investment (Shenzhen) Partnership (Limited Partnership) has all been pledged to Beijing Burning Rock Biotech Limited.
				
	Beijing Boleyou Management Consultation Center (Limited Partnership)	  	91110105MA01N1BX62	 	 Capital Contribution Certificate : code 012

Capital injected: RMB73,273.41    % of registered
capital : 0.95%
	  	Such 0.95% of the equity held by Beijing Boleyou Management Consultation Center (Limited Partnership) has all been pledged to Beijing Burning Rock Biotech Limited.

 The Company: Burning Rock (Beijing) Biotechnology Co., Ltd. 

Legal Representative : /s/ HAN Yusheng

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