SEC FORM 3

SEC FORM 3 SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Hu Xiaozhi

(Last)

(First)

(Middle)

NO. 5, XINGDAO RING ROAD NORTH

(Street)

GUANGZHOU

510005

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
Burning Rock Biotech Ltd [ BNR ]

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

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

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
OPTIONS (RIGHT TO BUY)	⁽¹⁾	04/30/2032	Ordinary Shares	3,097	$0.0002⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽²⁾	09/26/2032	Ordinary Shares	7,850	$3.33⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽³⁾	09/26/2032	Ordinary Shares	11,776	$3.33⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽⁴⁾	09/26/2032	Ordinary Shares	7,850	$3.33⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽⁵⁾	09/26/2032	Ordinary Shares	11,776	$3.33⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽⁶⁾	09/26/2032	Ordinary Shares	7,850	$3.33⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽⁷⁾	09/26/2032	Ordinary Shares	11,776	$3.33⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽⁸⁾	04/30/2033	Ordinary Shares	29,239	$0.0002⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽⁹⁾	04/30/2034	Ordinary Shares	19,000	$0.0002⁽¹¹⁾	D
OPTIONS (RIGHT TO BUY)	⁽¹⁰⁾	04/30/2035	Ordinary Shares	36,000	$0.0002⁽¹¹⁾	D

Explanation of Responses:

1. On April 30, 2022, the Reporting Person was granted 12,389 share options, with 50%, 25% and 25% of the granted share options vesting on January 1, 2024, January 1, 2025 and January 1, 2026, respectively, subject to: (a) the Reporting Person's continued employment, and (b) the annual performance rating of the Reporting Person reaching at least 3.3 for each year from 2022 to 2025.

2. On September 26, 2022, the Reporting Person was granted 7,850 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$2 billion by the fifth anniversary of the date of grant (the "valuation target"), and (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved.

3. On September 26, 2022, the Reporting Person was granted 11,776 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$2 billion by the fifth anniversary of the date of grant (the "valuation target"), (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved, and (c) the Reporting Person has been employed by the Issuer for five years from the date of grant.

4. On September 26, 2022, the Reporting Person was granted 7,850 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$4 billion by the seventh anniversary of the date of grant (the "valuation target"), and (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved.

5. On September 26, 2022, the Reporting Person was granted 11,776 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$4 billion by the seventh anniversary of the date of grant (the "valuation target"), (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved, and (c) the Reporting Person has been employed by the Issuer for five years from the date of grant.

6. On September 26, 2022, the Reporting Person was granted 7,850 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$10 billion by the seventh anniversary of the date of grants (the "valuation target"), and (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved.

7. On September 26, 2022, the Reporting Person was granted 11,776 share options, which will vest once (a) the valuation of the Issuer (based on the 60-day average closing share price of its publicly traded shares) reaches US$10 billion by the seventh anniversary of the date of grants (the "valuation target"), (b) the Reporting Person remains employed by the Issuer at the time when the valuation target is achieved, and (c) the Reporting Person has been employed by the Issuer for five years from the date of grant.

8. On April 30, 2023, the Reporting Person was granted 58,477 share options, with 50%, 25% and 25% of the granted share options vesting on January 1, 2025, January 1, 2026 and January 1, 2027, respectively, subject to: (a) the Reporting Person's continued employment, and (b) the annual performance rating of the Reporting Person reaching at least 3.3 for each year from 2023 to 2026.

9. On April 30, 2024, the Reporting Person was granted 19,000 share options, with 50%, 25% and 25% of the granted share options vesting on January 1, 2026, January 1, 2027 and January 1, 2028, respectively, subject to: (a) the Reporting Person's continued employment, and (b) the annual performance rating of the Reporting Person reaching at least 3.3 for the year of 2024.

10. On April 30, 2025, the Reporting Person was granted 36,000 share options, with 50%, 25% and 25% of the granted share options vesting on January 1, 2027, January 1, 2028 and January 1, 2029, respectively, subject to: (a) the Reporting Person's continued employment, and (b) the annual performance rating of the Reporting Person reaching at least 3.3 for the year of 2025.

11. Each share option represents the right to receive, upon exercise, one ordinary share.

Remarks:

Exhibit 24 (Power of Attorney)

	/s/ Yuheng Huang, Attorney-in-Fact for Xiaozhi Hu	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

SEC Form 3 filed by new insider Hu Xiaozhi