Burning Rock Biotech Limited 1Q2023 results Nasdaq and LSE: BNR 30 May 2023 Disclaimer This presentation has been prepared by Burning Rock Biotech Limited (the "Company") solely for information purpose and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, advisers, or representatives as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of the information or op ...

Burning Rock Biotech Limited (NASDAQ:BNR) Q1 2023 Earnings Conference Call May 30, 2023 8:00 AM ET Company Participants Yusheng Han - Founder, Chairman & CEO Leo Li - CFO Joe Zhang - CTO Conference Call Participants Alexis Yan - Morgan Stanley Operator Good day, and thank you, for standing by. Welcome to the Burning Rock’s 2023 Q1 Earnings Conference Call. Before we begin, I’d like to remind you that this conference call contains forward-looking statements within the meaning of Section 21(e) of the Securiti ...

Exhibit 99.1 Burning Rock Reports First Quarter 2023 Financial Results GUANGZHOU, China, May 30, 2023—Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR, the "Company" or "Burning Rock"), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended March 31, 2023. Recent Business Updates • Minimal Residual Disease (MRD) • Results of the MEDAL (MEthylation Based Dynamic Analysis for Lung ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of April 2023 Commission File Number: 001-39316 BURNING ROCK BIOTECH LIMITED (Registrant's Name) No.5 Xingdao Ring Road North, International Bio Island Guangzhou, Guangdong People's Republic of China (Address of principal executive offices) Indicate by check mark whether the registrant files or will file an ...

PART I [ITEM 3. KEY INFORMATION](index=7&type=section&id=ITEM%203.%20KEY%20INFORMATION) The company's operations face principal risks from PRC regulations, its VIE structure, and U.S. compliance requirements - The company's operations are subject to significant PRC legal and operational risks, including potential government intervention, evolving data security laws, and new regulations on overseas listings, which could **materially impact business and security value**[15](index=15&type=chunk)[16](index=16&type=chunk)[17](index=17&type=chunk) - Burning Rock operates through a **VIE structure** to comply with PRC restrictions on foreign investment; this structure relies on contractual arrangements that may not be as effective as direct ownership and face risks of being deemed **non-compliant** by PRC authorities[28](index=28&type=chunk)[135](index=135&type=chunk)[136](index=136&type=chunk) - The company was identified as a **"Commission-Identified Issuer"** under the HFCA Act in May 2022 but **does not expect to be identified** as such after filing this annual report, following renewed PCAOB inspection access in China[32](index=32&type=chunk)[33](index=33&type=chunk)[231](index=231&type=chunk) VIE and Subsidiaries - Results of Operations (RMB in thousands) | Year Ended December 31, | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | | **Revenues** | 432,142 | 526,071 | 557,667 | | **Net loss** | 244,765 | 508,803 | 605,934 | VIE and Subsidiaries - Financial Position (RMB in thousands) | As of December 31, | 2021 | 2022 | | :--- | :--- | :--- | | **Total current assets** | 556,212 | 917,663 | | **Total assets** | 659,444 | 1,016,259 | | **Total liabilities** | 1,215,466 | 1,897,909 | | **Total shareholders' (deficit) equity** | (556,022) | (881,650) | VIE and Subsidiaries - Cash Flows (RMB in thousands) | Year Ended December 31, | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | | **Net cash from/(used in) operating activities** | 158,563 | (257,506) | (139,381) | | **Net cash used in investing activities** | (9,795) | (11,265) | (37,088) | | **Net cash (used in)/from financing activities** | (30,880) | 304,623 | 377,630 | [ITEM 4. INFORMATION ON THE COMPANY](index=56&type=section&id=ITEM%204.%20INFORMATION%20ON%20THE%20COMPANY) Burning Rock is a leading NGS-based cancer therapy selection provider in China with a dual commercial model and a VIE structure [A. History and Development of the Company](index=56&type=section&id=A.%20History%20and%20Development%20of%20the%20Company) Founded in 2014, the company established a VIE structure, went public on NASDAQ in 2020, and listed on the LSE in 2022 - Commenced operations in 2014 through a **VIE structure** to facilitate foreign investment[287](index=287&type=chunk) - Completed its IPO on NASDAQ in June 2020, raising net proceeds of **US$234.9 million**, and concurrently raised **US$25 million** in a private placement[288](index=288&type=chunk) - Listed on the London Stock Exchange in November 2022 and completed a **US$10 million share repurchase program**[289](index=289&type=chunk) [B. Business Overview](index=57&type=section&id=B.%20Business%20Overview) The company leads China's NGS-based cancer therapy selection market through a dual central-lab and in-hospital model - The company operates a dual commercial model: a central laboratory that has served over **6,004 physicians from 802 hospitals**, and an in-hospital model with **77 partner hospitals** as of year-end 2022[295](index=295&type=chunk)[366](index=366&type=chunk) - Key proprietary technologies include **HS library preparation** for low-quality samples, **UMI technology** for liquid biopsy sensitivity, and targeted DNA methylation-based technologies (**brELSA™ and brMERMAID™**) for early cancer detection[300](index=300&type=chunk)[303](index=303&type=chunk)[311](index=311&type=chunk) - The early detection product, **OverC™ Multi-Cancer Detection Blood Test**, was granted **Breakthrough Device Designation by the FDA** in January 2023 for detecting five cancer types in average-risk adults[294](index=294&type=chunk)[342](index=342&type=chunk) Central Laboratory Model - Key Operating Data | Year Ended December 31, | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | | **Number of patients tested** | 25,262 | 28,199 | 27,353 | | **Number of ordering physicians** | 1,318 | 1,105 | 949 | | **Number of ordering hospitals** | 312 | 339 | 272 | In-Hospital Model - Cumulative Partner Hospitals | As of December 31, | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | | **Contracted partner hospitals** | 29 | 41 | 49 | | **Total number of partner hospitals** | 52 | 64 | 77 | [C. Organizational Structure](index=88&type=section&id=C.%20Organizational%20Structure) A VIE structure enables operations by navigating PRC restrictions on foreign investment in genomic diagnosis technology - The **VIE structure** is necessary because foreign ownership is prohibited in businesses involving the development and application of genomic diagnosis and treatment technology in China[466](index=466&type=chunk) - Key contractual arrangements that provide control include: **Exclusive Business Cooperation Agreement**, **Exclusive Option Agreement**, **Equity Interest Pledge Agreement**, and **Power of Attorney**[467](index=467&type=chunk)[469](index=469&type=chunk)[473](index=473&type=chunk)[474](index=474&type=chunk) [ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS](index=91&type=section&id=ITEM%205.%20OPERATING%20AND%20FINANCIAL%20REVIEW%20AND%20PROSPECTS) Revenue grew 10.9% in 2022, driven by in-hospital and pharma services, though net loss widened due to R&D investments [A. Operating Results](index=91&type=section&id=A.%20Operating%20Results) Revenues grew 10.9% in 2022, driven by in-hospital and pharma services, while gross margin declined and net loss increased Consolidated Results of Operations (RMB in thousands) | Year Ended December 31, | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | | **Total revenues** | 429,903 | 507,862 | 563,238 | | **Gross profit** | 313,922 | 364,146 | 380,039 | | **Gross Margin** | 73.1% | 71.7% | 67.5% | | **Loss from operations** | (412,405) | (797,064) | (980,407) | | **Net loss** | (407,235) | (796,697) | (971,233) | Revenue by Segment (RMB in thousands) | Year Ended December 31, 2022 | Revenue | % of Total | | :--- | :--- | :--- | | **Central laboratory business** | 314,770 | 55.9% | | **In-hospital business** | 175,296 | 31.1% | | **Pharma research and development services** | 73,172 | 13.0% | | **Total** | **563,238** | **100.0%** | - Revenue growth in 2022 was driven by a **6.2% increase** in in-hospital business and a **212.8% increase** in pharma services, while central laboratory revenue **decreased by 1.4%**[541](index=541&type=chunk) - **Net loss for 2022 increased by 21.9% to RMB 971.2 million**, primarily due to higher operating expenses for R&D, sales, and marketing[551](index=551&type=chunk) [B. Liquidity and Capital Resources](index=106&type=section&id=B.%20Liquidity%20and%20Capital%20Resources) The company maintains sufficient liquidity with RMB 905.5 million in cash, primarily from its 2020 IPO and operations - As of December 31, 2022, the company had cash and cash equivalents of **RMB 905.5 million (US$131.3 million)**[562](index=562&type=chunk) Consolidated Cash Flow Summary (RMB in thousands) | Year Ended December 31, | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | | **Net cash used in operating activities** | (73,543) | (477,886) | (456,808) | | **Net cash (used in)/from investing activities** | (109,312) | 81,697 | (7,463) | | **Net cash from/(used in) financing activities** | 2,165,719 | (52,899) | (86,239) | - **Capital expenditures were RMB 70.5 million (US$10.2 million) in 2022**, a decrease from RMB 206.9 million in 2021[576](index=576&type=chunk) [ITEM 6. DIRECTORS, SENIOR MANANGEMENT AND EMPLOYEES](index=110&type=section&id=ITEM%206.%20DIRECTORS%2C%20SENIOR%20MANANGEMENT%20AND%20EMPLOYEES) Company governance is characterized by a dual-class share structure granting the founder majority voting power - The company's founder, chairman, and CEO, Mr. Yusheng Han, beneficially owns shares representing **54.9% of the aggregate voting power** due to the dual-class share structure[636](index=636&type=chunk)[637](index=637&type=chunk) - The company implemented a **2022 Long-term Equity Incentive Plan**, authorizing up to 11,775,525 Class A ordinary shares with vesting contingent on achieving market valuation targets of **US$2 billion, US$4 billion, and US$10 billion**[606](index=606&type=chunk)[610](index=610&type=chunk)[611](index=611&type=chunk) - Total cash compensation paid to directors and executive officers in 2022 was approximately **RMB 7.2 million (US$1.0 million)**[602](index=602&type=chunk) - The total number of employees **decreased from 1,394 at the end of 2021 to 1,138 at the end of 2022**, with Sales & Marketing being the largest functional group (35.9%)[632](index=632&type=chunk)[633](index=633&type=chunk) [ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS](index=119&type=section&id=ITEM%207.%20MAJOR%20SHAREHOLDERS%20AND%20RELATED%20PARTY%20TRANSACTIONS) Key related party transactions involve the essential contractual arrangements with the VIE for China operations - The most significant related party transactions are the **contractual arrangements with the VIE** and its shareholders, which are essential for conducting business in China[641](index=641&type=chunk) - The company has granted **demand, piggyback, and Form F-3 registration rights** to its former preferred shareholders, enabling them to have their shares registered for public sale[642](index=642&type=chunk)[643](index=643&type=chunk)[645](index=645&type=chunk) [ITEM 8. FINANCIAL INFORMATION](index=120&type=section&id=ITEM%208.%20FINANCIAL%20INFORMATION) The company reports no material legal proceedings and plans to retain earnings, forgoing dividends for business expansion - The company is **not a party to any material legal or administrative proceedings**[651](index=651&type=chunk) - The company does not have any present plan to pay cash dividends and intends to **retain future earnings** to operate and expand the business[652](index=652&type=chunk) [ITEM 10. ADDITIONAL INFORMATION](index=121&type=section&id=ITEM%2010.%20ADDITIONAL%20INFORMATION) The corporate structure includes dual-class shares, with significant tax considerations and PFIC risk for U.S. shareholders - The company has a **dual-class share structure** where Class A ordinary shares have one vote per share, while Class B ordinary shares have **six votes per share** and are convertible into Class A shares[661](index=661&type=chunk) - There is a significant risk that the company might be treated as a **Passive Foreign Investment Company (PFIC)** for the current taxable year, which could result in **adverse U.S. federal income tax consequences** for U.S. holders[717](index=717&type=chunk)[719](index=719&type=chunk) - If the company is deemed a **PRC resident enterprise**, it could be subject to a **25% tax on its worldwide income**, and dividends paid to non-PRC shareholders may be subject to a **10% withholding tax**[707](index=707&type=chunk)[710](index=710&type=chunk) [ITEM 11. QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK](index=136&type=section&id=ITEM%2011.%20QUALITATIVE%20AND%20QUANTITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) Primary market risks include foreign currency exchange fluctuations and credit risk from PRC-based cash deposits - The company's primary market risk is **foreign currency exchange risk**, as most revenues and costs are denominated in RMB while a portion of cash is held in USD[756](index=756&type=chunk) - **Credit risk** is concentrated with cash and cash equivalents, with **89% held at major financial institutions in the PRC** as of December 31, 2022[753](index=753&type=chunk) - The company is **not exposed to significant interest rate risk** as it had no outstanding borrowings as of December 31, 2022[758](index=758&type=chunk) [ITEM 15. CONTROLS AND PROCEDURES](index=139&type=section&id=ITEM%2015.%20CONTROLS%20AND%20PROCEDURES) Management and the independent auditor confirmed the effectiveness of disclosure controls and internal financial reporting controls - Management concluded that the company's **disclosure controls and procedures were effective** as of December 31, 2022[773](index=773&type=chunk) - Based on the COSO framework, management concluded that the company's **internal control over financial reporting was effective** as of December 31, 2022[775](index=775&type=chunk) - The independent registered public accounting firm issued an **unqualified attestation report** on the effectiveness of the company's internal control over financial reporting as of December 31, 2022[777](index=777&type=chunk) - The company completed a share repurchase program, buying back **3,023,138 Class A ordinary shares** in the form of ADSs for a total of **US$10 million**[785](index=785&type=chunk) PART III [ITEM 17. FINANCIAL STATEMENTS](index=142&type=section&id=ITEM%2017.%20FINANCIAL%20STATEMENTS) The report includes audited consolidated financial statements with an unqualified opinion from the independent auditor Consolidated Balance Sheet Data (RMB in thousands) | As of December 31, | 2021 | 2022 | | :--- | :--- | :--- | | **Cash and cash equivalents** | 1,431,317 | 905,451 | | **Total Assets** | 2,278,587 | 1,587,467 | | **Total Liabilities** | 433,276 | 429,126 | | **Total Shareholders' Equity** | 1,845,311 | 1,158,341 | Consolidated Statement of Comprehensive Loss Data (RMB in thousands) | For the Year Ended December 31, | 2020 | 2021 | 2022 | | :--- | :--- | :--- | :--- | | **Total revenues** | 429,903 | 507,862 | 563,238 | | **Gross profit** | 313,922 | 364,146 | 380,039 | | **Loss from operations** | (412,405) | (797,064) | (980,407) | | **Net loss** | (407,235) | (796,697) | (971,233) | | **Loss per share (basic and diluted)** | (6.88) | (7.65) | (9.35) | - The independent auditor, Ernst & Young Hua Ming LLP, issued an **unqualified opinion** on the consolidated financial statements and the company's internal control over financial reporting as of December 31, 2022[801](index=801&type=chunk)[802](index=802&type=chunk) - The auditor's report highlights a **critical audit matter related to revenue recognition** for the in-hospital business, specifically the complexity in determining the standalone selling price for bundled reagent kits[809](index=809&type=chunk)

Burning Rock Biotech Limited 4Q2022 results Nasdaq and LSE: BNR 28 Mar 2023 Disclaimer This presentation has been prepared by Burning Rock Biotech Limited (the "Company") solely for information purpose and has not been independently verified. No representations, warranties or undertakings, express or implied, are made by the Company or any of its affiliates, advisers, or representatives as to, and no reliance should be placed upon, the accuracy, fairness, completeness or correctness of the information or op ...

Financial Data and Key Metrics Changes - The company achieved an 11% year-on-year revenue growth in 2022, which is considered on the high end of growth rates in the precision oncology testing industry [6][24][30] - The fourth quarter of 2022 ended with a revenue drop of only 3% year-over-year, which was better than the previously anticipated decline [23][24] - Adjusted gross profit grew by 12% in 2022, excluding noncash depreciation and amortization [26] Business Line Data and Key Metrics Changes - Therapy selection saw a 13% volume growth despite COVID challenges, driven by the in-hospital channel [7] - The MRD segment experienced a 43% increase in new contract value, reaching RMB 263 million in 2022, with over 200% revenue growth due to strong backlog execution [8] - The Pharma Service segment maintained triple-digit growth rates throughout 2022, benefiting from a strong product portfolio and regulatory approval capabilities [25] Market Data and Key Metrics Changes - The company completed a listing on the London Stock Exchange, providing an alternative venue for trading shares in case of a delisting scenario on NASDAQ [6] - The company reported resilience during COVID lockdowns, with testing operations largely unaffected, particularly in Guangzhou where the lab is located [24][29] Company Strategy and Development Direction - The primary goal for 2023 is to achieve profitability, aiming for breakeven excluding R&D expenses during a quarter [10][30] - The company plans to focus R&D spending on multi-cancer detection (MCD) while improving sales productivity in therapy selection and launching personalized MRD in top hospitals [11][12] - The company aims to maintain its leading position in MCD as the number one player in China and a top player globally [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential of the MRD segment, viewing it as a multi-year growth runway [25][31] - The company is focused on reducing its burn rate and improving operational efficiency, with a cash balance of approximately RMB 1 billion, providing a runway for three years without the need for immediate capital raises [31] Other Important Information - The company optimized its overall headcount by 25% while still delivering strong growth in non-COVID quarters [6] - The company received FDA breakthrough device designation for its MRD product, which is a significant regulatory achievement [14] Q&A Session Summary Question: Regarding the 2023 revenue growth target of 20%, how much will come from existing therapy selection versus MRD and early detection? - Management indicated that therapy selection, including tissue-based and liquid-based, will remain the main driver of growth, with MRD contributing positively as in-hospital installations are completed [35] Question: What are the key commercial milestones for MRD and early detection, and how will ROI be assessed for these investments? - Management noted that around 40 hospitals have been contracted for multi-cancer early detection, with ongoing marketing efforts to educate doctors on the product [36]

Exhibit 99.1 Burning Rock Reports Fourth Quarter and Full Year 2022 Financial Results GUANGZHOU, China, March 28, 2023—Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR, the "Company" or "Burning Rock"), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months and the year ended December 31, 2022. 2022 Business Overview and Recent Updates • Corporate • Listed on the Main Market of the Lo ...

Financial Data and Key Metrics Changes - The company recorded a 22% year-on-year revenue growth in Q3 and a strong rebound of 36% quarter-on-quarter [6] - Revenue grew 19% year-on-year in Q3, outperforming peers in the PCR space, which saw a 16% decline [17] - The company expects a revised full-year growth of 5%, down from the previously anticipated 17% due to recent COVID disruptions [24][22] Business Line Data and Key Metrics Changes - The biopharma segment revenue grew triple digits year-on-year to RMB 15 million, with a backlog increase of 38% year-on-year to RMB 198 million [7] - The in-hospital model volume grew 24% year-on-year, indicating a recovery in the hospital channel [17] - The MRD product volume more than doubled in Q3 compared to Q2, reaching 700 tests [6] Market Data and Key Metrics Changes - The company faced temporary disruptions in Chengdu and other cities due to COVID, but major markets remained stable [16] - The company noted that Guangzhou, a significant market, has seen persistent high case numbers affecting business volumes [23] Company Strategy and Development Direction - The company aims to focus on operating efficiency moving forward, with expectations of significantly reduced cash outflows in 2023 [8][21] - The management highlighted the importance of the in-hospital model for future growth, especially for MRD tests [33] - The company is transitioning towards a more targeted approach in its COVID response strategy, which is expected to facilitate future growth [24] Management Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the future, noting that the absolute number of COVID cases is likely to persist at high levels, impacting business volumes [24] - The management emphasized the importance of the PROMISE study as a successful proof of concept for their 9-cancer test, which will inform future product development [15][29] Other Important Information - The company recently listed on the London Stock Exchange to enhance its capital market position [6] - A management change was announced, with the COO transitioning to a Chief Science Officer role to focus on product development and regulatory matters [10] Q&A Session Summary Question: Impact of revised guidance on segments - Management indicated that Guangzhou's business remains intact, with less impact on the pharma segment, while the multi-cancer early detection segment faced challenges in Chongqing [28] Question: Key readouts or catalysts after PROMISE study - The management discussed ongoing internal discussions regarding product development strategy following the PROMISE study results, with strong confidence in upcoming studies [29][30] Question: MRD monitoring volumes growth expectations - Management expects continued growth in MRD volumes, particularly as the in-hospital model becomes more established [33] Question: Usage of MRD test in BeiGene collaboration - The collaboration with BeiGene is strategic, focusing on observational studies, with potential future applications in patient treatment strategies [36] Question: Drivers of biopharma contract growth - The revenue is primarily driven by Companion Diagnostics, with increasing interest from multinational companies in MRD investigations [38]

OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR ...