The Guangzhou Nanyue Urban Development Investment Fund was ordered to rectify by regulatory authorities.

On August 14, the Guangdong Securities Regulatory Bureau disclosed that, after investigation, Guangzhou Nanyue Urban Development Investment Fund Management Co., Ltd. had engaged in the following violations during its private fund management operations: First, while managing the Guangzhou Nanke Huaijiang Industrial Investment Fund Partnership, the company failed to diligently fulfill its responsibilities as a private fund manager, with instances where fundraising and investment operations were handled by third-party organizations; Second, after the fundraising for the Guangzhou Nanyue Morning Star Equity Investment Fund Partnership was completed, the company did not file for fund registration with the Asset Management Association of China; Third, after a change in the legal representative, the company did not promptly report this to the association; Fourth, the company failed to properly preserve the suitability materials of investors for two private funds. The Guangdong Securities Regulatory Bureau has decided to take administrative regulatory measures, ordering the company to rectify the situation. The company is required to take these matters seriously, implement effective measures for rectification, hold the responsible personnel accountable, and submit a written rectification report to the regulatory authority within 30 days of receiving the decision.