On August 14, the Guangdong Securities Regulatory Bureau revealed that after investigation, Guangzhou Nanyue City Development Investment Fund Management Co., Ltd. had the following irregularities in carrying out private investment fund management business: first, the legal representative did not carefully and diligently fulfill the responsibilities of a private equity fund manager in the process of managing the Guangzhou Nanke Huaijiang Industrial Investment Fund partnership, and there were situations where a third party agency was responsible for capital raising, investment operation, etc.; second, the managed Guangzhou Nanyue Chenxing Equity Investment Fund partnership did not go through fund filing procedures with the China Investment Securities Fund Industry Association after it had raised funds; 3. Report promptly to the China Foundation Association; fourth, investor suitability materials for the two private equity funds were not properly kept. The Guangdong Securities Regulatory Bureau decided to take administrative supervision measures to order corrections against the company, and requested that the company should pay great attention, take effective measures, rectify existing problems, hold those responsible to account, and submit a written rectification report to the supervisory authority within 30 days from the date of receipt of the decision.

On August 14, the Guangdong Securities Regulatory Bureau revealed that after investigation, Guangzhou Nanyue City Development Investment Fund Management Co., Ltd. had the following irregularities in carrying out private investment fund management business: first, the legal representative did not carefully and diligently fulfill the responsibilities of a private equity fund manager in the process of managing the Guangzhou Nanke Huaijiang Industrial Investment Fund partnership, and there were situations where a third party agency was responsible for capital raising, investment operation, etc.; second, the managed Guangzhou Nanyue Chenxing Equity Investment Fund partnership did not go through fund filing procedures with the China Investment Securities Fund Industry Association after it had raised funds; 3. Report promptly to the China Foundation Association; fourth, investor suitability materials for the two private equity funds were not properly kept. The Guangdong Securities Regulatory Bureau decided to take administrative supervision measures to order corrections against the company, and requested that the company should pay great attention, take effective measures, rectify existing problems, hold those responsible to account, and submit a written rectification report to the supervisory authority within 30 days from the date of receipt of the decision.