long-awaited restructuring. The central bank has warned the troubled developer to reduce debt risks "proactively", a hint for founder Hui Ka Yan to speed up non-core asset sales. What will be left, though, looks disappointing.
, which had been pivoting into the movies business, and reduced the company's ownership in a media unit and a local bank, but not much more. Hui will be under pressure to speed up disposing more non-core assets. His diversification efforts have been increasingly chaotic. Over the past few years, Evergrande has veered into electric vehicles, bottled water, and online classifieds. Despite having yet to sell a single car on the market, the company admitted on Friday that it held preliminary talks with smartphone maker XiaomiWhat remains, though, will be of questionable value.