It is similarly priced, although R2R vs Delta Sigma for 005, so may be different audience selling to. Could also be competitor to Holo May. It will take time and more reviews to determine if real competitor.
Seems we are just starting to see more upscale, mature audio components coming out of China/Asia. I expect this will continue, perhaps even more expensive, higher reaching equipment in near future. Line Magnetic products opened up this market here, I expect Chinese/Asian products will gain more respect over time.