Xiaomi Mi Watch Lite (not official name) has been allegedly spotted on UL (Demko) certification website and it could be a rebranded Redmi Watch. The listing was shared by a known tipster on Twitter and the Mi Watch Lite appears to be a toned down and more affordable version of the Mi Watch that launched in China back in November of last year.

source https://gadgets.ndtv.com/wearables/news/xiaomi-mi-watch-lite-redmi-ul-demko-listing-rebranded-report-2300875#rss-gadgets-all