The "Mi Watch" is the likely name of Xiaomi's next wearable. The OEM has indicated that it is to be released on November 5, 2019, alongside the Mi TV 5 and Mi CC9 Pro. This watch is also projected to be a Wear OS device.
https://www.notebookcheck.net/Xiaomi-s-Mi-Watch-and-next-gen-Mi-TV-are-now-set-for-launch-in-November-2019.440468.0.html
Looks like a great product. Much better than the Apple Watch!