I just got my MW200! I tried with my Andromeda 2020 and I am blown away by the sound! I feel that with the MW200 in LDAC on S20 Ultra is as close as I can get to wired quality! It is very similar to what I get from USB DAC dongles in the league of Meizu HD/MU3/Sonata, way better than any of the budget Realtek stuff. But a little short when compared to higher end USB DACs like the ES9280/9281C.
Background is noise free for me, very good bass impact, and clear vocals and musical instruments. In short, Andromeda 2020 on the MW200 sounds like an Andromeda should, not some muffled ear piece.
I had both of the Fiio (LC and the utws) before and they are no comparison to the MW200! To top it off, the MW200 takes type C charging, which I like as all my devices are type c based.
And the companion app allows firmware updates very easily.
All in all, a great job Shanling! My fiios are in the dumpster at the moment.
I will be trying the MW200 with my Andromeda S and Gold when I have time tomorrow. I am so looking forward to testing them with the MW200!