The AYANEO NEXT LITE is a seven-inch 800p screen and a 15W AMD processor with 7nm Zen 2 core you can choose between the AMD Ryzen 5 4500U or Ryzen 7 4800U. These are pretty old processors compared to what the Steam Deck offers currently. The Starting price is going to be $299 and AYANEO is saying that you should be able to subscribe to it later this month. This device will be running a third-party Steam OS called Holoiso, so it won't have Valve's official support. It Also has a 47Wh battery which should provide a decent battery life for this device.
As disappointing as the internals are, I would have to say I do like the look of this device. The NEXT LITE also seems to be sporting 3 USB-C 3.2 Gen 2 ports, which is something that none of its competitors are offering. It'll be interesting to see how the gameplay performance of this device is when you compare it to something like the Steam Deck.
You can see the AYANEO NEXT LITE product page here