To undergo a profound and thorough transformation, completely changing one's nature, character, or mindset, often for the better; to be reborn or renewed (originally a Taoist concept of shedding the mortal body for an immortal one).
这家老牌企业在经历了一系列改革后，如同脱骨换胎，重新焕发了强大的竞争力。
After a series of reforms, this established enterprise has undergone a complete transformation, regaining strong competitiveness.
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