After the reforms, the company was almost reborn — completely renewed.
Tips
history
Originally a Daoist (道教) image: an aspiring immortal sheds the mortal body to take on an immortal one. The more famous variant is 脱胎换骨 (tuōtāihuàngǔ), with the same meaning and the same Daoist source.
usage
Marks transformation so deep the person/thing is essentially new. Pair it with 焕然一新 (huànrányīxīn 'taking on a brand-new look') as a stock follow-up.