What are HEIF and its shining points and drawbacks?

HEIF, which stands for High Efficiency Image File Format, is a modern image format that offers improved compression and quality over traditional formats like JPEG. HEIF can store high-quality images at about half the file size of JPEGs, making it more efficient in terms of storage, with better compression results. However, the popularity of HEIF is not enough, which owns not too good compatibility and is only supported in several models of the Xiaomi smartphones. Some third-party software will convert HEIF images to other formats when transferring them, which will cause some photo information (time, geographic location, etc.) to be lost.