Taxus chinensis is because its seeds are like red beans and belong to the genus Red Bean. Doesn't mean that the wood is red. Don't be misled. Generally, normal Chinese fir or bracelets are reddish with yellow. Some are not obvious yet.
Why does it turn red? I think it's because of the change of the surface. For example, many beads will glow after playing, which is because you played, so they turned red.