Widget promotion in Qt

With Qt Creator, you can make custom widgets with widget promotion. I have a question with what happens when you promote, for example, a QTextEdit to a custom class called "MyClass".

When you promote the QTextEdit, does the QTextEdit lose its original members that was given by Qt? Does the QTextEdit gain all the members of MyClass? What if MyClass isn't supposed to create widget with the constructor? How does that work?
I did a little more research.

So MyClass must inherit from QWidget for the widget to be promoted to MyClass. However, even though they both inherit from QWidget, I do not see how one can change to the other. Any thoughts?
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