diff --git a/CHANGELOG.md b/CHANGELOG.md
index c2bc8848..0ad8c307 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,23 @@
+# [3.2.0-beta.5](https://github.com/vuejs/vue-next/compare/v3.2.0-beta.4...v3.2.0-beta.5) (2021-07-23)
+
+
+### Bug Fixes
+
+* **hmr:** fix custom elements hmr edge cases ([bff4ea7](https://github.com/vuejs/vue-next/commit/bff4ea74c545ccc7e39f45d4db4e7c471f248b13))
+* **hmr:** fix hmr when global mixins are used ([db3f57a](https://github.com/vuejs/vue-next/commit/db3f57a39206eb33946a42bc230eb972bde61368)), closes [#4174](https://github.com/vuejs/vue-next/issues/4174)
+* **types:** fix types for readonly ref ([2581cfb](https://github.com/vuejs/vue-next/commit/2581cfb707f90bdf4128e5d481b99e7c39e198d3)), closes [#4180](https://github.com/vuejs/vue-next/issues/4180)
+* **v-model:** avoid resetting value of in-focus & lazy input ([ac74e1d](https://github.com/vuejs/vue-next/commit/ac74e1dd33a45874a96fc13efdaade613c44dd70)), closes [#4182](https://github.com/vuejs/vue-next/issues/4182)
+
+
+### Features
+
+* **compiler-sfc:** avoid exposing imports not used in template ([5a3ccfd](https://github.com/vuejs/vue-next/commit/5a3ccfd9143700c7ca82d2911fe592d0658c5393)), closes [#3183](https://github.com/vuejs/vue-next/issues/3183)
+* **runtime-dom:** hmr for custom elements ([7a7e1d8](https://github.com/vuejs/vue-next/commit/7a7e1d8e9fed27bc2dbf24076642e83d0c80d9af))
+* **runtime-dom:** support passing initial props to custom element constructor ([5b76843](https://github.com/vuejs/vue-next/commit/5b76843b693d6477ae44b4bd238c2c892d8f4c77))
+* **runtime-dom:** support specifying shadow dom styles in defineCustomElement ([a7fa4ac](https://github.com/vuejs/vue-next/commit/a7fa4ac28afb73be00503be87f35e8724fe25443))
+
+
+
 # [3.2.0-beta.4](https://github.com/vuejs/vue-next/compare/v3.2.0-beta.3...v3.2.0-beta.4) (2021-07-21)
 
 
diff --git a/package.json b/package.json
index 89913226..7fbfaeaf 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "private": true,
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "workspaces": [
     "packages/*"
   ],
diff --git a/packages/compiler-core/package.json b/packages/compiler-core/package.json
index 23a2666e..7a1914cf 100644
--- a/packages/compiler-core/package.json
+++ b/packages/compiler-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-core",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/compiler-core",
   "main": "index.js",
   "module": "dist/compiler-core.esm-bundler.js",
@@ -32,7 +32,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-core#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
+    "@vue/shared": "3.2.0-beta.5",
     "@babel/parser": "^7.12.0",
     "@babel/types": "^7.12.0",
     "estree-walker": "^2.0.1",
diff --git a/packages/compiler-dom/package.json b/packages/compiler-dom/package.json
index c5267810..4482eb40 100644
--- a/packages/compiler-dom/package.json
+++ b/packages/compiler-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-dom",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/compiler-dom",
   "main": "index.js",
   "module": "dist/compiler-dom.esm-bundler.js",
@@ -37,7 +37,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-dom#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
-    "@vue/compiler-core": "3.2.0-beta.4"
+    "@vue/shared": "3.2.0-beta.5",
+    "@vue/compiler-core": "3.2.0-beta.5"
   }
 }
diff --git a/packages/compiler-sfc/package.json b/packages/compiler-sfc/package.json
index 0c9e22cc..64076b72 100644
--- a/packages/compiler-sfc/package.json
+++ b/packages/compiler-sfc/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-sfc",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/compiler-sfc",
   "main": "dist/compiler-sfc.cjs.js",
   "types": "dist/compiler-sfc.d.ts",
@@ -34,10 +34,10 @@
     "@babel/parser": "^7.13.9",
     "@babel/types": "^7.13.0",
     "@types/estree": "^0.0.48",
-    "@vue/compiler-core": "3.2.0-beta.4",
-    "@vue/compiler-dom": "3.2.0-beta.4",
-    "@vue/compiler-ssr": "3.2.0-beta.4",
-    "@vue/shared": "3.2.0-beta.4",
+    "@vue/compiler-core": "3.2.0-beta.5",
+    "@vue/compiler-dom": "3.2.0-beta.5",
+    "@vue/compiler-ssr": "3.2.0-beta.5",
+    "@vue/shared": "3.2.0-beta.5",
     "consolidate": "^0.16.0",
     "estree-walker": "^2.0.1",
     "hash-sum": "^2.0.0",
diff --git a/packages/compiler-ssr/package.json b/packages/compiler-ssr/package.json
index 8d03b5d4..1ed82a0f 100644
--- a/packages/compiler-ssr/package.json
+++ b/packages/compiler-ssr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-ssr",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/compiler-ssr",
   "main": "dist/compiler-ssr.cjs.js",
   "types": "dist/compiler-ssr.d.ts",
@@ -28,7 +28,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-ssr#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
-    "@vue/compiler-dom": "3.2.0-beta.4"
+    "@vue/shared": "3.2.0-beta.5",
+    "@vue/compiler-dom": "3.2.0-beta.5"
   }
 }
diff --git a/packages/reactivity/package.json b/packages/reactivity/package.json
index c4cd101e..e109ae2a 100644
--- a/packages/reactivity/package.json
+++ b/packages/reactivity/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/reactivity",
   "main": "index.js",
   "module": "dist/reactivity.esm-bundler.js",
@@ -36,6 +36,6 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/reactivity#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4"
+    "@vue/shared": "3.2.0-beta.5"
   }
 }
diff --git a/packages/runtime-core/package.json b/packages/runtime-core/package.json
index 5055a02b..41aaeeaa 100644
--- a/packages/runtime-core/package.json
+++ b/packages/runtime-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-core",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/runtime-core",
   "main": "index.js",
   "module": "dist/runtime-core.esm-bundler.js",
@@ -32,7 +32,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/runtime-core#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
-    "@vue/reactivity": "3.2.0-beta.4"
+    "@vue/shared": "3.2.0-beta.5",
+    "@vue/reactivity": "3.2.0-beta.5"
   }
 }
diff --git a/packages/runtime-dom/package.json b/packages/runtime-dom/package.json
index 85c66f6e..a1ccb096 100644
--- a/packages/runtime-dom/package.json
+++ b/packages/runtime-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-dom",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/runtime-dom",
   "main": "index.js",
   "module": "dist/runtime-dom.esm-bundler.js",
@@ -35,8 +35,8 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/runtime-dom#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
-    "@vue/runtime-core": "3.2.0-beta.4",
+    "@vue/shared": "3.2.0-beta.5",
+    "@vue/runtime-core": "3.2.0-beta.5",
     "csstype": "^2.6.8"
   }
 }
diff --git a/packages/runtime-test/package.json b/packages/runtime-test/package.json
index aad54cf7..d19b06fd 100644
--- a/packages/runtime-test/package.json
+++ b/packages/runtime-test/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-test",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/runtime-test",
   "private": true,
   "main": "index.js",
@@ -25,7 +25,7 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/runtime-test#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
-    "@vue/runtime-core": "3.2.0-beta.4"
+    "@vue/shared": "3.2.0-beta.5",
+    "@vue/runtime-core": "3.2.0-beta.5"
   }
 }
diff --git a/packages/server-renderer/package.json b/packages/server-renderer/package.json
index 35f4d351..78262ce0 100644
--- a/packages/server-renderer/package.json
+++ b/packages/server-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/server-renderer",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "@vue/server-renderer",
   "main": "index.js",
   "types": "dist/server-renderer.d.ts",
@@ -28,10 +28,10 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/server-renderer#readme",
   "peerDependencies": {
-    "vue": "3.2.0-beta.4"
+    "vue": "3.2.0-beta.5"
   },
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
-    "@vue/compiler-ssr": "3.2.0-beta.4"
+    "@vue/shared": "3.2.0-beta.5",
+    "@vue/compiler-ssr": "3.2.0-beta.5"
   }
 }
diff --git a/packages/sfc-playground/package.json b/packages/sfc-playground/package.json
index 1dc1a662..081fd165 100644
--- a/packages/sfc-playground/package.json
+++ b/packages/sfc-playground/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/sfc-playground",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "private": true,
   "scripts": {
     "dev": "vite",
diff --git a/packages/shared/package.json b/packages/shared/package.json
index fc9c46df..b6d1a83e 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/shared",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "internal utils shared across @vue packages",
   "main": "index.js",
   "module": "dist/shared.esm-bundler.js",
diff --git a/packages/size-check/package.json b/packages/size-check/package.json
index abea2b6b..47e69831 100644
--- a/packages/size-check/package.json
+++ b/packages/size-check/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/size-check",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "private": true,
   "buildOptions": {
     "name": "Vue",
diff --git a/packages/template-explorer/package.json b/packages/template-explorer/package.json
index 9555329a..1a662a54 100644
--- a/packages/template-explorer/package.json
+++ b/packages/template-explorer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/template-explorer",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "private": true,
   "buildOptions": {
     "formats": [
diff --git a/packages/vue-compat/package.json b/packages/vue-compat/package.json
index 6a1728ea..825a81db 100644
--- a/packages/vue-compat/package.json
+++ b/packages/vue-compat/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compat",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "Vue 3 compatibility build for Vue 2",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
@@ -38,6 +38,6 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/vue-compat#readme",
   "peerDependencies": {
-    "vue": "3.2.0-beta.4"
+    "vue": "3.2.0-beta.5"
   }
 }
diff --git a/packages/vue/package.json b/packages/vue/package.json
index 30e0bfe8..267ab9a4 100644
--- a/packages/vue/package.json
+++ b/packages/vue/package.json
@@ -1,6 +1,6 @@
 {
   "name": "vue",
-  "version": "3.2.0-beta.4",
+  "version": "3.2.0-beta.5",
   "description": "The progressive JavaScript framework for buiding modern web UI.",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
@@ -37,9 +37,9 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/vue#readme",
   "dependencies": {
-    "@vue/shared": "3.2.0-beta.4",
-    "@vue/compiler-dom": "3.2.0-beta.4",
-    "@vue/runtime-dom": "3.2.0-beta.4"
+    "@vue/shared": "3.2.0-beta.5",
+    "@vue/compiler-dom": "3.2.0-beta.5",
+    "@vue/runtime-dom": "3.2.0-beta.5"
   },
   "devDependencies": {
     "lodash": "^4.17.15",