diff --git a/CHANGELOG.md b/CHANGELOG.md
index 59a92f8f..98d327c5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,30 @@
+## [3.2.25](https://github.com/vuejs/vue-next/compare/v3.2.24...v3.2.25) (2021-12-12)
+
+
+### Bug Fixes
+
+* **compiler-sfc:** generate valid TS in script and script setup co-usage with TS ([7e4f0a8](https://github.com/vuejs/vue-next/commit/7e4f0a869498e7dce601e7c150f402045ea2e79b)), closes [#5094](https://github.com/vuejs/vue-next/issues/5094)
+* **compiler:** force block for custom dirs and inline beforeUpdate hooks ([1c9a481](https://github.com/vuejs/vue-next/commit/1c9a4810fcdd2b6c1c6c3be077aebbecbfcbcf1e))
+* **runtime-core:** disallow recurse in vnode/directive beforeUpdate hooks ([a1167c5](https://github.com/vuejs/vue-next/commit/a1167c57e5514be57505f4bce8d163aa1f92cf14))
+
+
+### Features
+
+* **compiler-core:** support aliasing vue: prefixed events to inline vnode hooks ([4b0ca87](https://github.com/vuejs/vue-next/commit/4b0ca8709a7e2652f4b02665f378d47ba4dbe969))
+* **experimental:** allow const for ref sugar declarations ([9823bd9](https://github.com/vuejs/vue-next/commit/9823bd95d11f22f0ae53f5e0b705a21b6e6e8859))
+* **reactivity-transform/types:** restructure macro types + export types for all shorthand methods ([db729ce](https://github.com/vuejs/vue-next/commit/db729ce99eb13cd18dad600055239c63edd9cfb8))
+* **reactivity-transform:** $$() escape for destructured prop bindings ([198ca14](https://github.com/vuejs/vue-next/commit/198ca14f192f9eb80028153f3d36600e636de3f0))
+* **reactivity-transform:** rename @vue/ref-transform to @vue/reactivity-transform ([d70fd8d](https://github.com/vuejs/vue-next/commit/d70fd8d36b23c987f2ebe3280da785f4d2e7d2ef))
+* **reactivity-transform:** support $-shorthands for all ref-creating APIs ([179fc05](https://github.com/vuejs/vue-next/commit/179fc05a8406eac525c8450153b42fcb5af7d6bb))
+* **reactivity-transform:** support optionally importing macros ([fbd0fe9](https://github.com/vuejs/vue-next/commit/fbd0fe97595f759e12e445c713b732775589fabf))
+* **reactivity-transform:** use toRef() for $() destructure codegen ([93ba6b9](https://github.com/vuejs/vue-next/commit/93ba6b974e4a2ff4ba004fef47ef69cfe980c654))
+* **reactivity:** support default value in toRef() ([2db9c90](https://github.com/vuejs/vue-next/commit/2db9c909c2cf3845f57b2c930c05cd6c17abe3b0))
+* **sfc-playground:** add github link ([#5067](https://github.com/vuejs/vue-next/issues/5067)) ([9ac0dde](https://github.com/vuejs/vue-next/commit/9ac0ddea4beec1a1c4471463d3476ccd019bd84e))
+* **sfc-playground:** prevent ctrl+s default behavior ([#5066](https://github.com/vuejs/vue-next/issues/5066)) ([b027507](https://github.com/vuejs/vue-next/commit/b0275070e4824c5efa868528f610eaced83d8fbc))
+* support ref in v-for, remove compat deprecation warnings ([41c18ef](https://github.com/vuejs/vue-next/commit/41c18effea9dd32ab899b5de3bb0513abdb52ee4))
+
+
+
 ## [3.2.24](https://github.com/vuejs/vue-next/compare/v3.2.23...v3.2.24) (2021-12-06)
 
 
diff --git a/package.json b/package.json
index ba116c77..143a0b3f 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "private": true,
-  "version": "3.2.24",
+  "version": "3.2.25",
   "scripts": {
     "dev": "node scripts/dev.js",
     "build": "node scripts/build.js",
diff --git a/packages/compiler-core/package.json b/packages/compiler-core/package.json
index dc9d91b5..c0e2e3aa 100644
--- a/packages/compiler-core/package.json
+++ b/packages/compiler-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-core",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24",
+    "@vue/shared": "3.2.25",
     "@babel/parser": "^7.16.4",
     "estree-walker": "^2.0.2",
     "source-map": "^0.6.1"
diff --git a/packages/compiler-dom/package.json b/packages/compiler-dom/package.json
index d4d4858e..27fa3fe2 100644
--- a/packages/compiler-dom/package.json
+++ b/packages/compiler-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-dom",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24",
-    "@vue/compiler-core": "3.2.24"
+    "@vue/shared": "3.2.25",
+    "@vue/compiler-core": "3.2.25"
   }
 }
diff --git a/packages/compiler-sfc/package.json b/packages/compiler-sfc/package.json
index f064adc7..8e80bc4e 100644
--- a/packages/compiler-sfc/package.json
+++ b/packages/compiler-sfc/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-sfc",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "description": "@vue/compiler-sfc",
   "main": "dist/compiler-sfc.cjs.js",
   "module": "dist/compiler-sfc.esm-browser.js",
@@ -33,11 +33,11 @@
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/compiler-sfc#readme",
   "dependencies": {
     "@babel/parser": "^7.16.4",
-    "@vue/compiler-core": "3.2.24",
-    "@vue/compiler-dom": "3.2.24",
-    "@vue/compiler-ssr": "3.2.24",
-    "@vue/reactivity-transform": "3.2.24",
-    "@vue/shared": "3.2.24",
+    "@vue/compiler-core": "3.2.25",
+    "@vue/compiler-dom": "3.2.25",
+    "@vue/compiler-ssr": "3.2.25",
+    "@vue/reactivity-transform": "3.2.25",
+    "@vue/shared": "3.2.25",
     "estree-walker": "^2.0.2",
     "magic-string": "^0.25.7",
     "source-map": "^0.6.1",
diff --git a/packages/compiler-ssr/package.json b/packages/compiler-ssr/package.json
index 3e5aa4da..19095b65 100644
--- a/packages/compiler-ssr/package.json
+++ b/packages/compiler-ssr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-ssr",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24",
-    "@vue/compiler-dom": "3.2.24"
+    "@vue/shared": "3.2.25",
+    "@vue/compiler-dom": "3.2.25"
   }
 }
diff --git a/packages/reactivity-transform/package.json b/packages/reactivity-transform/package.json
index 814e09cf..2818aef3 100644
--- a/packages/reactivity-transform/package.json
+++ b/packages/reactivity-transform/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity-transform",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "description": "@vue/reactivity-transform",
   "main": "dist/reactivity-transform.cjs.js",
   "files": [
@@ -29,8 +29,8 @@
   "homepage": "https://github.com/vuejs/vue-next/tree/dev/packages/reactivity-transform#readme",
   "dependencies": {
     "@babel/parser": "^7.16.4",
-    "@vue/compiler-core": "3.2.24",
-    "@vue/shared": "3.2.24",
+    "@vue/compiler-core": "3.2.25",
+    "@vue/shared": "3.2.25",
     "estree-walker": "^2.0.2",
     "magic-string": "^0.25.7"
   },
diff --git a/packages/reactivity/package.json b/packages/reactivity/package.json
index 84fafe03..2fee4099 100644
--- a/packages/reactivity/package.json
+++ b/packages/reactivity/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24"
+    "@vue/shared": "3.2.25"
   }
 }
diff --git a/packages/runtime-core/package.json b/packages/runtime-core/package.json
index f7c87f8a..f2e6687d 100644
--- a/packages/runtime-core/package.json
+++ b/packages/runtime-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-core",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24",
-    "@vue/reactivity": "3.2.24"
+    "@vue/shared": "3.2.25",
+    "@vue/reactivity": "3.2.25"
   }
 }
diff --git a/packages/runtime-dom/package.json b/packages/runtime-dom/package.json
index bb563abe..a7bd426e 100644
--- a/packages/runtime-dom/package.json
+++ b/packages/runtime-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-dom",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24",
-    "@vue/runtime-core": "3.2.24",
+    "@vue/shared": "3.2.25",
+    "@vue/runtime-core": "3.2.25",
     "csstype": "^2.6.8"
   }
 }
diff --git a/packages/runtime-test/package.json b/packages/runtime-test/package.json
index 750c3d6a..277e3c64 100644
--- a/packages/runtime-test/package.json
+++ b/packages/runtime-test/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-test",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24",
-    "@vue/runtime-core": "3.2.24"
+    "@vue/shared": "3.2.25",
+    "@vue/runtime-core": "3.2.25"
   }
 }
diff --git a/packages/server-renderer/package.json b/packages/server-renderer/package.json
index 8b2e02c3..8db3525f 100644
--- a/packages/server-renderer/package.json
+++ b/packages/server-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/server-renderer",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "description": "@vue/server-renderer",
   "main": "index.js",
   "module": "dist/server-renderer.esm-bundler.js",
@@ -31,10 +31,10 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/server-renderer#readme",
   "peerDependencies": {
-    "vue": "3.2.24"
+    "vue": "3.2.25"
   },
   "dependencies": {
-    "@vue/shared": "3.2.24",
-    "@vue/compiler-ssr": "3.2.24"
+    "@vue/shared": "3.2.25",
+    "@vue/compiler-ssr": "3.2.25"
   }
 }
diff --git a/packages/sfc-playground/package.json b/packages/sfc-playground/package.json
index 992eaef5..b43d7cd9 100644
--- a/packages/sfc-playground/package.json
+++ b/packages/sfc-playground/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/sfc-playground",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "private": true,
   "scripts": {
     "dev": "vite",
@@ -12,7 +12,7 @@
     "vite": "^2.7.1"
   },
   "dependencies": {
-    "vue": "workspace:*",
+    "vue": "3.2.25",
     "@vue/repl": "^0.4.5",
     "file-saver": "^2.0.5",
     "jszip": "^3.6.0"
diff --git a/packages/shared/package.json b/packages/shared/package.json
index e4169142..2c6d1df6 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/shared",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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 97c02422..d372088f 100644
--- a/packages/size-check/package.json
+++ b/packages/size-check/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/size-check",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "private": true,
   "scripts": {
     "build": "vite build"
diff --git a/packages/template-explorer/package.json b/packages/template-explorer/package.json
index 8a3a905b..ef1edad2 100644
--- a/packages/template-explorer/package.json
+++ b/packages/template-explorer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/template-explorer",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "private": true,
   "buildOptions": {
     "formats": [
diff --git a/packages/vue-compat/package.json b/packages/vue-compat/package.json
index 6b2dd74a..498c5108 100644
--- a/packages/vue-compat/package.json
+++ b/packages/vue-compat/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compat",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "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": "3.2.24"
+    "vue": "3.2.25"
   }
 }
diff --git a/packages/vue/package.json b/packages/vue/package.json
index 4498bb2a..16393b13 100644
--- a/packages/vue/package.json
+++ b/packages/vue/package.json
@@ -1,6 +1,6 @@
 {
   "name": "vue",
-  "version": "3.2.24",
+  "version": "3.2.25",
   "description": "The progressive JavaScript framework for building modern web UI.",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
@@ -64,10 +64,10 @@
   },
   "homepage": "https://github.com/vuejs/vue-next/tree/master/packages/vue#readme",
   "dependencies": {
-    "@vue/shared": "3.2.24",
-    "@vue/compiler-dom": "3.2.24",
-    "@vue/runtime-dom": "3.2.24",
-    "@vue/compiler-sfc": "3.2.24",
-    "@vue/server-renderer": "3.2.24"
+    "@vue/shared": "3.2.25",
+    "@vue/compiler-dom": "3.2.25",
+    "@vue/runtime-dom": "3.2.25",
+    "@vue/compiler-sfc": "3.2.25",
+    "@vue/server-renderer": "3.2.25"
   }
 }
diff --git a/pnpm-lock.yaml b/pnpm-lock.yaml
index 8fe47876..7db0fb94 100644
--- a/pnpm-lock.yaml
+++ b/pnpm-lock.yaml
@@ -100,7 +100,7 @@ importers:
     specifiers:
       '@babel/parser': ^7.16.4
       '@babel/types': ^7.16.0
-      '@vue/shared': 3.2.24
+      '@vue/shared': 3.2.25
       estree-walker: ^2.0.2
       source-map: ^0.6.1
     dependencies:
@@ -113,8 +113,8 @@ importers:
 
   packages/compiler-dom:
     specifiers:
-      '@vue/compiler-core': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/compiler-core': 3.2.25
+      '@vue/shared': 3.2.25
     dependencies:
       '@vue/compiler-core': link:../compiler-core
       '@vue/shared': link:../shared
@@ -125,12 +125,12 @@ importers:
       '@babel/types': ^7.16.0
       '@types/estree': ^0.0.48
       '@types/lru-cache': ^5.1.0
-      '@vue/compiler-core': 3.2.24
-      '@vue/compiler-dom': 3.2.24
-      '@vue/compiler-ssr': 3.2.24
+      '@vue/compiler-core': 3.2.25
+      '@vue/compiler-dom': 3.2.25
+      '@vue/compiler-ssr': 3.2.25
       '@vue/consolidate': ^0.17.3
-      '@vue/reactivity-transform': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/reactivity-transform': 3.2.25
+      '@vue/shared': 3.2.25
       estree-walker: ^2.0.2
       hash-sum: ^2.0.0
       lru-cache: ^5.1.1
@@ -168,15 +168,15 @@ importers:
 
   packages/compiler-ssr:
     specifiers:
-      '@vue/compiler-dom': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/compiler-dom': 3.2.25
+      '@vue/shared': 3.2.25
     dependencies:
       '@vue/compiler-dom': link:../compiler-dom
       '@vue/shared': link:../shared
 
   packages/reactivity:
     specifiers:
-      '@vue/shared': 3.2.24
+      '@vue/shared': 3.2.25
     dependencies:
       '@vue/shared': link:../shared
 
@@ -185,8 +185,8 @@ importers:
       '@babel/core': ^7.16.0
       '@babel/parser': ^7.16.4
       '@babel/types': ^7.16.0
-      '@vue/compiler-core': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/compiler-core': 3.2.25
+      '@vue/shared': 3.2.25
       estree-walker: ^2.0.2
       magic-string: ^0.25.7
     dependencies:
@@ -201,16 +201,16 @@ importers:
 
   packages/runtime-core:
     specifiers:
-      '@vue/reactivity': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/reactivity': 3.2.25
+      '@vue/shared': 3.2.25
     dependencies:
       '@vue/reactivity': link:../reactivity
       '@vue/shared': link:../shared
 
   packages/runtime-dom:
     specifiers:
-      '@vue/runtime-core': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/runtime-core': 3.2.25
+      '@vue/shared': 3.2.25
       csstype: ^2.6.8
     dependencies:
       '@vue/runtime-core': link:../runtime-core
@@ -219,16 +219,16 @@ importers:
 
   packages/runtime-test:
     specifiers:
-      '@vue/runtime-core': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/runtime-core': 3.2.25
+      '@vue/shared': 3.2.25
     dependencies:
       '@vue/runtime-core': link:../runtime-core
       '@vue/shared': link:../shared
 
   packages/server-renderer:
     specifiers:
-      '@vue/compiler-ssr': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/compiler-ssr': 3.2.25
+      '@vue/shared': 3.2.25
     dependencies:
       '@vue/compiler-ssr': link:../compiler-ssr
       '@vue/shared': link:../shared
@@ -240,7 +240,7 @@ importers:
       file-saver: ^2.0.5
       jszip: ^3.6.0
       vite: ^2.7.1
-      vue: workspace:*
+      vue: 3.2.25
     dependencies:
       '@vue/repl': 0.4.5
       file-saver: 2.0.5
@@ -266,11 +266,11 @@ importers:
 
   packages/vue:
     specifiers:
-      '@vue/compiler-dom': 3.2.24
-      '@vue/compiler-sfc': 3.2.24
-      '@vue/runtime-dom': 3.2.24
-      '@vue/server-renderer': 3.2.24
-      '@vue/shared': 3.2.24
+      '@vue/compiler-dom': 3.2.25
+      '@vue/compiler-sfc': 3.2.25
+      '@vue/runtime-dom': 3.2.25
+      '@vue/server-renderer': 3.2.25
+      '@vue/shared': 3.2.25
     dependencies:
       '@vue/compiler-dom': link:../compiler-dom
       '@vue/compiler-sfc': link:../compiler-sfc