diff --git a/CHANGELOG.md b/CHANGELOG.md
index 930c8b590cc..d45ad1087b4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,36 @@
+## [3.5.13](https://github.com/vuejs/core/compare/v3.5.12...v3.5.13) (2024-11-15)
+
+
+### Bug Fixes
+
+* **compiler-core:** handle v-memo + v-for with functional key ([#12014](https://github.com/vuejs/core/issues/12014)) ([99009ee](https://github.com/vuejs/core/commit/99009eee0efc238392daba93792d478525b21afa)), closes [#12013](https://github.com/vuejs/core/issues/12013)
+* **compiler-dom:** properly stringify template string style ([#12392](https://github.com/vuejs/core/issues/12392)) ([2d78539](https://github.com/vuejs/core/commit/2d78539da35322aea5f821b3cf9b02d006abac72)), closes [#12391](https://github.com/vuejs/core/issues/12391)
+* **custom-element:** avoid triggering mutationObserver when relecting props ([352bc88](https://github.com/vuejs/core/commit/352bc88c1bd2fda09c61ab17ea1a5967ffcd7bc0)), closes [#12214](https://github.com/vuejs/core/issues/12214) [#12215](https://github.com/vuejs/core/issues/12215)
+* **deps:** update dependency postcss to ^8.4.48 ([#12356](https://github.com/vuejs/core/issues/12356)) ([b5ff930](https://github.com/vuejs/core/commit/b5ff930089985a58c3553977ef999cec2a6708a4))
+* **hydration:** the component vnode's el should be updated when a mismatch occurs. ([#12255](https://github.com/vuejs/core/issues/12255)) ([a20a4cb](https://github.com/vuejs/core/commit/a20a4cb36a3e717d1f8f259d0d59f133f508ff0a)), closes [#12253](https://github.com/vuejs/core/issues/12253)
+* **reactiivty:** avoid unnecessary watcher effect removal from inactive scope ([2193284](https://github.com/vuejs/core/commit/21932840eae72ffcd357a62ec596aaecc7ec224a)), closes [#5783](https://github.com/vuejs/core/issues/5783) [#5806](https://github.com/vuejs/core/issues/5806)
+* **reactivity:** release nested effects/scopes on effect scope stop ([#12373](https://github.com/vuejs/core/issues/12373)) ([bee2f5e](https://github.com/vuejs/core/commit/bee2f5ee62dc0cd04123b737779550726374dd0a)), closes [#12370](https://github.com/vuejs/core/issues/12370)
+* **runtime-dom:** set css vars before user onMounted hooks ([2d5c5e2](https://github.com/vuejs/core/commit/2d5c5e25e9b7a56e883674fb434135ac514429b5)), closes [#11533](https://github.com/vuejs/core/issues/11533)
+* **runtime-dom:** set css vars on update to handle child forcing reflow in onMount ([#11561](https://github.com/vuejs/core/issues/11561)) ([c4312f9](https://github.com/vuejs/core/commit/c4312f9c715c131a09e552ba46e9beb4b36d55e6))
+* **ssr:** avoid updating subtree of async component if it is resolved ([#12363](https://github.com/vuejs/core/issues/12363)) ([da7ad5e](https://github.com/vuejs/core/commit/da7ad5e3d24f3e108401188d909d27a4910da095)), closes [#12362](https://github.com/vuejs/core/issues/12362)
+* **ssr:** ensure v-text updates correctly with custom directives in SSR output ([#12311](https://github.com/vuejs/core/issues/12311)) ([1f75d4e](https://github.com/vuejs/core/commit/1f75d4e6dfe18121ebe443cd3e8105d54f727893)), closes [#12309](https://github.com/vuejs/core/issues/12309)
+* **ssr:** handle initial selected state for select with v-model + v-for option ([#12399](https://github.com/vuejs/core/issues/12399)) ([4f8d807](https://github.com/vuejs/core/commit/4f8d8078221ee52deed266677a227ad2a6d8dd22)), closes [#12395](https://github.com/vuejs/core/issues/12395)
+* **teleport:** handle deferred teleport update before mounted ([#12168](https://github.com/vuejs/core/issues/12168)) ([8bff142](https://github.com/vuejs/core/commit/8bff142f99b646e9dd15897ec75368fbf34f1534)), closes [#12161](https://github.com/vuejs/core/issues/12161)
+* **templateRef:** set ref on cached async component which wrapped in KeepAlive ([#12290](https://github.com/vuejs/core/issues/12290)) ([983eb50](https://github.com/vuejs/core/commit/983eb50a17eac76f1bba4394ad0316c62b72191d)), closes [#4999](https://github.com/vuejs/core/issues/4999) [#5004](https://github.com/vuejs/core/issues/5004)
+* **test:** update snapshot ([#12169](https://github.com/vuejs/core/issues/12169)) ([828d4a4](https://github.com/vuejs/core/commit/828d4a443919fa2aa4e2e92fbd03a5f04b258eea))
+* **Transition:** fix transition memory leak edge case ([#12182](https://github.com/vuejs/core/issues/12182)) ([660132d](https://github.com/vuejs/core/commit/660132df6c6a8c14bf75e593dc47d2fdada30322)), closes [#12181](https://github.com/vuejs/core/issues/12181)
+* **transition:** reflow before leave-active class after leave-from ([#12288](https://github.com/vuejs/core/issues/12288)) ([4b479db](https://github.com/vuejs/core/commit/4b479db61d233b054561402ae94ef08550073ea1)), closes [#2593](https://github.com/vuejs/core/issues/2593)
+* **types:** defineEmits w/ interface declaration ([#12343](https://github.com/vuejs/core/issues/12343)) ([1022eab](https://github.com/vuejs/core/commit/1022eabaa1aaf8436876f5ec5573cb1e4b3959a6)), closes [#8457](https://github.com/vuejs/core/issues/8457)
+* **v-once:** setting hasOnce to current block only when in v-once ([#12374](https://github.com/vuejs/core/issues/12374)) ([37300fc](https://github.com/vuejs/core/commit/37300fc26190a7299efddbf98800ffd96d5cad96)), closes [#12371](https://github.com/vuejs/core/issues/12371)
+
+
+### Performance Improvements
+
+* **reactivity:** do not track inner key `__v_skip`` ([#11690](https://github.com/vuejs/core/issues/11690)) ([d637bd6](https://github.com/vuejs/core/commit/d637bd6c0164c2883e6eabd3c2f1f8c258dedfb1))
+* **runtime-core:** use feature flag for call to resolveMergedOptions ([#12163](https://github.com/vuejs/core/issues/12163)) ([1755ac0](https://github.com/vuejs/core/commit/1755ac0a108ba3486bd8397e56d3bdcd69196594))
+
+
+
 ## [3.5.12](https://github.com/vuejs/core/compare/v3.5.11...v3.5.12) (2024-10-11)
 
 
diff --git a/package.json b/package.json
index 2d3af0f27d2..2478f3a1711 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "private": true,
-  "version": "3.5.12",
+  "version": "3.5.13",
   "packageManager": "pnpm@9.12.3",
   "type": "module",
   "scripts": {
diff --git a/packages-private/dts-test/setupHelpers.test-d.ts b/packages-private/dts-test/setupHelpers.test-d.ts
index 7b5d6f147f0..656f1da79f2 100644
--- a/packages-private/dts-test/setupHelpers.test-d.ts
+++ b/packages-private/dts-test/setupHelpers.test-d.ts
@@ -306,6 +306,14 @@ describe('defineEmits w/ type declaration', () => {
   emit2('baz')
 })
 
+describe('defineEmits w/ interface declaration', () => {
+  interface Emits {
+    foo: [value: string]
+  }
+  const emit = defineEmits<Emits>()
+  emit('foo', 'hi')
+})
+
 describe('defineEmits w/ alt type declaration', () => {
   const emit = defineEmits<{
     foo: [id: string]
diff --git a/packages-private/sfc-playground/src/Header.vue b/packages-private/sfc-playground/src/Header.vue
index aea6c022a3e..bf1c9bad6eb 100644
--- a/packages-private/sfc-playground/src/Header.vue
+++ b/packages-private/sfc-playground/src/Header.vue
@@ -46,6 +46,7 @@ function resetVueVersion() {
 
 async function copyLink(e: MouseEvent) {
   if (e.metaKey) {
+    resetVueVersion()
     // hidden logic for going to local debug from play.vuejs.org
     window.location.href = 'http://localhost:5173/' + window.location.hash
     return
diff --git a/packages/compiler-core/package.json b/packages/compiler-core/package.json
index a4e941aa43a..d2f474c5983 100644
--- a/packages/compiler-core/package.json
+++ b/packages/compiler-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-core",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/compiler-core",
   "main": "index.js",
   "module": "dist/compiler-core.esm-bundler.js",
diff --git a/packages/compiler-dom/__tests__/transforms/__snapshots__/stringifyStatic.spec.ts.snap b/packages/compiler-dom/__tests__/transforms/__snapshots__/stringifyStatic.spec.ts.snap
index a863eb32e61..2ed15ef5e62 100644
--- a/packages/compiler-dom/__tests__/transforms/__snapshots__/stringifyStatic.spec.ts.snap
+++ b/packages/compiler-dom/__tests__/transforms/__snapshots__/stringifyStatic.spec.ts.snap
@@ -32,6 +32,16 @@ return function render(_ctx, _cache) {
 }"
 `;
 
+exports[`stringify static html > serializing template string style 1`] = `
+"const { toDisplayString: _toDisplayString, normalizeClass: _normalizeClass, createElementVNode: _createElementVNode, createStaticVNode: _createStaticVNode, openBlock: _openBlock, createElementBlock: _createElementBlock } = Vue
+
+return function render(_ctx, _cache) {
+  return (_openBlock(), _createElementBlock("div", null, _cache[0] || (_cache[0] = [
+    _createStaticVNode("<div style=\\"color:red;\\"><span class=\\"foo bar\\">1 + false</span><span class=\\"foo bar\\">1 + false</span><span class=\\"foo bar\\">1 + false</span><span class=\\"foo bar\\">1 + false</span><span class=\\"foo bar\\">1 + false</span></div>", 1)
+  ])))
+}"
+`;
+
 exports[`stringify static html > should bail for <option> elements with null values 1`] = `
 "const { createElementVNode: _createElementVNode, openBlock: _openBlock, createElementBlock: _createElementBlock } = Vue
 
diff --git a/packages/compiler-dom/__tests__/transforms/stringifyStatic.spec.ts b/packages/compiler-dom/__tests__/transforms/stringifyStatic.spec.ts
index a460cfe68eb..79e6fc9c6e8 100644
--- a/packages/compiler-dom/__tests__/transforms/stringifyStatic.spec.ts
+++ b/packages/compiler-dom/__tests__/transforms/stringifyStatic.spec.ts
@@ -162,6 +162,27 @@ describe('stringify static html', () => {
     expect(code).toMatchSnapshot()
   })
 
+  // #12391
+  test('serializing template string style', () => {
+    const { ast, code } = compileWithStringify(
+      `<div><div :style="\`color:red;\`">${repeat(
+        `<span :class="[{ foo: true }, { bar: true }]">{{ 1 }} + {{ false }}</span>`,
+        StringifyThresholds.ELEMENT_WITH_BINDING_COUNT,
+      )}</div></div>`,
+    )
+    // should be optimized now
+    expect(ast.cached).toMatchObject([
+      cachedArrayStaticNodeMatcher(
+        `<div style="color:red;">${repeat(
+          `<span class="foo bar">1 + false</span>`,
+          StringifyThresholds.ELEMENT_WITH_BINDING_COUNT,
+        )}</div>`,
+        1,
+      ),
+    ])
+    expect(code).toMatchSnapshot()
+  })
+
   test('escape', () => {
     const { ast, code } = compileWithStringify(
       `<div><div>${repeat(
diff --git a/packages/compiler-dom/package.json b/packages/compiler-dom/package.json
index e50978a8996..1be062a2722 100644
--- a/packages/compiler-dom/package.json
+++ b/packages/compiler-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-dom",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/compiler-dom",
   "main": "index.js",
   "module": "dist/compiler-dom.esm-bundler.js",
diff --git a/packages/compiler-sfc/package.json b/packages/compiler-sfc/package.json
index bd9224e65be..a9a638f5384 100644
--- a/packages/compiler-sfc/package.json
+++ b/packages/compiler-sfc/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-sfc",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/compiler-sfc",
   "main": "dist/compiler-sfc.cjs.js",
   "module": "dist/compiler-sfc.esm-browser.js",
@@ -60,7 +60,7 @@
     "merge-source-map": "^1.1.0",
     "minimatch": "~9.0.5",
     "postcss-modules": "^6.0.0",
-    "postcss-selector-parser": "^6.1.2",
+    "postcss-selector-parser": "^7.0.0",
     "pug": "^3.0.3",
     "sass": "^1.80.6"
   }
diff --git a/packages/compiler-sfc/src/style/pluginScoped.ts b/packages/compiler-sfc/src/style/pluginScoped.ts
index b0224cf20d8..d0aaddd7676 100644
--- a/packages/compiler-sfc/src/style/pluginScoped.ts
+++ b/packages/compiler-sfc/src/style/pluginScoped.ts
@@ -189,8 +189,7 @@ function rewriteSelector(
       // global: replace with inner selector and do not inject [id].
       // ::v-global(.foo) -> .foo
       if (value === ':global' || value === '::v-global') {
-        selectorRoot.insertAfter(selector, n.nodes[0])
-        selectorRoot.removeChild(selector)
+        selector.replaceWith(n.nodes[0])
         return false
       }
     }
diff --git a/packages/compiler-ssr/__tests__/ssrElement.spec.ts b/packages/compiler-ssr/__tests__/ssrElement.spec.ts
index 723ef7b3592..f1d509acfb0 100644
--- a/packages/compiler-ssr/__tests__/ssrElement.spec.ts
+++ b/packages/compiler-ssr/__tests__/ssrElement.spec.ts
@@ -337,6 +337,39 @@ describe('ssr: element', () => {
         `)
     })
 
+    test('custom dir with v-text', () => {
+      expect(getCompiledString(`<div v-xxx v-text="foo" />`))
+        .toMatchInlineSnapshot(`
+          "\`<div\${
+              _ssrRenderAttrs(_ssrGetDirectiveProps(_ctx, _directive_xxx))
+            }>\${
+              _ssrInterpolate(_ctx.foo)
+            }</div>\`"
+        `)
+    })
+
+    test('custom dir with v-text and normal attrs', () => {
+      expect(getCompiledString(`<div class="test" v-xxx v-text="foo" />`))
+        .toMatchInlineSnapshot(`
+          "\`<div\${
+              _ssrRenderAttrs(_mergeProps({ class: "test" }, _ssrGetDirectiveProps(_ctx, _directive_xxx)))
+            }>\${
+              _ssrInterpolate(_ctx.foo)
+            }</div>\`"
+        `)
+    })
+
+    test('mulptiple custom dirs with v-text', () => {
+      expect(getCompiledString(`<div v-xxx v-yyy v-text="foo" />`))
+        .toMatchInlineSnapshot(`
+          "\`<div\${
+              _ssrRenderAttrs(_mergeProps(_ssrGetDirectiveProps(_ctx, _directive_xxx), _ssrGetDirectiveProps(_ctx, _directive_yyy)))
+            }>\${
+              _ssrInterpolate(_ctx.foo)
+            }</div>\`"
+        `)
+    })
+
     test('custom dir with object v-bind', () => {
       expect(getCompiledString(`<div v-bind="x" v-xxx />`))
         .toMatchInlineSnapshot(`
diff --git a/packages/compiler-ssr/__tests__/ssrVModel.spec.ts b/packages/compiler-ssr/__tests__/ssrVModel.spec.ts
index f2c04f0a5e8..0bf7673d00d 100644
--- a/packages/compiler-ssr/__tests__/ssrVModel.spec.ts
+++ b/packages/compiler-ssr/__tests__/ssrVModel.spec.ts
@@ -52,6 +52,52 @@ describe('ssr: v-model', () => {
       }"
     `)
 
+    expect(
+      compileWithWrapper(
+        `<select v-model="model"><option v-for="i in items" :value="i"></option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrRenderAttr: _ssrRenderAttr, ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs, ssrRenderList: _ssrRenderList } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${_ssrRenderAttrs(_attrs)}><select><!--[-->\`)
+        _ssrRenderList(_ctx.items, (i) => {
+          _push(\`<option\${
+            _ssrRenderAttr("value", i)
+          }\${
+            (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+              ? _ssrLooseContain(_ctx.model, i)
+              : _ssrLooseEqual(_ctx.model, i))) ? " selected" : ""
+          }></option>\`)
+        })
+        _push(\`<!--]--></select></div>\`)
+      }"
+    `)
+
+    expect(
+      compileWithWrapper(
+        `<select v-model="model"><option v-if="true" :value="i"></option></select>`,
+      ).code,
+    ).toMatchInlineSnapshot(`
+      "const { ssrRenderAttr: _ssrRenderAttr, ssrIncludeBooleanAttr: _ssrIncludeBooleanAttr, ssrLooseContain: _ssrLooseContain, ssrLooseEqual: _ssrLooseEqual, ssrRenderAttrs: _ssrRenderAttrs } = require("vue/server-renderer")
+
+      return function ssrRender(_ctx, _push, _parent, _attrs) {
+        _push(\`<div\${_ssrRenderAttrs(_attrs)}><select>\`)
+        if (true) {
+          _push(\`<option\${
+            _ssrRenderAttr("value", _ctx.i)
+          }\${
+            (_ssrIncludeBooleanAttr((Array.isArray(_ctx.model))
+              ? _ssrLooseContain(_ctx.model, _ctx.i)
+              : _ssrLooseEqual(_ctx.model, _ctx.i))) ? " selected" : ""
+          }></option>\`)
+        } else {
+          _push(\`<!---->\`)
+        }
+        _push(\`</select></div>\`)
+      }"
+    `)
+
     expect(
       compileWithWrapper(
         `<select multiple v-model="model"><option value="1" selected></option><option value="2"></option></select>`,
diff --git a/packages/compiler-ssr/package.json b/packages/compiler-ssr/package.json
index 07a85c9aea7..289e3ff05d1 100644
--- a/packages/compiler-ssr/package.json
+++ b/packages/compiler-ssr/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compiler-ssr",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/compiler-ssr",
   "main": "dist/compiler-ssr.cjs.js",
   "types": "dist/compiler-ssr.d.ts",
diff --git a/packages/compiler-ssr/src/transforms/ssrTransformElement.ts b/packages/compiler-ssr/src/transforms/ssrTransformElement.ts
index 6a028953ed6..4a12b0f7ba7 100644
--- a/packages/compiler-ssr/src/transforms/ssrTransformElement.ts
+++ b/packages/compiler-ssr/src/transforms/ssrTransformElement.ts
@@ -28,6 +28,7 @@ import {
   createSequenceExpression,
   createSimpleExpression,
   createTemplateLiteral,
+  findDir,
   hasDynamicKeyVBind,
   isStaticArgOf,
   isStaticExp,
@@ -164,24 +165,28 @@ export const ssrTransformElement: NodeTransform = (node, context) => {
             ]
           }
         } else if (directives.length && !node.children.length) {
-          const tempId = `_temp${context.temps++}`
-          propsExp.arguments = [
-            createAssignmentExpression(
-              createSimpleExpression(tempId, false),
-              mergedProps,
-            ),
-          ]
-          rawChildrenMap.set(
-            node,
-            createConditionalExpression(
-              createSimpleExpression(`"textContent" in ${tempId}`, false),
-              createCallExpression(context.helper(SSR_INTERPOLATE), [
-                createSimpleExpression(`${tempId}.textContent`, false),
-              ]),
-              createSimpleExpression(`${tempId}.innerHTML ?? ''`, false),
-              false,
-            ),
-          )
+          // v-text directive has higher priority than the merged props
+          const vText = findDir(node, 'text')
+          if (!vText) {
+            const tempId = `_temp${context.temps++}`
+            propsExp.arguments = [
+              createAssignmentExpression(
+                createSimpleExpression(tempId, false),
+                mergedProps,
+              ),
+            ]
+            rawChildrenMap.set(
+              node,
+              createConditionalExpression(
+                createSimpleExpression(`"textContent" in ${tempId}`, false),
+                createCallExpression(context.helper(SSR_INTERPOLATE), [
+                  createSimpleExpression(`${tempId}.textContent`, false),
+                ]),
+                createSimpleExpression(`${tempId}.innerHTML ?? ''`, false),
+                false,
+              ),
+            )
+          }
         }
 
         if (needTagForRuntime) {
diff --git a/packages/compiler-ssr/src/transforms/ssrVModel.ts b/packages/compiler-ssr/src/transforms/ssrVModel.ts
index 9a645397e1a..80e3839318b 100644
--- a/packages/compiler-ssr/src/transforms/ssrVModel.ts
+++ b/packages/compiler-ssr/src/transforms/ssrVModel.ts
@@ -5,6 +5,7 @@ import {
   type ExpressionNode,
   NodeTypes,
   type PlainElementNode,
+  type TemplateChildNode,
   createCallExpression,
   createConditionalExpression,
   createDOMCompilerError,
@@ -162,11 +163,18 @@ export const ssrTransformModel: DirectiveTransform = (dir, node, context) => {
       checkDuplicatedValue()
       node.children = [createInterpolation(model, model.loc)]
     } else if (node.tag === 'select') {
-      node.children.forEach(child => {
-        if (child.type === NodeTypes.ELEMENT) {
-          processOption(child as PlainElementNode)
-        }
-      })
+      const processChildren = (children: TemplateChildNode[]) => {
+        children.forEach(child => {
+          if (child.type === NodeTypes.ELEMENT) {
+            processOption(child as PlainElementNode)
+          } else if (child.type === NodeTypes.FOR) {
+            processChildren(child.children)
+          } else if (child.type === NodeTypes.IF) {
+            child.branches.forEach(b => processChildren(b.children))
+          }
+        })
+      }
+      processChildren(node.children)
     } else {
       context.onError(
         createDOMCompilerError(
diff --git a/packages/reactivity/package.json b/packages/reactivity/package.json
index 0b84f2fec52..4ef3171176f 100644
--- a/packages/reactivity/package.json
+++ b/packages/reactivity/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/reactivity",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/reactivity",
   "main": "index.js",
   "module": "dist/reactivity.esm-bundler.js",
diff --git a/packages/reactivity/src/baseHandlers.ts b/packages/reactivity/src/baseHandlers.ts
index 4155c708846..faec3012f40 100644
--- a/packages/reactivity/src/baseHandlers.ts
+++ b/packages/reactivity/src/baseHandlers.ts
@@ -53,6 +53,8 @@ class BaseReactiveHandler implements ProxyHandler<Target> {
   ) {}
 
   get(target: Target, key: string | symbol, receiver: object): any {
+    if (key === ReactiveFlags.SKIP) return target[ReactiveFlags.SKIP]
+
     const isReadonly = this._isReadonly,
       isShallow = this._isShallow
     if (key === ReactiveFlags.IS_REACTIVE) {
diff --git a/packages/reactivity/src/effectScope.ts b/packages/reactivity/src/effectScope.ts
index e57498b6477..d815b5c7aa6 100644
--- a/packages/reactivity/src/effectScope.ts
+++ b/packages/reactivity/src/effectScope.ts
@@ -133,9 +133,8 @@ export class EffectScope implements Subscriber {
         this.depsTail = undefined
       }
       let i, l
-      const effects = this.effects.slice()
-      for (i = 0, l = effects.length; i < l; i++) {
-        effects[i].stop()
+      for (i = 0, l = this.effects.length; i < l; i++) {
+        this.effects[i].stop()
       }
       this.effects.length = 0
 
diff --git a/packages/runtime-core/__tests__/components/Teleport.spec.ts b/packages/runtime-core/__tests__/components/Teleport.spec.ts
index 5dc333ad690..79125cd04df 100644
--- a/packages/runtime-core/__tests__/components/Teleport.spec.ts
+++ b/packages/runtime-core/__tests__/components/Teleport.spec.ts
@@ -87,6 +87,49 @@ describe('renderer: teleport', () => {
           `</div>`,
       )
     })
+
+    test('update before mounted with defer', async () => {
+      const root = document.createElement('div')
+      document.body.appendChild(root)
+
+      const show = ref(false)
+      const foo = ref('foo')
+      const Header = {
+        props: { foo: String },
+        setup(props: any) {
+          return () => h('div', props.foo)
+        },
+      }
+      const Footer = {
+        setup() {
+          foo.value = 'bar'
+          return () => h('div', 'Footer')
+        },
+      }
+      createDOMApp({
+        render() {
+          return show.value
+            ? [
+                h(
+                  Teleport,
+                  { to: '#targetId', defer: true },
+                  h(Header, { foo: foo.value }),
+                ),
+                h(Footer),
+                h('div', { id: 'targetId' }),
+              ]
+            : [h('div')]
+        },
+      }).mount(root)
+
+      expect(root.innerHTML).toMatchInlineSnapshot(`"<div></div>"`)
+
+      show.value = true
+      await nextTick()
+      expect(root.innerHTML).toMatchInlineSnapshot(
+        `"<!--teleport start--><!--teleport end--><div>Footer</div><div id="targetId"><div>bar</div></div>"`,
+      )
+    })
   })
 
   function runSharedTests(deferMode: boolean) {
diff --git a/packages/runtime-core/__tests__/hydration.spec.ts b/packages/runtime-core/__tests__/hydration.spec.ts
index a1fb8cde33f..56011d06359 100644
--- a/packages/runtime-core/__tests__/hydration.spec.ts
+++ b/packages/runtime-core/__tests__/hydration.spec.ts
@@ -21,6 +21,7 @@ import {
   h,
   nextTick,
   onMounted,
+  onServerPrefetch,
   openBlock,
   reactive,
   ref,
@@ -518,6 +519,45 @@ describe('SSR hydration', () => {
     )
   })
 
+  test('with data-allow-mismatch component when using onServerPrefetch', async () => {
+    const Comp = {
+      template: `
+        <div>Comp2</div>
+      `,
+    }
+    let foo: any
+    const App = {
+      setup() {
+        const flag = ref(true)
+        foo = () => {
+          flag.value = false
+        }
+        onServerPrefetch(() => (flag.value = false))
+        return { flag }
+      },
+      components: {
+        Comp,
+      },
+      template: `
+        <span data-allow-mismatch>
+          <Comp v-if="flag"></Comp>
+        </span>
+      `,
+    }
+    // hydrate
+    const container = document.createElement('div')
+    container.innerHTML = await renderToString(h(App))
+    createSSRApp(App).mount(container)
+    expect(container.innerHTML).toBe(
+      '<span data-allow-mismatch=""><div>Comp2</div></span>',
+    )
+    foo()
+    await nextTick()
+    expect(container.innerHTML).toBe(
+      '<span data-allow-mismatch=""><!--v-if--></span>',
+    )
+  })
+
   test('Teleport unmount (full integration)', async () => {
     const Comp1 = {
       template: `
@@ -1284,6 +1324,84 @@ describe('SSR hydration', () => {
     resolve({})
   })
 
+  //#12362
+  test('nested async wrapper', async () => {
+    const Toggle = defineAsyncComponent(
+      () =>
+        new Promise(r => {
+          r(
+            defineComponent({
+              setup(_, { slots }) {
+                const show = ref(false)
+                onMounted(() => {
+                  nextTick(() => {
+                    show.value = true
+                  })
+                })
+                return () =>
+                  withDirectives(
+                    h('div', null, [renderSlot(slots, 'default')]),
+                    [[vShow, show.value]],
+                  )
+              },
+            }) as any,
+          )
+        }),
+    )
+
+    const Wrapper = defineAsyncComponent(() => {
+      return new Promise(r => {
+        r(
+          defineComponent({
+            render(this: any) {
+              return renderSlot(this.$slots, 'default')
+            },
+          }) as any,
+        )
+      })
+    })
+
+    const count = ref(0)
+    const fn = vi.fn()
+    const Child = {
+      setup() {
+        onMounted(() => {
+          fn()
+          count.value++
+        })
+        return () => h('div', count.value)
+      },
+    }
+
+    const App = {
+      render() {
+        return h(Toggle, null, {
+          default: () =>
+            h(Wrapper, null, {
+              default: () =>
+                h(Wrapper, null, {
+                  default: () => h(Child),
+                }),
+            }),
+        })
+      },
+    }
+
+    const root = document.createElement('div')
+    root.innerHTML = await renderToString(h(App))
+    expect(root.innerHTML).toMatchInlineSnapshot(
+      `"<div style="display:none;"><!--[--><!--[--><!--[--><div>0</div><!--]--><!--]--><!--]--></div>"`,
+    )
+
+    createSSRApp(App).mount(root)
+    await nextTick()
+    await nextTick()
+    expect(root.innerHTML).toMatchInlineSnapshot(
+      `"<div style=""><!--[--><!--[--><!--[--><div>1</div><!--]--><!--]--><!--]--></div>"`,
+    )
+    expect(fn).toBeCalledTimes(1)
+  })
+
   test('unmount async wrapper before load (fragment)', async () => {
     let resolve: any
     const AsyncComp = defineAsyncComponent(
diff --git a/packages/runtime-core/__tests__/rendererTemplateRef.spec.ts b/packages/runtime-core/__tests__/rendererTemplateRef.spec.ts
index 64cb9c63014..a7ae7a06bfd 100644
--- a/packages/runtime-core/__tests__/rendererTemplateRef.spec.ts
+++ b/packages/runtime-core/__tests__/rendererTemplateRef.spec.ts
@@ -1,4 +1,6 @@
 import {
+  KeepAlive,
+  defineAsyncComponent,
   defineComponent,
   h,
   nextTick,
@@ -538,4 +540,68 @@ describe('api: template refs', () => {
       '<div><div>[object Object],[object Object]</div><ul><li>2</li><li>3</li></ul></div>',
     )
   })
+
+  test('with async component which nested in KeepAlive', async () => {
+    const AsyncComp = defineAsyncComponent(
+      () =>
+        new Promise(resolve =>
+          setTimeout(() =>
+            resolve(
+              defineComponent({
+                setup(_, { expose }) {
+                  expose({
+                    name: 'AsyncComp',
+                  })
+                  return () => h('div')
+                },
+              }) as any,
+            ),
+          ),
+        ),
+    )
+
+    const Comp = defineComponent({
+      setup(_, { expose }) {
+        expose({
+          name: 'Comp',
+        })
+        return () => h('div')
+      },
+    })
+
+    const toggle = ref(false)
+    const instanceRef = ref<any>(null)
+
+    const App = {
+      render: () => {
+        return h(KeepAlive, () =>
+          toggle.value
+            ? h(AsyncComp, { ref: instanceRef })
+            : h(Comp, { ref: instanceRef }),
+        )
+      },
+    }
+
+    const root = nodeOps.createElement('div')
+    render(h(App), root)
+    expect(instanceRef.value.name).toBe('Comp')
+
+    // switch to async component
+    toggle.value = true
+    await nextTick()
+    expect(instanceRef.value).toBe(null)
+
+    await new Promise(r => setTimeout(r))
+    expect(instanceRef.value.name).toBe('AsyncComp')
+
+    // switch back to normal component
+    toggle.value = false
+    await nextTick()
+    expect(instanceRef.value.name).toBe('Comp')
+
+    // switch to async component again
+    toggle.value = true
+    await nextTick()
+    expect(instanceRef.value.name).toBe('AsyncComp')
+  })
 })
diff --git a/packages/runtime-core/package.json b/packages/runtime-core/package.json
index 830d35c749f..db842c91614 100644
--- a/packages/runtime-core/package.json
+++ b/packages/runtime-core/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-core",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/runtime-core",
   "main": "index.js",
   "module": "dist/runtime-core.esm-bundler.js",
diff --git a/packages/runtime-core/src/apiSetupHelpers.ts b/packages/runtime-core/src/apiSetupHelpers.ts
index 54712c6807a..2ddaeb509ad 100644
--- a/packages/runtime-core/src/apiSetupHelpers.ts
+++ b/packages/runtime-core/src/apiSetupHelpers.ts
@@ -149,9 +149,7 @@ export function defineEmits() {
   return null as any
 }
 
-export type ComponentTypeEmits =
-  | ((...args: any[]) => any)
-  | Record<string, any[]>
+export type ComponentTypeEmits = ((...args: any[]) => any) | Record<string, any>
 
 type RecordToUnion<T extends Record<string, any>> = T[keyof T]
 
diff --git a/packages/runtime-core/src/components/BaseTransition.ts b/packages/runtime-core/src/components/BaseTransition.ts
index 6ce06d28239..2b58bc3fc43 100644
--- a/packages/runtime-core/src/components/BaseTransition.ts
+++ b/packages/runtime-core/src/components/BaseTransition.ts
@@ -198,8 +198,7 @@ const BaseTransitionImpl: ComponentOptions = {
         setTransitionHooks(innerChild, enterHooks)
       }
 
-      const oldChild = instance.subTree
-      const oldInnerChild = oldChild && getInnerChild(oldChild)
+      let oldInnerChild = instance.subTree && getInnerChild(instance.subTree)
 
       // handle mode
       if (
@@ -208,7 +207,7 @@ const BaseTransitionImpl: ComponentOptions = {
         !isSameVNodeType(innerChild, oldInnerChild) &&
         recursiveGetSubtree(instance).type !== Comment
       ) {
-        const leavingHooks = resolveTransitionHooks(
+        let leavingHooks = resolveTransitionHooks(
           oldInnerChild,
           rawProps,
           state,
@@ -228,6 +227,7 @@ const BaseTransitionImpl: ComponentOptions = {
               instance.update()
             }
             delete leavingHooks.afterLeave
+            oldInnerChild = undefined
           }
           return emptyPlaceholder(child)
         } else if (mode === 'in-out' && innerChild.type !== Comment) {
@@ -238,18 +238,27 @@ const BaseTransitionImpl: ComponentOptions = {
           ) => {
             const leavingVNodesCache = getLeavingNodesForType(
               state,
-              oldInnerChild,
+              oldInnerChild!,
             )
-            leavingVNodesCache[String(oldInnerChild.key)] = oldInnerChild
+            leavingVNodesCache[String(oldInnerChild!.key)] = oldInnerChild!
             // early removal callback
             el[leaveCbKey] = () => {
               earlyRemove()
               el[leaveCbKey] = undefined
               delete enterHooks.delayedLeave
+              oldInnerChild = undefined
+            }
+            enterHooks.delayedLeave = () => {
+              delayedLeave()
+              delete enterHooks.delayedLeave
+              oldInnerChild = undefined
             }
-            enterHooks.delayedLeave = delayedLeave
           }
+        } else {
+          oldInnerChild = undefined
         }
+      } else if (oldInnerChild) {
+        oldInnerChild = undefined
       }
 
       return child
diff --git a/packages/runtime-core/src/components/Teleport.ts b/packages/runtime-core/src/components/Teleport.ts
index 5def1b2d721..fe6fa36c1ca 100644
--- a/packages/runtime-core/src/components/Teleport.ts
+++ b/packages/runtime-core/src/components/Teleport.ts
@@ -164,11 +164,32 @@ export const TeleportImpl = {
       }
 
       if (isTeleportDeferred(n2.props)) {
-        queuePostRenderEffect(mountToTarget, parentSuspense)
+        queuePostRenderEffect(() => {
+          mountToTarget()
+          n2.el!.__isMounted = true
+        }, parentSuspense)
       } else {
         mountToTarget()
       }
     } else {
+      if (isTeleportDeferred(n2.props) && !n1.el!.__isMounted) {
+        queuePostRenderEffect(() => {
+          TeleportImpl.process(
+            n1,
+            n2,
+            container,
+            anchor,
+            parentComponent,
+            parentSuspense,
+            namespace,
+            slotScopeIds,
+            optimized,
+            internals,
+          )
+          delete n1.el!.__isMounted
+        }, parentSuspense)
+        return
+      }
       // update content
       n2.el = n1.el
       n2.targetStart = n1.targetStart
diff --git a/packages/runtime-core/src/hydration.ts b/packages/runtime-core/src/hydration.ts
index c49db529c38..a94ff356810 100644
--- a/packages/runtime-core/src/hydration.ts
+++ b/packages/runtime-core/src/hydration.ts
@@ -11,7 +11,7 @@ import {
   normalizeVNode,
 } from './vnode'
 import { flushPostFlushCbs } from './scheduler'
-import type { ComponentInternalInstance } from './component'
+import type { ComponentInternalInstance, ComponentOptions } from './component'
 import { invokeDirectiveHook } from './directives'
 import { warn } from './warning'
 import {
@@ -41,6 +41,7 @@ import {
 import type { TeleportImpl, TeleportVNode } from './components/Teleport'
 import { isAsyncWrapper } from './apiAsyncComponent'
 import { isReactive } from '@vue/reactivity'
+import { updateHOCHostEl } from './componentRenderUtils'
 
 export type RootHydrateFunction = (
   vnode: VNode<Node, Element>,
@@ -307,7 +308,10 @@ export function createHydrationFunctions(
           // if component is async, it may get moved / unmounted before its
           // inner component is loaded, so we need to give it a placeholder
           // vnode that matches its adopted DOM.
-          if (isAsyncWrapper(vnode)) {
+          if (
+            isAsyncWrapper(vnode) &&
+            !(vnode.type as ComponentOptions).__asyncResolved
+          ) {
             let subTree
             if (isFragmentStart) {
               subTree = createVNode(Fragment)
@@ -716,6 +720,11 @@ export function createHydrationFunctions(
       getContainerType(container),
       slotScopeIds,
     )
+    // the component vnode's el should be updated when a mismatch occurs.
+    if (parentComponent) {
+      parentComponent.vnode.el = vnode.el
+      updateHOCHostEl(parentComponent, vnode.el)
+    }
     return next
   }
 
diff --git a/packages/runtime-core/src/rendererTemplateRef.ts b/packages/runtime-core/src/rendererTemplateRef.ts
index bffe1a25321..ca21030dc35 100644
--- a/packages/runtime-core/src/rendererTemplateRef.ts
+++ b/packages/runtime-core/src/rendererTemplateRef.ts
@@ -15,7 +15,7 @@ import { isRef, toRaw } from '@vue/reactivity'
 import { ErrorCodes, callWithErrorHandling } from './errorHandling'
 import type { SchedulerJob } from './scheduler'
 import { queuePostRenderEffect } from './renderer'
-import { getComponentPublicInstance } from './component'
+import { type ComponentOptions, getComponentPublicInstance } from './component'
 import { knownTemplateRefs } from './helpers/useTemplateRef'
 
 /**
@@ -42,8 +42,18 @@ export function setRef(
   }
 
   if (isAsyncWrapper(vnode) && !isUnmount) {
-    // when mounting async components, nothing needs to be done,
-    // because the template ref is forwarded to inner component
+    // #4999 if an async component already resolved and cached by KeepAlive,
+    // we need to set the ref to inner component
+    if (
+      vnode.shapeFlag & ShapeFlags.COMPONENT_KEPT_ALIVE &&
+      (vnode.type as ComponentOptions).__asyncResolved &&
+      vnode.component!.subTree.component
+    ) {
+      setRef(rawRef, oldRawRef, parentSuspense, vnode.component!.subTree)
+    }
+
+    // otherwise, nothing needs to be done because the template ref
+    // is forwarded to inner component
     return
   }
 
diff --git a/packages/runtime-dom/__tests__/customElement.spec.ts b/packages/runtime-dom/__tests__/customElement.spec.ts
index 6b9f7d1391e..df438d47eee 100644
--- a/packages/runtime-dom/__tests__/customElement.spec.ts
+++ b/packages/runtime-dom/__tests__/customElement.spec.ts
@@ -396,6 +396,38 @@ describe('defineCustomElement', () => {
       expect(e.value).toBe('hi')
     })
 
+    // #12214
+    test('Boolean prop with default true', async () => {
+      const E = defineCustomElement({
+        props: {
+          foo: {
+            type: Boolean,
+            default: true,
+          },
+        },
+        render() {
+          return String(this.foo)
+        },
+      })
+      customElements.define('my-el-default-true', E)
+      container.innerHTML = `<my-el-default-true></my-el-default-true>`
+      const e = container.childNodes[0] as HTMLElement & { foo: any },
+        shadowRoot = e.shadowRoot as ShadowRoot
+      expect(shadowRoot.innerHTML).toBe('true')
+      e.foo = undefined
+      await nextTick()
+      expect(shadowRoot.innerHTML).toBe('true')
+      e.foo = false
+      await nextTick()
+      expect(shadowRoot.innerHTML).toBe('false')
+      e.foo = null
+      await nextTick()
+      expect(shadowRoot.innerHTML).toBe('null')
+      e.foo = ''
+      await nextTick()
+      expect(shadowRoot.innerHTML).toBe('true')
+    })
+
     test('support direct setup function syntax with extra options', () => {
       const E = defineCustomElement(
         props => {
diff --git a/packages/runtime-dom/package.json b/packages/runtime-dom/package.json
index 645ad6c8046..32146dac01d 100644
--- a/packages/runtime-dom/package.json
+++ b/packages/runtime-dom/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/runtime-dom",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/runtime-dom",
   "main": "index.js",
   "module": "dist/runtime-dom.esm-bundler.js",
diff --git a/packages/runtime-dom/src/apiCustomElement.ts b/packages/runtime-dom/src/apiCustomElement.ts
index 6ddaf897130..aeeaeec9b9f 100644
--- a/packages/runtime-dom/src/apiCustomElement.ts
+++ b/packages/runtime-dom/src/apiCustomElement.ts
@@ -505,6 +505,8 @@ export class VueElement
       }
       // reflect
       if (shouldReflect) {
+        const ob = this._ob
+        ob && ob.disconnect()
         if (val === true) {
           this.setAttribute(hyphenate(key), '')
         } else if (typeof val === 'string' || typeof val === 'number') {
@@ -512,6 +514,7 @@ export class VueElement
         } else if (!val) {
           this.removeAttribute(hyphenate(key))
         }
+        ob && ob.observe(this, { attributes: true })
       }
     }
   }
diff --git a/packages/runtime-dom/src/components/Transition.ts b/packages/runtime-dom/src/components/Transition.ts
index 3a1a661d90b..6c6344bfcac 100644
--- a/packages/runtime-dom/src/components/Transition.ts
+++ b/packages/runtime-dom/src/components/Transition.ts
@@ -181,7 +181,13 @@ export function resolveTransitionProps(
     onAppearCancelled = onEnterCancelled,
   } = baseProps
 
-  const finishEnter = (el: Element, isAppear: boolean, done?: () => void) => {
+  const finishEnter = (
+    el: Element & { _enterCancelled?: boolean },
+    isAppear: boolean,
+    done?: () => void,
+    isCancelled?: boolean,
+  ) => {
+    el._enterCancelled = isCancelled
     removeTransitionClass(el, isAppear ? appearToClass : enterToClass)
     removeTransitionClass(el, isAppear ? appearActiveClass : enterActiveClass)
     done && done()
@@ -240,7 +246,10 @@ export function resolveTransitionProps(
     },
     onEnter: makeEnterHook(false),
     onAppear: makeEnterHook(true),
-    onLeave(el: Element & { _isLeaving?: boolean }, done) {
+    onLeave(
+      el: Element & { _isLeaving?: boolean; _enterCancelled?: boolean },
+      done,
+    ) {
       el._isLeaving = true
       const resolve = () => finishLeave(el, done)
       addTransitionClass(el, leaveFromClass)
@@ -249,9 +258,14 @@ export function resolveTransitionProps(
       }
       // add *-leave-active class before reflow so in the case of a cancelled enter transition
       // the css will not get the final state (#10677)
-      addTransitionClass(el, leaveActiveClass)
-      // force reflow so *-leave-from classes immediately take effect (#2593)
-      forceReflow()
+      if (!el._enterCancelled) {
+        // force reflow so *-leave-from classes immediately take effect (#2593)
+        forceReflow()
+        addTransitionClass(el, leaveActiveClass)
+      } else {
+        addTransitionClass(el, leaveActiveClass)
+        forceReflow()
+      }
       nextFrame(() => {
         if (!el._isLeaving) {
           // cancelled
@@ -269,11 +283,11 @@ export function resolveTransitionProps(
       callHook(onLeave, [el, resolve])
     },
     onEnterCancelled(el) {
-      finishEnter(el, false)
+      finishEnter(el, false, undefined, true)
       callHook(onEnterCancelled, [el])
     },
     onAppearCancelled(el) {
-      finishEnter(el, true)
+      finishEnter(el, true, undefined, true)
       callHook(onAppearCancelled, [el])
     },
     onLeaveCancelled(el) {
diff --git a/packages/server-renderer/package.json b/packages/server-renderer/package.json
index a309bbe0c6b..439972d74aa 100644
--- a/packages/server-renderer/package.json
+++ b/packages/server-renderer/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/server-renderer",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "@vue/server-renderer",
   "main": "index.js",
   "module": "dist/server-renderer.esm-bundler.js",
diff --git a/packages/shared/__tests__/normalizeProp.spec.ts b/packages/shared/__tests__/normalizeProp.spec.ts
index ae9cbb56661..00c6b294da1 100644
--- a/packages/shared/__tests__/normalizeProp.spec.ts
+++ b/packages/shared/__tests__/normalizeProp.spec.ts
@@ -153,10 +153,10 @@ describe('normalizeStyle', () => {
 })
 
 describe('stringifyStyle', () => {
-  test('should return empty string for undefined or string styles', () => {
+  test('should return empty string for undefined', () => {
     expect(stringifyStyle(undefined)).toBe('')
     expect(stringifyStyle('')).toBe('')
-    expect(stringifyStyle('color: blue;')).toBe('')
+    expect(stringifyStyle('color: blue;')).toBe('color: blue;')
   })
 
   test('should return valid CSS string for normalized style object', () => {
diff --git a/packages/shared/package.json b/packages/shared/package.json
index e6ecc0078da..cf673804d22 100644
--- a/packages/shared/package.json
+++ b/packages/shared/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/shared",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "internal utils shared across @vue packages",
   "main": "index.js",
   "module": "dist/shared.esm-bundler.js",
diff --git a/packages/shared/src/normalizeProp.ts b/packages/shared/src/normalizeProp.ts
index f21e6642513..ef598a03ced 100644
--- a/packages/shared/src/normalizeProp.ts
+++ b/packages/shared/src/normalizeProp.ts
@@ -45,10 +45,10 @@ export function parseStringStyle(cssText: string): NormalizedStyle {
 export function stringifyStyle(
   styles: NormalizedStyle | string | undefined,
 ): string {
+  if (!styles) return ''
+  if (isString(styles)) return styles
+
   let ret = ''
-  if (!styles || isString(styles)) {
-    return ret
-  }
   for (const key in styles) {
     const value = styles[key]
     if (isString(value) || typeof value === 'number') {
diff --git a/packages/vue-compat/package.json b/packages/vue-compat/package.json
index 6d4554c8abe..33c6e2f0c58 100644
--- a/packages/vue-compat/package.json
+++ b/packages/vue-compat/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@vue/compat",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "Vue 3 compatibility build for Vue 2",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
diff --git a/packages/vue/__tests__/e2e/Transition.spec.ts b/packages/vue/__tests__/e2e/Transition.spec.ts
index c0863a75991..1315259f075 100644
--- a/packages/vue/__tests__/e2e/Transition.spec.ts
+++ b/packages/vue/__tests__/e2e/Transition.spec.ts
@@ -3,7 +3,7 @@ import path from 'node:path'
 import { Transition, createApp, h, nextTick, ref } from 'vue'
 
 describe('e2e: Transition', () => {
-  const { page, html, classList, isVisible, timeout, nextFrame, click } =
+  const { page, html, classList, style, isVisible, timeout, nextFrame, click } =
     setupPuppeteer()
   const baseUrl = `file://${path.resolve(__dirname, './transition.html')}`
 
@@ -2986,6 +2986,55 @@ describe('e2e: Transition', () => {
     )
   })
 
+  test('reflow after *-leave-from before *-leave-active', async () => {
+    await page().evaluate(() => {
+      const { createApp, ref } = (window as any).Vue
+      createApp({
+        template: `
+          <div id="container">
+            <transition name="test-reflow">
+              <div v-if="toggle" class="test-reflow">content</div>
+            </transition>
+          </div>
+          <button id="toggleBtn" @click="click">button</button>
+        `,
+        setup: () => {
+          const toggle = ref(false)
+          const click = () => (toggle.value = !toggle.value)
+          return {
+            toggle,
+            click,
+          }
+        },
+      }).mount('#app')
+    })
+
+    // if transition starts while there's v-leave-active added along with v-leave-from, its bad, it has to start when it doesnt have the v-leave-from
+
+    // enter
+    await classWhenTransitionStart()
+    await transitionFinish()
+
+    // leave
+    expect(await classWhenTransitionStart()).toStrictEqual([
+      'test-reflow',
+      'test-reflow-leave-from',
+      'test-reflow-leave-active',
+    ])
+
+    expect(await style('.test-reflow', 'opacity')).toStrictEqual('0.9')
+
+    await nextFrame()
+    expect(await classList('.test-reflow')).toStrictEqual([
+      'test-reflow',
+      'test-reflow-leave-active',
+      'test-reflow-leave-to',
+    ])
+
+    await transitionFinish()
+    expect(await html('#container')).toBe('<!--v-if-->')
+  })
+
   test('warn when used on multiple elements', async () => {
     createApp({
       render() {
@@ -3121,4 +3170,124 @@ describe('e2e: Transition', () => {
     },
     E2E_TIMEOUT,
   )
+
+  // https://github.com/vuejs/core/issues/12181#issuecomment-2414380955
+  describe('not leaking', async () => {
+    test('switching VNodes', async () => {
+      const client = await page().createCDPSession()
+      await page().evaluate(async () => {
+        const { createApp, ref, nextTick } = (window as any).Vue
+        const empty = ref(true)
+
+        createApp({
+          components: {
+            Child: {
+              setup: () => {
+                // Big arrays kick GC earlier
+                const test = ref([...Array(30_000_000)].map((_, i) => ({ i })))
+                // TODO: Use a diferent TypeScript env for testing
+                // @ts-expect-error - Custom property and same lib as runtime is used
+                window.__REF__ = new WeakRef(test)
+
+                return { test }
+              },
+              template: `
+                <p>{{ test.length }}</p>
+              `,
+            },
+            Empty: {
+              template: '<div></div>',
+            },
+          },
+          template: `
+            <transition>
+              <component :is="empty ? 'Empty' : 'Child'" />
+            </transition>
+          `,
+          setup() {
+            return { empty }
+          },
+        }).mount('#app')
+
+        await nextTick()
+        empty.value = false
+        await nextTick()
+        empty.value = true
+        await nextTick()
+      })
+
+      const isCollected = async () =>
+        // @ts-expect-error - Custom property
+        await page().evaluate(() => window.__REF__.deref() === undefined)
+
+      while ((await isCollected()) === false) {
+        await client.send('HeapProfiler.collectGarbage')
+      }
+
+      expect(await isCollected()).toBe(true)
+    })
+
+    // https://github.com/vuejs/core/issues/12181#issue-2588232334
+    test('switching deep vnodes edge case', async () => {
+      const client = await page().createCDPSession()
+      await page().evaluate(async () => {
+        const { createApp, ref, nextTick } = (window as any).Vue
+        const shown = ref(false)
+
+        createApp({
+          components: {
+            Child: {
+              setup: () => {
+                // Big arrays kick GC earlier
+                const test = ref([...Array(30_000_000)].map((_, i) => ({ i })))
+                // TODO: Use a diferent TypeScript env for testing
+                // @ts-expect-error - Custom property and same lib as runtime is used
+                window.__REF__ = new WeakRef(test)
+
+                return { test }
+              },
+              template: `
+                <p>{{ test.length }}</p>
+              `,
+            },
+            Wrapper: {
+              template: `
+                <transition>
+                  <div v-if="true">
+                    <slot />
+                  </div>
+                </transition>
+              `,
+            },
+          },
+          template: `
+            <button id="toggleBtn" @click="shown = !shown">{{ shown ? 'Hide' : 'Show' }}</button>
+            <Wrapper>
+              <Child v-if="shown" />
+              <div v-else></div>
+            </Wrapper>
+          `,
+          setup() {
+            return { shown }
+          },
+        }).mount('#app')
+
+        await nextTick()
+        shown.value = true
+        await nextTick()
+        shown.value = false
+        await nextTick()
+      })
+
+      const isCollected = async () =>
+        // @ts-expect-error - Custom property
+        await page().evaluate(() => window.__REF__.deref() === undefined)
+
+      while ((await isCollected()) === false) {
+        await client.send('HeapProfiler.collectGarbage')
+      }
+
+      expect(await isCollected()).toBe(true)
+    })
+  })
 })
diff --git a/packages/vue/__tests__/e2e/e2eUtils.ts b/packages/vue/__tests__/e2e/e2eUtils.ts
index 8512dcaae47..8a63e0a3530 100644
--- a/packages/vue/__tests__/e2e/e2eUtils.ts
+++ b/packages/vue/__tests__/e2e/e2eUtils.ts
@@ -39,6 +39,7 @@ interface PuppeteerUtils {
   value(selector: string): Promise<string>
   html(selector: string): Promise<string>
   classList(selector: string): Promise<string[]>
+  style(selector: string, property: keyof CSSStyleDeclaration): Promise<any>
   children(selector: string): Promise<any[]>
   isVisible(selector: string): Promise<boolean>
   isChecked(selector: string): Promise<boolean>
@@ -120,6 +121,19 @@ export function setupPuppeteer(args?: string[]): PuppeteerUtils {
     return page.$eval(selector, (node: any) => [...node.children])
   }
 
+  async function style(
+    selector: string,
+    property: keyof CSSStyleDeclaration,
+  ): Promise<any> {
+    return await page.$eval(
+      selector,
+      (node, property) => {
+        return window.getComputedStyle(node)[property]
+      },
+      property,
+    )
+  }
+
   async function isVisible(selector: string): Promise<boolean> {
     const display = await page.$eval(selector, node => {
       return window.getComputedStyle(node).display
@@ -195,6 +209,7 @@ export function setupPuppeteer(args?: string[]): PuppeteerUtils {
     value,
     html,
     classList,
+    style,
     children,
     isVisible,
     isChecked,
diff --git a/packages/vue/__tests__/e2e/transition.html b/packages/vue/__tests__/e2e/transition.html
index c44da2f78a1..ab404d67dc7 100644
--- a/packages/vue/__tests__/e2e/transition.html
+++ b/packages/vue/__tests__/e2e/transition.html
@@ -16,11 +16,21 @@
   .test-appear,
   .test-enter,
   .test-leave-active,
+  .test-reflow-enter,
+  .test-reflow-leave-to,
   .hello,
   .bye.active,
   .changed-enter {
     opacity: 0;
   }
+  .test-reflow-leave-active,
+  .test-reflow-enter-active {
+    -webkit-transition: opacity 50ms ease;
+    transition: opacity 50ms ease;
+  }
+  .test-reflow-leave-from {
+    opacity: 0.9;
+  }
   .test-anim-enter-active {
     animation: test-enter 50ms;
     -webkit-animation: test-enter 50ms;
diff --git a/packages/vue/package.json b/packages/vue/package.json
index da9d471eb12..87a3340a084 100644
--- a/packages/vue/package.json
+++ b/packages/vue/package.json
@@ -1,6 +1,6 @@
 {
   "name": "vue",
-  "version": "3.5.12",
+  "version": "3.5.13",
   "description": "The progressive JavaScript framework for building modern web UI.",
   "main": "index.js",
   "module": "dist/vue.runtime.esm-bundler.js",
diff --git a/pnpm-lock.yaml b/pnpm-lock.yaml
index 74a863972bd..83a347d885b 100644
--- a/pnpm-lock.yaml
+++ b/pnpm-lock.yaml
@@ -327,8 +327,8 @@ importers:
         specifier: ^6.0.0
         version: 6.0.0(postcss@8.4.48)
       postcss-selector-parser:
-        specifier: ^6.1.2
-        version: 6.1.2
+        specifier: ^7.0.0
+        version: 7.0.0
       pug:
         specifier: ^3.0.3
         version: 3.0.3
@@ -2845,6 +2845,10 @@ packages:
     resolution: {integrity: sha512-Q8qQfPiZ+THO/3ZrOrO0cJJKfpYCagtMUkXbnEfmgUjwXg6z/WBeOyS9APBBPCTSiDV+s4SwQGu8yFsiMRIudg==}
     engines: {node: '>=4'}
 
+  postcss-selector-parser@7.0.0:
+    resolution: {integrity: sha512-9RbEr1Y7FFfptd/1eEdntyjMwLeghW1bHX9GWjXo19vx4ytPQhANltvVxDggzJl7mnWM+dX28kb6cyS/4iQjlQ==}
+    engines: {node: '>=4'}
+
   postcss-value-parser@4.2.0:
     resolution: {integrity: sha512-1NNCs6uurfkVbeXG4S8JFT9t19m45ICnif8zWLd5oPSZ50QnwMfK+H3jv408d4jw/7Bttv5axS5IiHoLaVNHeQ==}
 
@@ -5861,6 +5865,11 @@ snapshots:
       cssesc: 3.0.0
       util-deprecate: 1.0.2
 
+  postcss-selector-parser@7.0.0:
+    dependencies:
+      cssesc: 3.0.0
+      util-deprecate: 1.0.2
+
   postcss-value-parser@4.2.0: {}
 
   postcss@8.4.41:
diff --git a/rollup.config.js b/rollup.config.js
index 1d6f0da4c6a..da7de554b64 100644
--- a/rollup.config.js
+++ b/rollup.config.js
@@ -46,6 +46,12 @@ const pkg = require(resolve(`package.json`))
 const packageOptions = pkg.buildOptions || {}
 const name = packageOptions.filename || path.basename(packageDir)
 
+const banner = `/**
+* ${pkg.name} v${masterVersion}
+* (c) 2018-present Yuxi (Evan) You and Vue contributors
+* @license MIT
+**/`
+
 const [enumPlugin, enumDefines] = inlineEnums()
 
 /** @type {Record<PackageFormat, OutputOptions>} */
@@ -136,11 +142,7 @@ function createConfig(format, output, plugins = []) {
     (isGlobalBuild || isBrowserESMBuild || isBundlerESMBuild) &&
     !packageOptions.enableNonBrowserBranches
 
-  output.banner = `/**
-* ${pkg.name} v${masterVersion}
-* (c) 2018-present Yuxi (Evan) You and Vue contributors
-* @license MIT
-**/`
+  output.banner = banner
 
   output.exports = isCompatPackage ? 'auto' : 'named'
   if (isCJSBuild) {
@@ -372,24 +374,21 @@ function createMinifiedConfig(/** @type {PackageFormat} */ format) {
       {
         name: 'swc-minify',
 
-        async renderChunk(
-          contents,
-          _,
-          { format, sourcemap, sourcemapExcludeSources },
-        ) {
-          const { code, map } = await minifySwc(contents, {
+        async renderChunk(contents, _, { format }) {
+          const { code } = await minifySwc(contents, {
             module: format === 'es',
+            format: {
+              comments: false,
+            },
             compress: {
               ecma: 2016,
               pure_getters: true,
             },
             safari10: true,
             mangle: true,
-            sourceMap: !!sourcemap,
-            inlineSourcesContent: !sourcemapExcludeSources,
           })
 
-          return { code, map: map || null }
+          return { code: banner + code, map: null }
         },
       },
     ],