diff --git a/CMakeLists.txt b/CMakeLists.txt
index cf1b59837..df1c51ea0 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -41,7 +41,7 @@ if(NOT CMAKE_BUILD_TYPE)
 endif()
 
 project(paimon
-        VERSION 0.4.0
+        VERSION 0.5.0
         DESCRIPTION "Paimon C++ Project")
 
 string(TOUPPER "${CMAKE_BUILD_TYPE}" UPPERCASE_BUILD_TYPE)
diff --git a/docs/source/conf.py b/docs/source/conf.py
index f33b4a129..9ada1d8e2 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -114,7 +114,7 @@
 # The master toctree document.
 master_doc = "index"
 
-version = "0.4.0"
+version = "0.5.0"
 
 # Documentation channel, set by the paimon-website build pipeline:
 # "main" (default) for the main-branch docs published under main/, "stable"
diff --git a/scripts/releasing/README.md b/scripts/releasing/README.md
index f6300ae9a..d58ddf7ee 100644
--- a/scripts/releasing/README.md
+++ b/scripts/releasing/README.md
@@ -61,7 +61,21 @@ version; replace these illustrative values with the versions for your release:
 scripts/releasing/bump_version.py --check 0.2.0
 ```
 
-After publishing a release, start the next development cycle and review the diff:
+After cutting a release branch, advance the main branch before publishing the
+release with:
+
+```bash
+scripts/releasing/bump_version.py --dev-only 0.2.0 0.3.0
+scripts/releasing/bump_version.py --check 0.3.0
+```
+
+This updates only CMake and `docs/source/conf.py` to the next development
+version. It leaves `docs/source/_static/versions.json` unchanged, including the
+stable release and archived versions. Cutting a release branch does not make
+that version stable.
+
+After publishing a release, you can instead start the next development cycle
+and promote the released version together:
 
 ```bash
 scripts/releasing/bump_version.py 0.2.0 0.3.0
@@ -83,9 +97,9 @@ development version and updates the documentation version switcher:
   label. If the released version is already stable, no additional archive is
   created.
 
-Run the two-version command after publishing the old version, since it marks
-that version stable. It updates local metadata; publishing documentation remains
-a separate step.
+Without `--dev-only`, run the two-version command after publishing the old
+version, since it marks that version stable. It updates local metadata;
+publishing documentation remains a separate step.
 
 To promote the current project version without starting a development cycle,
 use the independent operation:
@@ -98,7 +112,11 @@ This only updates `docs/source/_static/versions.json` and requires CMake and
 `docs/source/conf.py` to use the version being promoted. Repeating it does not
 add an archive.
 
-Both update operations support `--dry-run`, which validates the inputs and lists
+If main was already advanced with `--dev-only`, run `--promote-stable` on the
+release branch after publication, then carry the `versions.json` update back to
+main.
+
+All update modes support `--dry-run`, which validates the inputs and lists
 the files that would be written without modifying them. `--root PATH` selects a
 different source tree. `--check VERSION` remains a read-only consistency check:
 CMake must match `VERSION`, and the documentation version may match either CMake
@@ -269,8 +287,8 @@ than ASF's general one-hour minimum.
 ## Individual tools
 
 - `bump_version.py`: check version metadata, start the next development cycle
-  while marking the released version stable, or independently promote stable
-  documentation.
+  with or without promoting the released version, or independently promote
+  stable documentation.
 - `create_source_release.sh`: deterministically create an archive with GNU
   gzip, a SHA-512 checksum, and an optional detached signature from an immutable
   Git ref.
diff --git a/scripts/releasing/bump_version.py b/scripts/releasing/bump_version.py
index b07d04bd1..074384bb3 100755
--- a/scripts/releasing/bump_version.py
+++ b/scripts/releasing/bump_version.py
@@ -16,7 +16,7 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-"""Check versions or start the next development cycle after a release."""
+"""Check versions, start the next development cycle, or promote stable docs."""
 
 import argparse
 import json
@@ -162,8 +162,10 @@ def checked_files(root: Path, expected: str) -> Dict[Path, str]:
     }
 
 
-def updated_files(root: Path, current: str, new: str) -> Dict[Path, str]:
-    """Promote the released version and start the next development cycle."""
+def updated_files(
+    root: Path, current: str, new: str, *, dev_only: bool = False
+) -> Dict[Path, str]:
+    """Start the next development cycle, optionally promoting the released version."""
     files = checked_files(root, current)
     cmake_path = root / "CMakeLists.txt"
     docs_path = root / "docs/source/conf.py"
@@ -181,6 +183,9 @@ def updated_files(root: Path, current: str, new: str) -> Dict[Path, str]:
         f"documentation version {current}",
     )
 
+    if dev_only:
+        return {cmake_path: files[cmake_path], docs_path: files[docs_path]}
+
     versions_path = root / "docs/source/_static/versions.json"
     versions = load_versions(versions_path)
     promote_stable(versions, current)
@@ -211,10 +216,17 @@ def promoted_files(root: Path, version: str) -> Dict[Path, str]:
 
 def main() -> int:
     parser = argparse.ArgumentParser(description=__doc__)
-    parser.add_argument("current_version", nargs="?", help="just-released project version")
+    parser.add_argument(
+        "current_version", nargs="?", help="current project version (released unless --dev-only)"
+    )
     parser.add_argument("new_version", nargs="?", help="next development version")
     mode = parser.add_mutually_exclusive_group()
     mode.add_argument("--check", metavar="VERSION", help="validate version metadata")
+    mode.add_argument(
+        "--dev-only",
+        action="store_true",
+        help="update development versions without promoting stable docs",
+    )
     mode.add_argument(
         "--promote-stable",
         metavar="VERSION",
@@ -249,7 +261,8 @@ def main() -> int:
             if args.current_version == args.new_version:
                 raise VersionError("current and new versions must differ")
             files = updated_files(
-                args.root.resolve(), args.current_version, args.new_version
+                args.root.resolve(), args.current_version, args.new_version,
+                dev_only=args.dev_only,
             )
         for path, content in files.items():
             if args.dry_run:
diff --git a/scripts/releasing/tests/test_release_tools.py b/scripts/releasing/tests/test_release_tools.py
index f1b20d658..d3fd19c87 100644
--- a/scripts/releasing/tests/test_release_tools.py
+++ b/scripts/releasing/tests/test_release_tools.py
@@ -745,6 +745,36 @@ def test_version_tool_bumps_dev_and_promotes_released_version(self) -> None:
                 json.loads(versions_path.read_text(encoding="utf-8")), versions
             )
 
+    def test_version_tool_bumps_dev_without_promoting_stable(self) -> None:
+        for docs_version in ("1.2.3", "1.1.0"):
+            with self.subTest(docs_version=docs_version), tempfile.TemporaryDirectory() as temp:
+                root = Path(temp)
+                self.create_version_tree(root)
+                docs_path = root / "docs/source/conf.py"
+                docs_path.write_text(f'version = "{docs_version}"\n', encoding="utf-8")
+                versions_path = root / "docs/source/_static/versions.json"
+                versions = json.loads(versions_path.read_text(encoding="utf-8"))
+                versions[0]["name"] = "main (development)"
+                versions.append({
+                    "name": "1.0.0",
+                    "version": "1.0",
+                    "url": "https://paimon.apache.org/docs/cpp/1.0/",
+                })
+                # Preserve existing labels, archives, and formatting byte for byte.
+                versions_path.write_text(json.dumps(versions), encoding="utf-8")
+                before = versions_path.read_bytes()
+                result = self.run_tool(
+                    VERSION_TOOL, "--root", str(root), "--dev-only", "1.2.3", "1.3.0"
+                )
+                self.assertEqual(
+                    result.stdout.splitlines(),
+                    [f"Updated {root / path}" for path in ("CMakeLists.txt", "docs/source/conf.py")],
+                )
+                self.assertIn("VERSION 1.3.0", (root / "CMakeLists.txt").read_text())
+                self.assertEqual(docs_path.read_text(), 'version = "1.3.0"\n')
+                self.assertEqual(versions_path.read_bytes(), before)
+                self.run_tool(VERSION_TOOL, "--root", str(root), "--check", "1.3.0")
+
     def test_version_tool_promotes_series_on_patch_release(self) -> None:
         with tempfile.TemporaryDirectory() as temp:
             root = Path(temp)
@@ -820,6 +850,7 @@ def test_version_tool_dry_run_leaves_all_files_unchanged(self) -> None:
                 ["CMakeLists.txt", "docs/source/conf.py", "docs/source/_static/versions.json"],
             ),
             (("--promote-stable", "1.2.3"), ["docs/source/_static/versions.json"]),
+            (("--dev-only", "1.2.3", "1.3.0"), ["CMakeLists.txt", "docs/source/conf.py"]),
         ]:
             with self.subTest(arguments=arguments), tempfile.TemporaryDirectory() as temp:
                 root = Path(temp)
@@ -841,6 +872,13 @@ def test_version_tool_rejects_invalid_operations_without_writes(self) -> None:
             (("--promote-stable", "1.2"), 1),
             (("--promote-stable", "1.2.3", "1.2.3", "1.3.0"), 1),
             (("--check", "1.2.3", "--promote-stable", "1.2.3"), 2),
+            (("--dev-only", "--check", "1.2.3"), 2),
+            (("--dev-only", "--promote-stable", "1.2.3"), 2),
+            (("--dev-only",), 1),
+            (("--dev-only", "1.2.3"), 1),
+            (("--dev-only", "1.2.3", "1.2.3"), 1),
+            (("--dev-only", "1.2.3", "1.3"), 1),
+            (("--dev-only", "1.2.4", "1.3.0"), 1),
             (("1.2.3", "1.2.3"), 1),
             (("1.2.3", "1.3"), 1),
             (("1.2.4", "1.3.0"), 1),