According for Xiaomiui.net, Xiaomi is currently testing the Mi 12 Lite and it will be rolling out in Asian and European market. The Mi 12 Lite design resembles to the Mi 12 series, however offering much larger screen at 6.55 inches OLED display. It has a refresh rate and resolution at 2400x1080p.
The Mi 12 Lite will also be sporting 64MP Samsung ISOCELL GW3 as its primary lens followed by ultra wide angle and macro lens. The powerhouse will be a Snapdragon 778G+ SoC. There are also two other Mi 12 Lite variant which are V22.214.171.124.SLIMIXM and V126.96.36.199.SLEUXM. It is still not sure whether is has any relation to the size of the storage.
The Mi 12 Lite is now on IMEI database which means launch can be nearby.