MIUI 12 code has confirmed that Xiaomi has a foldable smartphone in development, codenamed 'cetus'. The device also has a Qualcomm Snapdragon chipset and a 108 MP primary camera and runs Android 11.
https://www.notebookcheck.net/Foldable-Xiaomi-smartphone-with-a-108-MP-camera-and-a-Qualcomm-Snapdragon-chipset-confirmed-by-MIUI-12-code.500868.0.html