This is reportedly the real Xiaomi Mi 5; picture shows thin bezels and home button
Speaking of the fingerprint reader, a patent application for such a sensor has been leaked. The only thing we notice about it is that it seems to be embedded in the display, which means that it is an ultrasonic scanner, similar to Qualcomm's version. Note the lack of a home button on the drawing of the phone. This might be for a future model though, because the last word we heard is that there is no ultrasonic fingerprint scanner on the Mi 5, which explains the home button's appearance on the photos.
There are also some images from the design patent for the Xiaomi Mi 5. All of that good stuff, including the pictures of the phone, can be found in the slideshow below.
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source: Weibo (1), (2) via GadgetzArena