diff --git a/.github/workflows/build.yml b/.github/workflows/build.yml
index 8f67bc7..4b4abe7 100644
--- a/.github/workflows/build.yml
+++ b/.github/workflows/build.yml
@@ -14,6 +14,7 @@ on:
       - "renovate/**"
     tags:
       - '[0-9][0-9].[0-9]+.[0-9]+'
+      - '[0-9][0-9].[0-9]+.[0-9]+-rc[0-9]+'
   pull_request:
   merge_group:
   schedule:
@@ -344,9 +345,18 @@ jobs:
         with:
           crate: cargo-edit
           bin: cargo-set-version
-      - name: Update version if PR
-        if: ${{ github.event_name == 'pull_request' }}
+      - name: Update version if PR against main branch
+        if: ${{ github.event_name == 'pull_request' && github.ref == 'refs/heads/main' }}
         run: cargo set-version --offline --workspace 0.0.0-pr${{ github.event.pull_request.number }}
+      - name: Update version if PR against non-main branch
+        # For PRs to be merged against a release branch, use the version that has already been set in the calling script.
+        if: ${{ github.event_name == 'pull_request' && github.ref != 'refs/heads/main' }}
+        env:
+          PR_NUMBER: ${{ github.event.pull_request.number }}
+        run: |
+          MANIFEST_VERSION=$(cargo metadata --format-version 1 --no-deps | jq -r '.packages[0].version')
+          PR_VERSION="${MANIFEST_VERSION}-pr${PR_NUMBER}"
+          cargo set-version --offline --workspace "$PR_VERSION"
 
       # Recreate charts and publish charts and docker image. The "-e" is needed as we want to override the
       # default value in the makefile if called from this action, but not otherwise (i.e. when called locally).
@@ -410,9 +420,18 @@ jobs:
         with:
           crate: cargo-edit
           bin: cargo-set-version
-      - name: Update version if PR
-        if: ${{ github.event_name == 'pull_request' }}
+      - name: Update version if PR against main branch
+        if: ${{ github.event_name == 'pull_request' && github.ref == 'refs/heads/main' }}
         run: cargo set-version --offline --workspace 0.0.0-pr${{ github.event.pull_request.number }}
+      - name: Update version if PR against non-main branch
+        # For PRs to be merged against a release branch, use the version that has already been set in the calling script.
+        if: ${{ github.event_name == 'pull_request' && github.ref != 'refs/heads/main' }}
+        env:
+          PR_NUMBER: ${{ github.event.pull_request.number }}
+        run: |
+          MANIFEST_VERSION=$(cargo metadata --format-version 1 --no-deps | jq -r '.packages[0].version')
+          PR_VERSION="${MANIFEST_VERSION}-pr${PR_NUMBER}"
+          cargo set-version --offline --workspace "$PR_VERSION"
       - name: Build manifest list
         run: |
           # Creating manifest list
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0535678..db74895 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,8 @@ All notable changes to this project will be documented in this file.
 
 ## [Unreleased]
 
+## [24.11.1-rc1] - 2024-12-06
+
 ## [24.11.0] - 2024-11-18
 
 ### Added
diff --git a/Cargo.lock b/Cargo.lock
index a752a20..f85e59a 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2166,7 +2166,7 @@ checksum = "6980e8d7511241f8acf4aebddbb1ff938df5eebe98691418c4468d0b72a96a67"
 
 [[package]]
 name = "stackable-hello-world-operator"
-version = "24.11.0"
+version = "24.11.1-rc1"
 dependencies = [
  "anyhow",
  "built",
diff --git a/Cargo.nix b/Cargo.nix
index 807ff41..2b5114e 100644
--- a/Cargo.nix
+++ b/Cargo.nix
@@ -6669,7 +6669,7 @@ rec {
       };
       "stackable-hello-world-operator" = rec {
         crateName = "stackable-hello-world-operator";
-        version = "24.11.0";
+        version = "24.11.1-rc1";
         edition = "2021";
         crateBin = [
           {
diff --git a/Cargo.toml b/Cargo.toml
index 02268cf..c7a537c 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -3,7 +3,7 @@ members = ["rust/operator-binary"]
 resolver = "2"
 
 [workspace.package]
-version = "24.11.0"
+version = "24.11.1-rc1"
 authors = ["Stackable GmbH <info@stackable.tech>"]
 license = "OSL-3.0"
 edition = "2021"
diff --git a/deploy/helm/hello-world-operator/Chart.yaml b/deploy/helm/hello-world-operator/Chart.yaml
index cc3401b..2cd87e7 100644
--- a/deploy/helm/hello-world-operator/Chart.yaml
+++ b/deploy/helm/hello-world-operator/Chart.yaml
@@ -1,8 +1,8 @@
 ---
 apiVersion: v2
 name: hello-world-operator
-version: "24.11.0"
-appVersion: "24.11.0"
+version: "24.11.1-rc1"
+appVersion: "24.11.1-rc1"
 description: The Stackable Operator for Hello World
 home: https://github.com/stackabletech/hello-world-operator
 maintainers:
diff --git a/tests/release.yaml b/tests/release.yaml
index 019ac8e..0032e1d 100644
--- a/tests/release.yaml
+++ b/tests/release.yaml
@@ -7,4 +7,4 @@ releases:
     description: Integration test
     products:
       hello-world:
-        operatorVersion: 24.11.0
+        operatorVersion: 24.11.1-rc1