diff --git a/.gitignore b/.gitignore
index 01d59f7..1ff89c8 100644
--- a/.gitignore
+++ b/.gitignore
@@ -272,3 +272,6 @@
 /nmstate-2.2.46.tar.gz
 /nmstate-2.2.46.tar.gz.asc
 /nmstate-vendor-2.2.46.tar.xz
+/nmstate-2.2.48.tar.gz
+/nmstate-2.2.48.tar.gz.asc
+/nmstate-vendor-2.2.48.tar.xz
diff --git a/nmstate.spec b/nmstate.spec
index aa8632b..a2ad458 100644
--- a/nmstate.spec
+++ b/nmstate.spec
@@ -3,7 +3,7 @@
 %define libname libnmstate
 
 Name:           nmstate
-Version:        2.2.46
+Version:        2.2.48
 Release:        1%{?dist}
 Summary:        Declarative network manager API
 License:        LGPLv2+
@@ -143,6 +143,14 @@ popd
 /sbin/ldconfig
 
 %changelog
+* Sat Jul 12 2025 Gris Ge <fge@redhat.com> - 2.2.48-1
+- Upgrade to 2.2.48
+- Validate OVN bridge mapping. RHEL-85787
+- Support bond `lacp_active` and `ns_ip6_target`. RHEL-85784
+- Support matching by PCI adress. RHEL-88993
+- Apply dispatch changes first. RHEL-101742
+- Fix SRIOV VF reference. RHEL-93180
+
 * Fri Jun 20 2025 Gris Ge <fge@redhat.com> - 2.2.46-1
 - Upgrade to 2.2.46
 - Store DNS to both iface and global DNS. RHEL-91291
diff --git a/sources b/sources
index e94a76a..952177a 100644
--- a/sources
+++ b/sources
@@ -1,4 +1,4 @@
-SHA512 (nmstate-2.2.46.tar.gz) = 7c274a65fa05c58218e7f227032cfbcd619b8b4c05c67d98ae621bddff3fe0670ccaf090a60c27aa8232200ab1c7dc8c4a1ad03a36ff172af21d43c7e510a8c9
-SHA512 (nmstate-2.2.46.tar.gz.asc) = 72c56b20efcf79d4cb85854f0ba065bde0b1d2587fecfab752fdde39bfc0ea3d1ae9695ba0193030dc7737d21e259aa55f708eff5fa273dbd9fb17d7be89e529
-SHA512 (nmstate-vendor-2.2.46.tar.xz) = b406d37bc82adad8da7faf78ec8730a668dcf76cac93c27354a0a7da95d5c7ae4faa9bc3ec5bfcf9750545d8b0dc1ef5aa4ee67c2707be57403924a4ab750bd3
+SHA512 (nmstate-2.2.48.tar.gz) = 56b6810abb9ebbc1d98b8428f85367fc24748551d78963c4fab48a896e1cc656927c0eee102a218a519f4eb557e2e435a50a9745c393d8b2644d7a88fca5606e
+SHA512 (nmstate-2.2.48.tar.gz.asc) = 8527ea6d8e816d556eb9702a3fdcf02fda0ceb72a6439e4cc3015f934074addcaa437e701841c111699b9e800c16c4797f2e376cbb9dd4a73bb0eef1a0daa5a6
 SHA512 (nmstate.gpg) = e465239bc2a037457c5cb105f69cb033c092708285689f906b5e40cae01e12629bec1cdee7eb6aa3a327e4fc93dfd5ce0e006b295fe5ced8df039f9098cef0bc
+SHA512 (nmstate-vendor-2.2.48.tar.xz) = f646d16b757694f561084a9161562fe36aee34b9f08f15da884ab588030b6f77c157310194d98f21a31c94d1ac037a54aa597307577dcd94948e84ad9ff2a4b3