diff --git a/.cargo/config.toml b/.cargo/config.toml
index bba8420a7806..a23f330880d6 100755
--- a/.cargo/config.toml
+++ b/.cargo/config.toml
@@ -55,6 +55,10 @@ rustflags = [
   "-C", "link-args=/DEFAULTLIB:ucrt.lib"
 ]
 
+
+[target.wasm32-wasip1-threads]
+rustflags = ["--cfg", "tokio_unstable"]
+
 [target.x86_64-pc-windows-msvc]
 rustflags = ["-C", "target-feature=+crt-static"]
 [target.i686-pc-windows-msvc]
diff --git a/Cargo.toml b/Cargo.toml
index d720cbd5b7ec..d7a296abb159 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -76,7 +76,7 @@ smol_str         = { version = "0.3.0" }
 stacker          = { version = "0.1.17" }
 sugar_path       = { version = "1.2.0", features = ["cached_current_dir"] }
 syn              = { version = "2.0.95" }
-tokio            = { version = "1.42.0", features = ["rt-multi-thread", "rt"] }
+tokio            = { version = "1.42.0", features = ["rt", "rt-multi-thread"] }
 # don't include debug & trace in release binary to save release binary size
 tracing            = { version = "0.1.41", features = ["max_level_trace", "release_max_level_info"] }
 tracing-subscriber = { version = "0.3.19" }
@@ -387,6 +387,14 @@ lto             = "thin"
 split-debuginfo = "off"
 strip           = false
 
+[profile.release-wasi]
+codegen-units = 16
+debug         = 'full'
+inherits      = "release"
+lto           = "thin"
+opt-level     = "s"
+strip         = "none"
+
 
 # the following lints rules are from https://github.com/biomejs/biome/blob/4bd3d6f09642952ee14445ed56af81a73796cea1/Cargo.toml#L7C1-L75C1
 [workspace.lints.rust]
diff --git a/crates/node_binding/Cargo.toml b/crates/node_binding/Cargo.toml
index b4a6b44bd0f0..2d7c5a00feff 100644
--- a/crates/node_binding/Cargo.toml
+++ b/crates/node_binding/Cargo.toml
@@ -55,7 +55,7 @@ rustc-hash         = { workspace = true }
 serde              = { workspace = true }
 serde_json         = { workspace = true }
 swc_core           = { workspace = true, default-features = false, features = ["ecma_transforms_react"] }
-tokio              = { workspace = true, features = ["rt", "macros", "test-util", "parking_lot", "tracing"] }
+tokio              = { workspace = true, features = ["rt", "rt-multi-thread", "macros", "test-util", "tracing"] }
 
 rayon                                  = { workspace = true }
 rspack_loader_lightningcss             = { workspace = true }
@@ -103,7 +103,7 @@ rspack_plugin_web_worker_template      = { workspace = true }
 rspack_plugin_worker                   = { workspace = true }
 
 [target.'cfg(not(target_family = "wasm"))'.dependencies]
-tokio = { workspace = true, features = ["rt-multi-thread"] }
+tokio = { workspace = true, features = ["parking_lot"] }
 
 rspack_tracing = { workspace = true, features = ["otel"] }
 
diff --git a/crates/node_binding/binding.d.ts b/crates/node_binding/binding.d.ts
index b2f8f49d4581..3d469963ac43 100644
--- a/crates/node_binding/binding.d.ts
+++ b/crates/node_binding/binding.d.ts
@@ -2510,6 +2510,22 @@ export interface RegisterJsTaps {
   registerRsdoctorPluginAssetsTaps: (stages: Array<number>) => Array<{ function: ((arg: JsRsdoctorAssetPatch) => Promise<boolean | undefined>); stage: number; }>
 }
 
+/**
+ * Shutdown the tokio runtime manually.
+ *
+ * This is required for the wasm target with `tokio_unstable` cfg.
+ * In the wasm runtime, the `park` threads will hang there until the tokio::Runtime is shutdown.
+ */
+export declare function shutdownAsyncRuntime(): void
+
+/**
+ * Start the async runtime manually.
+ *
+ * This is required when the async runtime is shutdown manually.
+ * Usually it's used in test.
+ */
+export declare function startAsyncRuntime(): void
+
 export interface ThreadsafeNodeFS {
   writeFile: (name: string, content: Buffer) => Promise<void>
   removeFile: (name: string) => Promise<void>
diff --git a/crates/node_binding/build.rs b/crates/node_binding/build.rs
index bbfc9e4b9e1e..f30eebcbda25 100644
--- a/crates/node_binding/build.rs
+++ b/crates/node_binding/build.rs
@@ -1,3 +1,4 @@
 fn main() {
+  println!("cargo::rustc-check-cfg=cfg(tokio_unstable)");
   napi_build::setup();
 }
diff --git a/crates/node_binding/package.json b/crates/node_binding/package.json
index 4593abb45eef..5948467e6998 100644
--- a/crates/node_binding/package.json
+++ b/crates/node_binding/package.json
@@ -18,7 +18,8 @@
     "build:ci": "node scripts/build.js --profile ci",
     "build:profiling": "node scripts/build.js --profile profiling",
     "build:release": "node scripts/build.js --profile release",
-    "build:wasm": "DISABLE_PLUGIN=1 RUST_TARGET=wasm32-wasip1-threads node scripts/build.js",
+    "build:dev:wasm": "DISABLE_PLUGIN=1 RUST_TARGET=wasm32-wasip1-threads node scripts/build.js",
+    "build:release:wasm": "DISABLE_PLUGIN=1 RUST_TARGET=wasm32-wasip1-threads node scripts/build.js --profile release-wasi",
     "move-binding": "node scripts/move-binding",
     "test": "tsc -p tsconfig.type-test.json"
   },
diff --git a/crates/node_binding/rspack.wasi-browser.js b/crates/node_binding/rspack.wasi-browser.js
index 5bef411f5aae..d2f977a979fe 100644
--- a/crates/node_binding/rspack.wasi-browser.js
+++ b/crates/node_binding/rspack.wasi-browser.js
@@ -96,3 +96,5 @@ export const JsRspackSeverity = __napiModule.exports.JsRspackSeverity
 export const RawRuleSetConditionType = __napiModule.exports.RawRuleSetConditionType
 export const registerGlobalTrace = __napiModule.exports.registerGlobalTrace
 export const RegisterJsTapKind = __napiModule.exports.RegisterJsTapKind
+export const shutdownAsyncRuntime = __napiModule.exports.shutdownAsyncRuntime
+export const startAsyncRuntime = __napiModule.exports.startAsyncRuntime
diff --git a/crates/node_binding/rspack.wasi.cjs b/crates/node_binding/rspack.wasi.cjs
index e8c604e1940c..8cb7995d3fbe 100644
--- a/crates/node_binding/rspack.wasi.cjs
+++ b/crates/node_binding/rspack.wasi.cjs
@@ -121,3 +121,5 @@ module.exports.JsRspackSeverity = __napiModule.exports.JsRspackSeverity
 module.exports.RawRuleSetConditionType = __napiModule.exports.RawRuleSetConditionType
 module.exports.registerGlobalTrace = __napiModule.exports.registerGlobalTrace
 module.exports.RegisterJsTapKind = __napiModule.exports.RegisterJsTapKind
+module.exports.shutdownAsyncRuntime = __napiModule.exports.shutdownAsyncRuntime
+module.exports.startAsyncRuntime = __napiModule.exports.startAsyncRuntime
diff --git a/crates/node_binding/src/lib.rs b/crates/node_binding/src/lib.rs
index 2f93da2c5f0b..4f47d8d4da53 100644
--- a/crates/node_binding/src/lib.rs
+++ b/crates/node_binding/src/lib.rs
@@ -448,3 +448,23 @@ pub fn cleanup_global_trace() {
     *state = TraceState::Off;
   });
 }
+
+#[napi]
+/// Shutdown the tokio runtime manually.
+///
+/// This is required for the wasm target with `tokio_unstable` cfg.
+/// In the wasm runtime, the `park` threads will hang there until the tokio::Runtime is shutdown.
+pub fn shutdown_async_runtime() {
+  #[cfg(all(target_family = "wasm", tokio_unstable))]
+  napi::bindgen_prelude::shutdown_async_runtime();
+}
+
+#[napi]
+/// Start the async runtime manually.
+///
+/// This is required when the async runtime is shutdown manually.
+/// Usually it's used in test.
+pub fn start_async_runtime() {
+  #[cfg(all(target_family = "wasm", tokio_unstable))]
+  napi::bindgen_prelude::start_async_runtime();
+}
diff --git a/crates/rspack_fs/src/native_fs.rs b/crates/rspack_fs/src/native_fs.rs
index 05a282901fdd..2c52b4ce3ff0 100644
--- a/crates/rspack_fs/src/native_fs.rs
+++ b/crates/rspack_fs/src/native_fs.rs
@@ -224,8 +224,31 @@ impl ReadableFileSystem for NativeFileSystem {
   }
 
   fn canonicalize(&self, path: &Utf8Path) -> Result<Utf8PathBuf> {
-    let path = dunce::canonicalize(path)?;
-    Ok(path.assert_utf8())
+    // Comes from rspack_resolver
+    use std::path::Component;
+    let mut path_buf = path.to_path_buf();
+    loop {
+      let link = fs::read_link(&path_buf)?;
+      path_buf.pop();
+      for component in link.components() {
+        match component {
+          Component::ParentDir => {
+            path_buf.pop();
+          }
+          Component::Normal(seg) => {
+            path_buf.push(seg.to_string_lossy().trim_end_matches('\0'));
+          }
+          Component::RootDir => {
+            path_buf = Utf8PathBuf::from("/");
+          }
+          Component::CurDir | Component::Prefix(_) => {}
+        }
+      }
+      if !fs::symlink_metadata(&path_buf)?.is_symlink() {
+        break;
+      }
+    }
+    Ok(path_buf)
   }
 
   async fn async_read(&self, file: &Utf8Path) -> Result<Vec<u8>> {
diff --git a/crates/rspack_regex/src/napi.rs b/crates/rspack_regex/src/napi.rs
index 09606fd7341b..2bac50683a78 100644
--- a/crates/rspack_regex/src/napi.rs
+++ b/crates/rspack_regex/src/napi.rs
@@ -28,8 +28,8 @@ impl FromNapiValue for RspackRegex {
     let global = env.get_global()?;
     let object_prototype_to_string = global
       .get_named_property_unchecked::<JsObject>("Object")?
-      .get_named_property::<JsObject>("prototype")?
-      .get_named_property::<Function>("toString")?;
+      .get_named_property_unchecked::<JsObject>("prototype")?
+      .get_named_property_unchecked::<Function>("toString")?;
 
     let js_string = object_prototype_to_string
       .apply(&js_object, env.get_undefined()?.into_unknown())?
diff --git a/package.json b/package.json
index f1a048ace79e..a688361de860 100644
--- a/package.json
+++ b/package.json
@@ -12,12 +12,14 @@
     "check-dependency-version": "pnpx check-dependency-version-consistency@5 . --ignore-dep chalk --ignore-package webpack-test --ignore-package webpack-examples",
     "build:js": "pnpm --filter \"@rspack/core\" build:force && pnpm --parallel --filter \"@rspack/*\" --filter \"create-rspack\" --filter \"!@rspack/core\" build",
     "build:cli:dev": "npm run build:binding:dev && npm run build:js",
+    "build:cli:dev:wasm": "pnpm --filter @rspack/binding build:dev:wasm && npm run build:js",
     "build:cli:release": "npm run build:binding:release && npm run build:js",
     "build:cli:release:all": "pnpm --filter @rspack/binding build:release:all && npm run build:js",
     "build:cli:release:arm64": "pnpm --filter @rspack/binding build:release:arm64 && npm run build:js",
     "build:cli:release:x64": "pnpm --filter @rspack/binding build:release:x64 && npm run build:js",
     "build:cli:release:linux": "pnpm --filter @rspack/binding build:release:linux && npm run build:js",
     "build:cli:release:win": "pnpm --filter @rspack/binding build:release:win && npm run build:js",
+    "build:cli:release:wasm": "pnpm --filter @rspack/binding build:release:wasm && npm run build:js",
     "test:js": "pnpm -r run test",
     "format:rs": "cargo fmt --all",
     "format:js": "pnpm run format-ci:js --write",