The thread starter's pic is just pure fan art.
And yes, there is definitely a new twin-engine heavy 5th generation fighter under R&D at SAC, this is confirmed in Li Tian's recent published book. (Li Tian is the chief scientist at SAC/601th insitutue and a senior fellow of the academy of engineering of China).
The fighter will have conventional layout with large leading edges and large wings, this is based on a early proposal for the J-XX project, not merely a stealth su-27.
SAC's 5th generation stealth fighter is largely self-funded, most of their sub-constractors, save the engines providers , are these who have also failed the J-XX competitions, so it is kind of a league of "losers".
The success of SAC's upcoming stealth fighter is crucial to AVIC group, since J-20 project using open bidding to decide their sub-contractors, which means a lot of companies outside of AVIC won the contracts. (e.g. J-20's AESA radar provider is 14th insistue instead of AVIC's own Insistutue of Radar and Electoncs Equipments).
Meanwhile SAC's stealth fighter will limit their sub-contractors to AVIC's other companies/factories, thats whay AVIC decided to self-fianced this project, therefore the cost of this fighter may not be significant lower than J-20.
According to the more reliable source (the guy who successfully predicted the time of the maiden flight of J-20 and other details, milestones about J-20 in 2009), the fighter is otpimized for multirole purpose, unlike J-20, which is a dictated air-superiority fighter, but SAC's fighter can also do the 4S requirements for the 5th generation fighter, althrough at a lesser degree.
However, the guy also mentioned that SAC's mutli-role stealth fighter will like to face tough competition from another AVIC's design insistute, 603th insistute, which is expected to develop a stealth heavy fighter-bomber, place more emphasis on stealth, low-cost, and larger internal weapon bay size, at the expense of inferior dog-fight performance.