Ann: Release of CDC Securities from Voluntary Escrow, page-4

Should be none, these are just now available for the owners to sell, that's all. They were already counted for, just locked away and couldn't be sold. So just impact share price and volume

Escrow conditions are can sell 1/12th of them in any month. Not sure if that's cumulative

Chinese companies are a race to the bottom. Often the owners have given shares to people, or borrowed against them. Often the "sell" decision is driven by other people, whoever they may be. So the day the escrow expires they have to pay back the piper. Piper knows these things share price have ALL fallen (anyone show me one Chinese stock trading above its IPO price?) so proceeds to dump as much as possible before the price falls again. Making self fulfilling