44 A-share companies face lock-up expiries next week, totaling 106 billion yuan

The concentration is the story here: one company accounts for well over half of the week's total unlock value, and its tranche is mostly pre-IPO shareholder stock rather than employee or strategic allocations — a holder base with the lowest cost basis and the fewest constraints. That matters less for the index than for sentiment around newly tradable supply in a single large name, and for the precedent it sets for other recent listings approaching similar windows. Whether the overhang is absorbed quietly or reshapes trading in the affected stocks is the open question worth tracking.