It would but this time the breach of sovereignty is more obvious than Crimea.
China's biggest diplomatic principle is respect for sovereignty and UN rights. China has used a lot of this rhetoric as part of its international image (1st and 3rd world).
What's happening now might be too blatant for China to play the double game it played in Crimea's UN vote. Ofc it all depends on how the West drafts the UN Security Council resolution. If they are smart they would include a lot of "sovereignty" "UN rights" etc
In any case, China is a world power so it should be expected by the international community that sometimes it will bend the rules if necessary. In this case, as you said, Russia is far too important for China to score an own goal in order to please the West.
This is what I think will happen:
1% to vote yes with the West
95% abstain
4% to tote no