1. Not eligible for a new J-1 visa (because of the waiver - immigration intention)
2. Even granted a new J-1, a new waiver is required; what worse is that the Chinese Embassy (perhaps DOS too) will not do the waive again (stated in its instruction)
3. Even you are granted a new J-1 and admit to US,when adjust your status, the waiver info is required. if you use your current waiver, you will commit fraud and it can be found out since your copy of passport and visa and I94 will be needed for 140/485.
4. If all things in 3 work out, it will be a miracle.