From what we have been told is previous threads around this topic the answer is yes. Bummer for us because we have wanted to rebuild our vCenter box but don't want to lose the vCOps data.
See this thread on the topic
If you move the hosts to a new VC they will get new MOIDs (Managed Object IDs) which is what VCOPs uses to identify VC objects.
So the answer is - yes you will loose the link between the same objects (hosts, vms).