EMP, which had previously acquired Hong Kong rights to the film, reached the agreement with Taiwan's Chang-Hong Channel Film & Video on the eve of the Cannes market.
Principal photography on the $10m film, previously known as Slam Dunk, started in March in Shanghai and is scheduled to wrap in Taiwan in June. Taiwan's Kevin Chu is directing with Tony Ching Siu-tung as action director.
Chou is one of Asia's hottest singer-actors and recently starred in Zhang Yimou's Curse Of The Golden Flower. His new project reunites several other Golden Flower talents including DoP Zhao Xiaoding and Oscar-nominated art director Yee Chung-man.
Kung Fu Dunk, which is scheduled for release over Chinese New Year in February in 2008, also stars Charlene Choi, Chen Bo-lin and Eric Tsang.