Hong Kong-based Emperor Motion Pictures (EMP) has taken an equity position in the new Jay Chou martial arts action comedy Kung Fu Dunk, and will handle sales of the film to all territories in Europe and the Americas.

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.