Hong Kong distributor Panorama Entertainment has unveiled plans to co-finance up to five Chinese-language movies this year, starting with comedy-drama Ho Qing (Erotica), a co-production with China Star Entertainment.

The $2.5m film, which started shooting today (March 24) in Hong Kong, stars Louis Koo and Eason Chan as a pair of enterprising twenty-somethings who build a pornography empire when they leave college and can't find jobs.

Chan Hing-Ka, who previously directed China Star hits La Brassiere and Mighty Baby, is directing and young actresses Niki Chow and Cherrie Ying round out the cast. Koo (pictured) is also producing the film along with Hong Kong production house Icon Pictures.

In addition, Panorama has boarded The Eye II, the sequel to the Pang Brothers' stylish horror hit The Eye. Panorama will co-finance the film with Applause Pictures, the Hong Kong-based production company founded by directors Peter Ho-Sun Chan and Teddy Chen and Panorama chairman Allan Fung.

Fortissimo Film Sales is handling world sales on the film which is set to start shooting in Hong Kong and Thailand this spring.

Panorama is also developing a third project, Perfect Harmony (working title), about a group of young people who come up with a novel way of beating the recession in Hong Kong. Kwok Man-Fai is set to direct with Lawrence Cheng producing.

Panorama made its first foray into production last year when it co-financed Samson Chiu's Golden Chicken with Applause. The film, which tells the story of one woman's life of prostitution, spanning more than 30 years in Hong Kong, picked up five nominations for the upcoming Hong Kong Film Awards and was one of the highest-grossing local releases last year with a final tally of $2.2m (HK$17.3m).