Directed by Wilson Yip Wai-shun (Dragon Tiger Gate), the film stars Donnie Yen - star of recent hit Painted Skin and award-winning action choreographer.
Veteran Sammo Hung, who previously collaborated with Bruce Lee and Jackie Chan, is directed the action.
The film is about Ip Man, the grand master of the Wing Chun style of kung fu - characterized by explosive punches and aggressive close-range combat - and sifu (master) to legendary kung-fu superstar Bruce Lee.
In the midst of nationalistic conflicts and racial hatred, starting in the 1920s and 30s in wartorn China, Ip Man participated in matches with other practitioners from the top Wushu schools from the north and south, as well as Japanese kung-fu warriors.
A Hong Kong-China co-production, the $10m film is due for a Christmas release in HK, mainland China, Singapore, Malaysia and Indonesia.
Mandarin is also selling Tsui Hark's romantic thriller Missing, which was the closing film at the Rome Film Festival this year. Shot in the underwater city in Okinawa, the film follows a couple of expert divers about to get married when he disappears and she loses her memory and sets out to find out what happened.