Celestial is partnering with the newly-established Tencent Pictures to produce yet another Shaw Brothers remake titled Moonlight Blade, a re-working of Chor Yuen’s The Magic Blade, a 1976 swordfight-filled martial arts film starring Ti Lung (The Pirate) and Lo Lieh (Bruce’s Deadly Fingers).

Tencent has hired Xu Haofeng (The Master) to direct the project, which he will shoot when he wraps up his current project, Hidden Blade.

Xu made a name for himself by penning the screenplay for Wong Kar-Wai’s The Grandmaster. But it was 2011’s The Sword Identity, his directorial debut, which showed Xu’s true talent. Xu is known for presenting martial arts in a less stylized and more realistic manner.

If you’re curious to see what Xu is capable of, be sure to catch The Master (aka The Final Master, read our review), which was recently released by U.S. release by United Entertainment Partners last May. Additionally, Lionsgate will be releasing the DVD for Xu’s Judge Archer in November.

You can also look forward to Derek Yee’s fourthcoming Shaw Brothers remake of Death Duel (1977), starring Kenny Lin Geng-Xin (Young Detective Dee), Peter Ho Yun-Tung (The Monkey King), Jiang Yi-Yan (The Bullet Vanishes) and Jiang Meng-Jie (Kung Fu Man).

We’ll keep you updated with Magic Blade as we hear more!

Updates: Check out the new teaser poster for Moonlight Blade (via AFS).