A release date was announced for "Crouching Tiger, Hidden Dragon II: The Green Legend" during a press conference in Beijing on Monday.
The co-production between Netflix, The Weinstein Company, Pegasus Entertainment and the China Film Group Corporation is expected to premiere on Netflix and IMAX theaters in the United States and China in Feb. 2016.
The film is a sequel to the 2000 martial arts film "Crouching Tiger, Hidden Dragon" that won the Academy Award for Best Foreign Language Film.
The sequel is directed by Yuen Woo-ping, who was the action choreographer for the first film directed by Ang Lee.
The sequel continues the story of the characters of Wang Dulu's series of martial arts novels. In it, the Green Destiny, an ancient sword, is stolen, and it is up to Yu Shu-lien, played by Michelle Yeoh, to find the weapon. She must team up with her former fiancé, Silent Wolf, played by Donnie Yen.
Other members of the cast include Chinese American actors Harry Shum Jr. and Jason Scott Lee.
The film's producers approached Ang Lee and Ronny Yu before Yuen was chosen to direct the film.
"I worked on 'Crouching Tiger, Hidden Dragon' from the beginning to the end. Though it was a good work that will be difficult to surpass, I wanted to give it a try," Yuen said in the press release.
"Crouching Tiger, Hidden Dragon II: The Green Legend" is scheduled for release in mainland Chinese cinemas on Feb. 8, 2016, while the North American release is set for a week later, where the film will be released on Netflix and IMAX theaters simultaneously.