New Mr. Vampire (1987)
New Mr. Vampire (Chinese title: 殭屍翻生; lit. "The Vampire Revived") aka. The New Mr. Vampire is a 1987 Hong Kong horror film directed by Billy Chan and Leung Chung. It stars Chin Siu-ho (as Hsiao Hau Chien) and Lu Fang (as Tai-Fa) as the disciples and Chung Fat and Huang Ha as the rival masters Chin and Wu.
More at Wikipedia.