Kung-fu star Donnie Yen and director Wilson Yip introduced their new film, “Ip Man 2,” at a packed press conference at the Hong Kong International Film Festival on Monday.

“Ip Man 2,” the follow-up to 2008's 'Ip Man,' follows the life of the 20th-century Chinese martial-arts master by the same name. His students included a young Bruce Lee.

Ip Man, who was born in 1893 in Guangdong province and died in Hong Kong in 1972, is depicted in the movie as a brave and honest man, a loving husband and a devoted father.

“We created a certain image” based on a real person, Mr. Yen said in an interview with The Wall Street Journal.

“Ip Man is today's standard of a hero because he can fight,” he said. “But he is also a kind, responsible family man, and that can appeal to all audiences.”

Despite the popularity of the first film and the eagerly awaited sequel next month, Mr. Yen said he doesn't expect a third installment. 'I think two is enough for me as an actor and Wilson Yip as a director,' he said.

“We could easily make five more, but we would throw artistic value out the window,” he added. “I want people to remember what we did for the industry.”

“Ip Man 2,” which was produced on a budget of about $10 million, according to producer Raymond Wong, is scheduled for release in Hong Kong and mainland China on April 29. It's too early to say whether the movie will get a U.S. release.