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Jul 20, 2016 08:05 AM EDT

'Now You See Me 3' News: Next Installent To Include Chinese Spinoff; Lionsgate Partners With Leomus Pictures [VIDEO]

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"Now You See Me 2" has just been released in June, however, its next installment, "Now You See Me 3" has been talking online. Some reports claim that the next installment will include Chinese spinoff.

On July 15, "Now You See Me 3" was confirmed being developed as an official U.S.-China co-production. Lionsgate and Beijing-based film company Leomus Pictures collaborated to produce this installment.

"We're working closely with Lionsgate on the story," Leomus Pictures CEO Jie Qiu told The Hollywood Reporter.

According to the source, the film will be shot in China and most of its cast are Chinese. Lionsgate and Leomus are very optimistic about the project because "Now You See Me 2" debuted to $43.3 million in China.

In previous report, "Now You See Me 2" overpowered "Independence Day" sequel.

The first installment of "Now You See Me," which was released in China in 2013, grossed $23 million. In the first sequel, cast members were Jesse Eisenberg, Woody Harrelson, Mark Ruffalo, Dave Franco, Isla Fisher, and Morgan Freeman.

In the next sequel, the returning cast members are Eisenberg, Ruffalo, Harrelson, Franco, and Freeman. The villain in this sequel is Daniel Radcliffe and Lizzy Caplan replaced Isla Fisher from the first sequel. Taiwanese mega-star Jay Chou also joins in a supporting role as Li.

Leomus was also involved in "Now You See Me 2" during the early stage, so this is not the first time for the two productions to work together. The story takes place in China. As you can see in the trailer, after the lead characters slide, they were taken in China.

The sequel includes a Chinese character, portrayed by Chou. According to Qui, they chose him because he is "well known off-screen love of magic tricks" 

There are no details given about the release date and its plot. To keep you updated, keep your tabs on University Herald for more upcoming news.

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