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Originally Posted by app13533d
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This Reddit post makes it sound like the original materials for HERO were lost. But I am pretty shure that they are safely locked away in the vaults of the original production company/rights holder in China. I mean: We're talking 2002 here. Not the 1960s-1990s when filmmaking in China and Hong Kong was still the wild east with little to no care taken for long term storage of film negatives and stuff.
What Miramax/Disney received for the Blu-ray might have been a sub-optimal scan from an interpositive or something with scanner noise etc. But that does not mean that the original materials don't exist anymore. Maybe the rights situation for these original materials is a little difficult nowadays because so many companies were involved it the films production and China/Hong Kong changes so fast that sometimes proper documentation gets messed up, and that maybe the reason why we don't see any 4k remaster. But it's not due to the lack of materials.
All this is speculation by me, but I would say the chances I am right are 95%.