Gangster movie Election won four prizes at the Hong Kong film awards, while epic Seven Swords failed to win in any of its 11 nominated categories.
Zhou Xun and Tony Leung Ka-fai won best actress and best actor awards
Election, about the internal struggle for leadership within a triad gang, won best film, best actor, best director and best screenplay.
Musical romance Perhaps Love picked up awards for best actress, art direction, make-up and cinematography.
Peter Kam won best film song and best film score for Isabella.
"I feel very excited," he told reporters.
Election director Johnnie To was not there to collect his best film and director awards from action hero Jackie Chan.
Chou is signed to Sony records
The awards took place inside the Hong Kong Coliseum in front of an audience of 6,000.
Best actor Tony Leung Ka-fai escaped a jail sentence earlier this year when he was convicted of a second drink-driving offence. The star was given a suspended prison sentence.
Best actress winner Zhou Xun was overcome with emotion as she accepted her prize but managed to compose herself backstage.
"I am feeling much calmer now. My heart was beating... I wanted to thank my parents and the directors who helped me to get to where I am today," she said.
Taiwanese pop star Jay Chou won the best newcomer award for his role in car racing movie Initial D - the film picked up four awards in total, including sound design and visual effects.
"I felt very nervous. This is the first award of the night. I didn't have many expectations. I feel very happy," he said.