Fails in every respect

The most basic requirements for horror are completely absent from this movie; there's no sense of suspense, scariness or horror whatsoever. The creatures were also incredibly unimaginative in makeup and behavior. The whole Chinese myth backstory could potentially have been interesting, but was almost completely ignored as well.

The direction was woefully incompetent. The very elementary act of looking at the screen is hampered by the awful lighting and cinematography. Note to aspiring filmmakers: shaky camera movements are not 'cool' and 'edgy', they're often used to mask a lack of talent and style.