'Shang-Chi and the Legend of the Ten Rings' Sequel in the Works with Writer-Director Returning

Shang-Chi and the Legend of the Ten Rings is getting a sequel with its writer-director returning for the second installment.

Destin Daniel Cretton has signed an overall deal with Marvel Studios and Hulu's Onyx Collective that will allow him to produce TV projects as well as the sequel to the Simu Liu film, according to The Hollywood Reporter.

Liu tweeted an article about the news, joking, "Flopped so hard we got a sequel!!"

Cretton co-wrote and directed the first film in the franchise which debuted in theaters in September. He will also work on a new Marvel series for Disney+, THR reported.

The movie grossed $431.9 million at the worldwide box office, according to Box Office Mojo. The film starred Liu as Shang-Chi, Awkwafina, Tony Leung Chiu-wai, Michelle Yeoh, Meng'er Zhang, Ben Kingsley, Benedict Wong, Ronny Chieng and Fala Chen.

Liu, 32, penned a heartfelt letter on the movie's premiere day as he made history as the first AAPO superhero to lead a film in the MCU.

"The sun rose today to a world where Asian superheroes exist as the leads of their story; that is the gift that [director Destin Daniel Cretton] and @marvelstudios has bestowed upon all of us, across all communities, everywhere. A celebration and a sharing of culture, of language, of laughter, of excitement, of sorrow and of heartbreak," he began the caption.

"I need to say a few words about our director, who has put more work into this thing than you could possibly imagine. Thank you for making this all happen, Destin. For your thoughtfulness, for the dedication and commitment you showed each and every day, for the personal sacrifices you made, and for giving me the opportunity to be a vessel for your story," Liu wrote. "I will never be able to repay what I have learned from my time with you."

He went on to thank his fellow cast members, tagging each of them in the post. "To my incredible co-stars Awkwafina, Benedict Wong, Fala Chen, Meng'er Zhang, Michelle Yeoh, Ronny Chieng, Florian "Big Nasty" Munteanu, (and non-instagrammers Sir Ben Kingsley and Tony Leung), thank you for allowing a complete newbie to occupy space in your world. I felt like I was among legends each and every day. Thank you for your patience and generosity. You are all magnificent in this movie," Liu continued.

"I've said before that this film will change the world. A smile where there wasn't one before. Pride where there was shame. Compassion where there was ignorance. If we reach out and touch even one person, then aren't all of our lives better for it?," Liu noted.

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

"Thank you @disney for throwing the full weight of your platform behind this movie. Many people did not understand that marketing during a pandemic presented unique challenges, or that we worked closely together throughout the entire process. Thank you @jrvs.km for this most beautiful artwork. And thank you all for your support. Today, finally, we make history," he concluded.

Shang-Chi and the Legend of the Ten Rings is now available to stream on Disney+.