Mr. Vampire III, a Hong Kong horror-comedy, does not feature any identifiable LGBTQ+ characters or themes. The story centers on supernatural battles and comedic elements, rendering the portrayal of LGBTQ+ identities as not applicable to the film's content.

Mr. Vampire III, a Hong Kong horror-comedy, does not include any transsexual characters or themes within its plot. The story centers on supernatural battles and Taoist magic, with no elements related to transgender identity.

The film features a powerful female ghost who controls male jiangshi and uses spiritual abilities. However, she does not engage in or win direct physical combat, such as hand-to-hand or melee weapon fights, against male opponents. No other female characters participate in significant physical combat.

Mr. Vampire III is a sequel in an original film series, not an adaptation of pre-existing source material with established characters or a reboot of legacy characters. There are no instances of characters canonically established as one gender being portrayed as another.

Mr. Vampire III is a Hong Kong film set within Chinese folklore, featuring characters who are consistently portrayed as ethnically Chinese by Chinese actors. There is no source material or prior canon establishing any character as a different race, thus no race swap occurs.