THQ Nordic recently held there financial presentation and during their conference Shenmue 3 had its in-engine trailer showcased, teasing the games updated graphics engine.
Shenmue 3 is being developed by Yu Suzuki's independent company, Ys Net which is located in Tokyo, Japan. The team developing the third installment into the franchise is comprised of many original Shenmue team members from the early games.
The trailer is featured at about 2 minutes and displays the current updated graphics engine, keep in mind that this trailer is also pre-alpha footage which leads to suggest that the title will be much better looking when it is fully released. Shenmue 3 was recently delayed until 2019, this decision was made my THQ Nordic and Deep Silver as they both believed that the developers should have some more time to polish the game that so many fans are dying to get their hands-on.