This is China Folk Culture Village (深圳中国民俗文化村), part of the Splended China theme park. It's in Shenzhen, not Hong Kong. Here's the page for this specific show. That's in Chinese though, so here's an English site that's about the park more generally.

The show is a rough recreation of the Battle of Sarhū in which Nurhachi, founder of the Qing Dynasty, won against overwhelming odds.

That's just the backdrop though. The history isn't the main draw. The acrobats/actors are brought in from Inner Mongolia and it's part of the park's display of China's ethnic minorities from around China. For example those round buildings on the left are meant to look like traditional steppe-peoples' gers, and other parts of the park likewise show iconic parts of the other minorities. If I'm not mistaken, gers/yurts weren't actually a Manchu thing, but to most Chinese the two cultures have blended. And anyway most people are attending for the stunts and exoticism of the ethnic groups, rather than the history of the specific battle. It's a good story though, so it makes a good backdrop for a stunt show.

Let me know if you have other questions.