Country & Year: (Hong Kong 2001) (Many thanks to ZoneDaiatlas)
A team of scientists conducting a biological study in the underground sewage system discovers a group of alien-looking eggs that they subsequently destroy.
However, unknown to them, one of the eggs had hatched and escaped. It is a snake-like creature that can adapt quickly to human society, and it soon adopts human form. As a beautiful woman, the snake creature seeks food, and a way to fertilize her eggs.