This was a compelling film.
The story of a high school sociology experiment run out of control, this movie had several strengths. First, the cast is superb. The teacher, played by Jurgen Vogel, has the kind of charisma that high school students respond to. Frederick Lau perfectly captures the plight of the student who invests everything in "the Wave" and can't handle it ending. All of the students are superb.
The movie gives everyone a motive and presents the subplots clearly. We see the problems the teacher has and his rivalry with his fellow teachers. The students have their dramas as well. Some embrace "the Wave" to change their status. Others reject it because they don't want things to change.
Some facets of the movie are inescapable bits of business one finds in movies about high school. However, "The Wave" manages to incorporate them in a natural way.
Really interesting and intense. Highly recommended.