There are fierce battles and murders on the beach of Shanghai. After experiencing the failed student movement, college student Xu Wenqiang (played by Chow Yun-fat) came to Shanghai alone. He became close friends with hawker Ding Li (played by Ray Lui), and with the help of his classmate Fang Yanyun, he mixed into the gang and became the gang leader with his courage. Feng Jingyao, a tycoon in the French Concession in Shanghai, took a fancy to Xu Wenqiang's talent and wanted to recruit him, but Wenqiang declined. Xu Wenqiang accidentally saved Feng Jingyao's daughter Feng Chengcheng (played by Zhao Yazhi) and won her love. In a gang dispute, Xu Wenqiang and Ding Li were desperate and took refuge with Feng Jingyao. Chengcheng chased Wenqiang and finally moved him. The two planned to get married. At this time, Xu Wenqiang discovered that Feng Jingyao colluded with the Japanese to sell out his country. After thinking for a while, he chose to betray Feng Jingyao and kill the Japanese. In order to avoid Feng Jingyao's pursuit, Xu Wenqiang fled to Hong Kong, met Cheng Shu's family, and decided to live a peaceful life. Cheng Cheng chased to Hong Kong, attracted Feng Jingyao's minions, and Cheng Shu's family was killed. Xu Wenqiang returned to Shanghai and began his revenge plan. Cheng Cheng asked Wenqiang to leave and run away with her, but was rejected. Disappointed, she married Ding Li, who was infatuated with her. After Xu Wenqiang successfully took revenge with the help of Ding Li, he decided to find Cheng Cheng who had fled to France, but was buried in the hail of bullets by the Japanese.