The year is 1917 and Chen Zhen, believed to be dead, returns to Shanghai under a false name. He joins a mob boss for info on the Japanese incl. a long kill list and at night fights the Japanese masked.

Seven years after the apparent death of Chen Zhen, who was shot after discovering who was responsible for his teacher's death (Huo Yuanjia) in Japanese-occupied Shanghai. A mysterious stranger arrives from overseas and befriends a local mafia boss. That man is a disguised Chen Zhen, who intends to infiltrate the mob when they form an alliance with the Japanese. Disguising himself as a caped fighter by night, Chen intends to take out everyone involved as well as get his hands on an assassination list prepared by the Japanese.—Kokken Tor