The film tells the story of the competition and disputes between the foreign land and gang forces in Shanghai in the early 20th century. In the chaotic world, the legendary love and hatred between the extraordinary woman Xiao Yuegui (played by Yu Nan) and the three generations of Shanghai kings. Xiao Yuegui (played by Li Meng), a country girl who worked as a maid in a brothel, was "tall, big-breasted, and unbound", which made the boss Xin Daiyu (played by Bai Ling) very dissatisfied, but she was deeply loved by the Hongmen boss Chang Lixiong (played by Hu Jun) and became the woman of a generation of Shanghai kings. Chang Lixiong was assassinated during his contact with Huang Peiyu (played by Qin Hao), a representative of the Tongmenghui. Xiao Yuegui was alone and helpless, and she lived in the countryside after giving birth to a daughter. After several years of hardship, Xiao Yuegui established a beach dance team and returned to Shanghai. With the help of Huang Peiyu, the second generation of Shanghai King, she became Xiao Yuegui (played by Yu Nan), a "famous actress in Shenqu". Xiao Yuegui, who has achieved success, has never forgotten to find the murderer who killed Chang Lixiong, the father of her daughter. When she found herself falling in love with Huang Peiyu, she also confirmed the "true identity of the Hongmen traitor". She conspired with Yu Qiyang (played by Feng Shaofeng), a former follower of Mr. Chang, to get rid of the traitor and help Yu Qiyang become the first banker of Hongmen and the new "King of Shanghai".