Sung Tse-Ho is a senior member of a powerful Hong Kongtriad, managing a lucrative printing and distributing operation that produces counterfeit American bank notes. Ho is a respected member of the organization, entrusted with the most important transactions. Mark Lee[8]is his best friend, bodyguard, and business partner. The prologue follows a day in the life of Ho and Mark as they watch a fresh batch of counterfeit notes being printed and meet with foreign clients to trade their product for counterfeitHong Kong dollarnotes.
Meanwhile, Ho's younger brother, Kit, has just graduated high school and is currently training to join the police. Ho hides his criminal life from his brother and encourages Kit's career choice, while their ailing father pleads for Ho to leave his life of crime. Ho agrees, deciding that he will retire from the triad after his next deal inTaiwan. Shing, a low-ranking triad member, joins Ho after he agrees to mentor him. However, they are ambushed by the Taiwanese triads, leading to a shootout in which Ho and Shing flee into a sewage tunnel entrance, pursued by local law enforcement. Ho tells Shing to run and surrenders to the police in order to buy time for him to escape, leading to a three-year prison sentence.
After learning of the deal, the triads attempt to kidnap Ho's father as leverage to ensure Ho's silence in prison; Ho's father is fatally stabbed before Kit and his girlfriend Jackie manage to subdue the attacker. With his dying breath, he pleads Kit to forgive his brother for his criminal actions, and an enraged Kit blames Ho for their father's death. Later, Mark travels to Taiwan to get answers from the Taiwanese triad. He visits a restaurant where the gangster who planned the ambush is dining and kills him following a shootout with his bodyguards. However, Mark's leg is injured in the process, leaving him crippled and requiring a leg brace.
After Ho is released from prison, he is approached by a corrupt policeman, who offers to take him back to triad headquarters so he can rejoin his old organization. Ho, determined to start a new life, declines the offer and instead begins working for a taxi company run by another ex-con named Ken. During one of his shifts, Ho encounters Mark, and he discovers that his old friend is now a bitter, broken shell of his former self after Shing stripped him of his position in the triad and cast him aside in his rise to power. When they reunite, Mark urges Ho to confront Shing, but Ho refuses. Ho then seeks out Kit, now a police officer, in hopes of reconciling.
However, Ho is harshly rebuffed by Kit, who still blames Ho for their father's death and because his relation to Ho is preventing him from advancing his career. In an effort to prove himself and further distance himself from his brother, Kit becomes obsessed with bringing down Shing, despite Ho's warnings. Shing, hearing of Ho's return to Hong Kong, tries to persuade him to return and help expand their triad intodrug trafficking, but Ho refuses. Shing then has his men attack the taxi company, severely beat Mark, and lure Kit into a trap that leaves him critically wounded. Though Ho is still hesitant to take action, Mark is eventually able to persuade Ho to retaliate.
Mark steals acomputer tapecontaining printing plate data from the counterfeiting business and they then discover that it was Shing who set up the ambush three years prior. Meanwhile, Shing sets up triad leader Yie and shoots him dead; the witnesses are told to lie to the police that Ho was the killer. Ho and Mark then use the tape to blackmail Shing in exchange for money and an escape boat. Ho ensures that the tape is passed to Kit as proof of Shing's crimes. Using Shing as a hostage, Ho and Mark take the money to a pier, where Shing's men await. There, Ho implores Mark to escape by himself in the boat, and Mark hesitantly agrees.
After Mark's departure, Kit arrives on the scene intending to arrest Shing, but ends up being taken hostage. A deal is made to exchange Shing for Kit, but the negotiation spirals into first a standoff and eventually a shootout. Ho and Kit work together against Shing's men, and are overwhelmed. Mark, hearing the sounds of gunfire, quickly returns to the scene. Ho, Kit and Mark kill several of Shing's henchmen, but also suffer injuries in the process. During a lull in the gunfight, Ho attempts to make peace with Kit but is rebuffed again. Mark then reprimands Kit, telling him that Ho's present actions have atoned for the past. As the three are distracted however, Mark is fatally shot in the back by Shing.
As the police approach, Shing mocks Ho and Kit, proclaiming that once he enters police custody, his money and power will ensure his swift release. Kit then hands Ho his gun, allowing him to fatally shoot Shing. As Kit watches Shing's body fall to the ground, Ho suddenly handcuffs himself to Kit. The two brothers then begin walking together towards the gathered crowd of police.