The story opens with a meticulously planned robbery of the "Harman Development Bank" (哈曼发展银行). Tan Li (Shi Yanneng), a ruthless bandit leader, orchestrates the heist with his crew members Han Qiliang and A Mu during a torrential downpour. The robbery quickly turns violent—they shoot and kill a patrol officer named Bowen, triggering an immediate police response.

In 1950s Hong Kong, British merchants and Chinese triads have joined forces to expand their territory, forcibly demolishing factories without regard for public welfare. This move draws fierce opposition from Ip Man, standing up for the workers, he faces pressure from all sides. Framed for murder, he is sent to prison. Within the prison walls, the triads set multiple deadly traps. Can Ip Man overcome these trials, escape the danger, and clear his name?