A new arrival in British-occupied Hong Kong, Ip Man wants to open a martial arts academy to teach his unique Wing Chun style. But a corrupt cabal of martial arts masters, led by Master Hung refuses to allow him to teach in peace until he proves himself in a series of fights against the local master, which Ip does, in style. But even after earning the respect of the local masters, Ip's troubles are far from over.

When the British government is discovered smuggling precious Chinese artifacts out of the country, folklore hero Wong Fei Hung uses his uniquely outlandish style of martial arts to fight the conspirators and salvage the valuables.