Set in 1930s China, the film details the trials of a group of athletes who desire to compete in the Olympic Games. There’s a snag, however. The full amount required to send them abroad for the games is 600,000 dollars, and the government is only sponsoring half. It falls to the athletes to raise the rest themselves, and they start by saving every last penny they earn. They also attempt to raise the money through a variety of fund-raising activities, including street performances, networking for donations, and probably a bake sale, too. After deciding to fund their own way to the games, the athletes take to the streets to perform all manner of athletic demonstrations and martial arts moves in an energetic and impromptu street fair.

Ip Cheung and her husband, a senior police inspector, had been happily married for 18 years. One day, Ip runs into her neighbour, a Taiwanese woman. As they are talking, three men suddenly appeared and tried to kill them. The Taiwanese woman is killed but Ip and the kid, Yen, managed to escape. At the same time, Ip's husband commits suicide. His superior suspected him of corruption. Ip finds out that the Taiwanese woman was her husband's mistress and Yen, his illegitimate son. Ip is given custody of Yen but they are unable to get along. However she will save his live when the gang go after him.

A poor scholar named Lo Chih-Chiu, played by Anthony Wong Yiu-Ming, rescues a swallow from three mischievous boys, and frees the bird afterward. The bird then magically takes the form of a beautiful lady named Hsiao-Hseuh, played by Cherie Chung, who falls in love with the scholar because he had saved her life. She returns the deed by rescuing him from a ruthless band of warlords. She and her sister, Hsiao-Shang, are both originally swallows, but can change into human forms due to witchcraft and wizardry. Hsiao-Hseuh later confronts Chih-Chiu, and later reveals she is a servant of an evil witch queen, who feeds on human blood. When the witch discovers their friendship and bond, she was on the verge of destroying him, but Hsiao-Hseuh pleads for his life in exchange for their separation. After being back in the custody of the witch queen, Hsiao-Hseuh sneaks out and reunites with Chih-Chiu, but posing as a different person to hide her identity.