Shih Hsin-chiao (Ling Yun) is a journalist who trained under mentor Lu Tao-jan (Chin Han). Lu's daughter, Chih-pai (Tien Niu) is infatuated with the good-looking and intelligent Shih, but Shih sees her only as a child. When he returns from a long stay abroad, he finds that things have changed. Chih-pai is now an attractive young woman in a relationship with rich boy (Wang Yu). A miscarriage and Lu's death throw Shih and Chih-pai back together again.

Following the lives of three downtrodden but resilient outcasts, John Lo Mar's gritty social drama paints a sense of realism rarely seen in Hon Kong movies. Li Ching - the best actress of her era - play Ah Chiao is a girl from a rural village stranded in the city, who befriends a kind-hearted transient and a retired actor. They are poor, but they are happy. Although her fortune changes for the better when she becomes a singer, she ultimately learns money can't buy happiness.

A vainglorious scholar rejects a matchmaking proposal to a daughter of a noble only to have his nights tempted by the lure of a mysterious beauty but their nocturnal encounters begin to prove strange as things aren't what they appear to be.