In this film inspired by a true story, Wing Chun martial arts master Ip Man (Donnie Yen) and his family are moving from Foshan, China, to Hong Kong, where Ip aspires to create a school so that he may teach his fighting techniques to a new generation. However, he finds resistance from an asthmatic Hung Ga master named Hong Zhen Nan (Sammo Hung). Soon, Ip is drawn into a treacherous world of corruption as well as a fateful showdown with a merciless boxer known as the Twister (Darren Shahlavi).
