The master of the respectable and honored Iron Flag Clan (a clan that uses spears with flags as weapons) is murdered by the mysterious Spearman, an assassin hired by the elder brother of the clan Chow Feng (Iron Tiger). Brother Lo (Iron Panther) takes the heat when the authorities arrive to make an arrest and agrees to go away for a while. Chow Feng offers to send him money, however money never arrives, only killers constantly trying to take Brother Lo’s life. The Spearman arrives again, only this time to save Brother Lo from being murdered. Spearman admits to Lo that he killed his Chief but he was tricked into doing so by Chow Feng so that Chow Feng could take over not only the Iron Flag Clan but their rivals the Eagles. Lo and his brother Iron Monkey team up with the Spearman to go after Chow Feng and take revenge for their murdered chief.