Siu Sup Yut Long (Felix Wong) is a thief who robs the rich and gives to the poor, therefore making him a scapegoat where all crimes and bad deeds are placed on his head. He is burdened with the secret of location of Chor Lau Heung's hidden treasure since a child.
In order to test whether Siu Sup Yut Long really held this secret, Siu Yiew Hau/Count Carefree (Hugo Ng) has his hooligans, Little Master and a gang of martial artists under his control, spread a rumor that the Deer Carving Saber contains the secret to Chor Lau Heung's treasure. Siu falls for the bait and does try to get the saber to find out the validity of this rumor--which confirms Count Carefree's guess. Count Carefree then plans a series of ploys to get Siu Sup Yut Long to reveal this secret.