Very big spoilers below!
Actually, just wanted to correct some things. Fan Ruo Ruo didn't kill the Emperor, she wounded him. The sniper took out one of his arm and he took her as a hostage during the exchange. However, due to whatever reason, maybe curiosity or at death's door; he wanted to see what was under the black cloth in Wu Zhu's eyes. So he made an attempt to attack Wu Zhu. Once the cloth fell, a pair of beautiful rainbow light blasted out. Which is the pew pew laser from Wu Zhu. It pierced through the Emperor's body and set the distant building on ablaze, since it's so powerful. Emperor was probably the strongest out of all grandmaster.
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vesca:
so what will happen after the death of emperor?
The third prince took the throne as the new Emperor. People still wanted Fan Xian to pay the crime of assassinating the old Emperor. But none got the gall to actually put that into action. Fan Xian was just too powerful at the end, he has networks of spies and shadow masters working for him. He is the most powerful person in the shadow/underground. He retired with family outside of the capital city, I believe it was the courtyard/house his mother used to resides in. The new Emperor paid him a visit, he's still very much scared of Fan Xian lol. Their relationship develops as student/master throughout the story, and he actually witness what Fan Xian is capable of, many times. Anyhow, Fan Xian told the Emperor that: "who ever wants my property or my life, tell them to come take it, they know where to find me", and all the Emperor could do was "hah...yes..master". Lol
Keep in mind that this is what happened in the novel. The drama adaptation might be different. I liked the 1st season, will watch season2 when there's more episodes. Story will get much crazier here on out.