The story takes place between Christmas Eve and Chinese New Year but there's little to be festive about in this film.

Schoolgirl Xiangying (Tsi Lo-Lin) goes to live with best friend and schoolmate Daini/Dol-Lei (Mui Yee). Daini lives in a enormous house with her two younger sisters. Daini, however, doesn't let Xiangying participate in the nightly parties downstairs, instead, telling her to concentrate on her studies. The mother Fan Tai (Lai Cheuk-Cheuk) is sympathetic and encourages Xiangying to join in the gatherings, going so far as to give her a party dress, shoes, etc on Christmas Eve to wear at the evening's party. Xiangying becomes the main attraction of the party and meets her Prince Charming, Johnny Tan (Cheung Ying) but she must return to her bedroom before Daini returns home and discovers her.

As the story unfolds, we slowly discover the secrets of the Fan household and a grim one it is. By film's end, the casualty count has mounted and almost no one escapes unscathed. Happy New Year!

Ng Chor-Fan plays an engineer trainee, Liqun, who befriends Xiangying and rescues her from a rape attempt. His working class noble roots contrasts against those of the Richie Rich swells like Banker Xue and his ilk.

The film has an aura of underlying mystery and successfully manipulates the viewer into siding against Daini and rooting for Xiangying and Fan Tai. And even though Johnny Tan's moustache should have been a give away, we fall for his charm, his dastardliness not being apparent until late in the game.