Set during the gangster era in early 1900s Shanghai, THE LAST TYCOON follows the story of CHENG (played by Chow Yun-Fat), a young man who is betrayed by the police chief (Sammo Hung). Forced to abandon his familiar life and the woman he loves, QIU (Monica Mok), CHENG must start anew. After escaping from prison, he swiftly and ruthlessly climbs the ranks of Shanghai’s criminal underworld, eventually becoming one of the city’s most influential mob leaders. However, his rise to power comes at a cost, as CHENG finds himself caught between the advancing Japanese forces and the manipulative local secret service. The situation becomes even more complicated when he encounters QIU again, now married to a writer. As the era draws to a close, will their love be rekindled?