The epic story Mei Lanfang, who overcame the prejudice against artists in 1930s China to become the country's greatest opera star.

Middle aged businesswoman Xie Chunhua is well-off but still leads a celibate life. In her plastic flower factory, she notices two young men: they have similar appearance, one plays flutes, and the other writes poems, entirely different from the rest of workers in the factory.

Abandoned by his prostitute mother in 1920, Douzi was raised by a theater troupe. There he meets Shitou and over the following years the two develop an act entitled "Farewell My Concubine" that brings them fame and fortune. When Shitou marries Juxian, Douzi becomes jealous, the beginnings of the acting duo's explosive breakup and tragic fall take root.