Sylvia Chang plays a director who intends to make a romance film and begins to wonder about the role fate plays in relationships. She ends up re-examining her own first love in a completely different light. The story is set in two different periods of time, one in the 1970s where Gigi plays the teenage Xiao-rou, and the other in the 1990s where Sylvia plays the older Xiao-rou.

Takeshi Kaneshiro plays the role of a shy teenager, Ho-jun, who falls in love with Xiao-rou (played by Gigi Leung). Their relationship turns intimate but faces fierce objections from their parents. Karen Mok plays Chen-li, Xiao-rou's best friend, whom Xiao-rou confides in.

This teenage love soon fizzles out owing to misunderstandings and Ho-jun, after many years, turns to marry Chen-li. One day, Chen-li reveals that she is a lesbian and that they both love the same girl - Xiao-rou.

Ho-jun meets Xiao-rou on a trip to Japan and upon knowing that Ho-jun is already married, Xiao-rou returns home and gets herself engaged. Ho-jun manages a last attempt to reunite with Xiao-rou by flying to Hong Kong and telling her that he is already a divorcee, but it is to no avail.

Years later, Xiao-rou finds out that Ho-jun's wife was actually Chen-li. She discovers this only after Chen-li has died. Chen-li leaves a message for Xiao-rou asking her for forgiveness. As Xiao rou prepares to fly back to Hong Kong from Japan, she receives a present from Ho-jun. In the box were photographs, taken when Ho-jun was thinking about Xiao-rou and of their brief moments of happiness.

It is only at the end of the film when it is tactfully revealed that the director Sylvia Chang was actually re-enacting her own teenage romance.