The third filmization of the Chinese version of Phantom of the Opera, this Hong Kong operatic melodrama is set in the fatastical burned-out husk of a once glorious opera house located near 1937 Beijing. The tale begins as a homeless theater troupe arrives there and listens to the caretaker describe the theater's demise. It happened a decade ago when the enemies of former famous actor Song Danping, who built the place, torched it for revenge after his affair with the already betrothed Yunyan was discovered. Unfortunately, Song was in the theater at the time and his body was never found. The troupe makes the theater their new home and as they rehearse, actress Wei Quing makes the acquaintance of a ghostly figure who turns out to be Song. He shares with her his plan for vengeance. Those plans involve a brilliant restaging of Romeo and Juliet designed to help him bring back his beloved Yunyan and restore the sanity she lost after he was murdered.
~ Sandra Brennan, All Movie Guide