Russian agents searching for something underwater find a crate as Hong Kong police close in. They accidentally open the crate and baby dolls float to the surface before being detonated. Some Russian agents and a Hong Kong detective pursuing them survive.
Downtown, Tommy Hendricks is arranging a fashion show for “V-Six” Jeans. His business partner, Marcus Ray shows up late after inspecting a warehouse of their goods where he sees several knock-offs, including the exploding dolls, peddled by a Hong Kong gangster, Skinny. Marcus and Tommy then participate in an annual rickshaw race during which Marcus’ adopted brother and friend Eddie cheats to win by switching with a body double.
The body double gets kidnapped by Russian agents (looking for Eddie) and Marcus gives chase. Ultimately, the agents kill the fake Eddie; Tommy accidentally throws a can of food at a plainclothes Hong Kong police officer. The police arrest Marcus and Tommy, but release them without charges.
Back at their office, an executive from V-Six, Karen Lee claims a shipment of jeans was counterfeit and Marcus and Tommy are responsible for over $5 million of losses. She agrees to let it go if they go to the warehouse that switched the fake jeans and identify who did it.
That night, before they arrive at the warehouse, a truck bursts out. Marcus gets on top of it and when it ultimately crashes they find it full of tiny discs. Tommy’s boss, Harry Johansson determines they are powerful “nanobombs” at their base inside a Buddha statue. Believing Eddie to be in on it, they go to see him. Eddie fingers Skinny as the counterfeiter; he found out they had bombs in the merchandise and tried to have it dumped in the ocean before the Russians found them.
Marcus kidnaps Skinny at his workplace and takes him back to the CIA base in the Buddha. There, the security footage reveals Karen was in the warehouse just before they were. At the office, she handcuffs Tommy and prepares to question him. After Marcus leaves, the Buddha explodes, and Marcus races to the office to save Tommy. After a fight, she reveals she’s CIA as well, and the three team up.
While Marcus changes, the Russians kidnap Karen and Tommy, and Marcus finds a bomb detector in Karen’s things. He realizes the jean studs are the nanobombs and checks the computer for the shipping manifest. He and the Hong Kong detective race to the cargo ship where Karen and Tommy are being held.
Harry boards the ship and shoots dead a couple of Russian agents. Tommy is relieved to see Harry on board, but Harry reveals he is a double agent intending to ransom companies for not detonating the nanobombs they have been secretly planting in manufactured goods all over the world. Marcus and the detective board the ship and fight through the remaining Russians, eventually escaping just before Harry detonates it. Karen plants a handful of nanobombs on Harry’s boat as well, which explodes. They find the detonator in the water and take it.
Two hours later, Tommy and Marcus talk in a bar. Tommy still has the detonator. In a distant room, Harry, still alive, is planting nanobombs on a toy. Tommy carelessly activates the detonator, destroying the building Harry is in, in the distance.
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