The film opens with a ski chalet party sequence in Gstaad where Hubert Bonisseur de La Bath aka OSS 117 is entertaining a Chinese countess. The party is attacked by People's Republic of China gunmen working for a Mr. Lee and everyone but Hubert and the Countess are killed, with Hubert comically killing some of his own guests by accident. Returning to SDECE headquarters, Hubert is assigned to deliver a blackmail payment of 50,000 new Francs to Professor Von Zimmel, a Nazi who escaped to South America and has a microfilm list of French Nazism sympathizers.