A member of the Red Peony troupe, singer Tang Pei Hua (Yeh Feng) is renowned for her beautiful voice and appearances. Her beauty, however, invites the unwanted attentions of cruel and lecherous warlord Cao Lin (Zeng Mei). In order to escape Cao's grasp, Tang and her lover Lin Ke Qiang (Chin Han) decide to run away to the south where they can live freely. But their plan is uncovered by Cao, and Lin gets captured. In order to save Lin, Tang must sacrifice herself and entertain Japanese guests at a banquet, throwing herself into danger's way.

发生在民国的初年，军阀曹霖(井淼饰)割据华北施行暴政。有志之士组织地下革命党，推行推翻暴政的工作。着名歌舞女伶唐佩华(叶枫饰)的艺名是红牡丹，她在红牡丹剧团色艺双全，深受欢迎。残暴好色之曹霖垂涎唐佩华已久，唐佩华畏其势。某一日唐佩华的爱人林克强(金汉饰)计议离开此城，同返南方故乡过自由的生活。不料却被曹霖识破。唐佩华被邀饮宴以讨好日本贵宾，却不知自己已身陷虎穴之中，这齣由邵氏武侠片大导演何梦华于1964年拍摄，张彻编剧，由叶枫、蓝娣、金汉、雷鸣、田丰和井淼主演。由1954年从影，叶枫先後在永华、电懋和邵氏等公司主演影片，代表作有《四千金》、《长腿姐姐》、《星星??月亮??太阳》、《山歌恋》和《血溅牡丹红》等。女主角叶枫的角色为歌舞女郎，为了救所爱金汉与蓝娣而亲近大帅的当众表演令观众看得扣人心弦，其中的花鼓歌由当时幕後代唱歌手静婷所唱。《血溅牡丹红》更荣获1965年金马奖优等剧情片。