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Loss in White takes place in the north-east of China, where two victims have been discovered beneath the ice of a frozen lake, their remains having been rendered unidentifiable by carnivorous fish but yet retaining the mark of having been hauled under the ice by an ice hook. Captain Zhou (Tony Leung Ka Fai) is in charge of the inquiry, and he's bringing his teenage daughter Xinyi along with him as well (Zhou Dongyu). After a few days of investigation, he is joined by Wang Hao (Tong Dawei), a young Shanghai investigator who is working on a missing person case that has brought him to the same area where the killings took place. In fact, the two cases appear to be linked: the missing person and the two victims were all members of a group of businessmen who established a refinery in the region ten years ago, and who disposed of chemical waste in an unethical manner, poisoning the water and causing malformed babies in the following decade. The missing businessman might either be the murderer, the next victim, or a false herring, depending on your perspective.