Aiyi is a 20-year-old heiress and the owner of the One Hundred Joys nightclub in 1940s Japanese-occupied Shanghai. Raised in a wealthy, conservative Chinese family, she values her business independence. She wears modern fashion, drinks alcohol with clients, and actively pushes against her family's strict expectations for young women.

Ernest is a 19-year-old Jewish refugee and trained classical pianist who fled Nazi Germany. He arrives in Shanghai penniless with his younger sister. Barred from regular employment, he takes menial jobs to secure food and shelter. He covers a scarred hand with a glove and remains intensely protective of his sibling.

Yamazaki is an officer in the Japanese Imperial Army stationed in Shanghai. He aggressively enforces the military occupation and views his authority as a divine right. He carries a firearm into civilian establishments and uses his position to seize property and threaten both the local Chinese residents and international refugees.

Cheng is Aiyi's cousin and arranged fiancé. He wears meticulous, custom-tailored suits and possesses a volatile temper. He expects Aiyi to dress conservatively and obey his directives. Though he views himself as her primary protector, his aggressive adherence to patriarchal norms often places him at odds with her independent nature.

Sir Victor Sassoon is a British millionaire and powerful businessman operating out of a luxury hotel in the International Settlement. He commands deference from locals and occupiers alike. He drinks heavily, pursues amateur photography, and leverages his vast wealth to orchestrate transactions that secure his own assets.

Miriam is Ernest's 12-year-old sister who recently arrived in Shanghai. Traumatized by the violence she witnessed in Germany, she lives in a crowded refugee building. She sneaks out to explore the city despite the danger, frequently clashing with her brother over his strict rules regarding her movements.

Ying is Aiyi's younger brother. He regularly borrows money from his sister and presents an outwardly reckless demeanor. Secretly, he harbors strong political affiliations and purchases illegal weapons to resist the Japanese occupation.

Emily is an American journalist living in the French Concession of Shanghai. She openly changes clothes in front of others and sustains a cross-cultural affair, openly disregarding conservative Chinese social customs. She smokes opium and faces social ostracization from the international community due to her relationship.

Sinmay is Aiyi's oldest brother and the patriarchal head of the Shao family. A poet and former publisher, he demands absolute submissiveness from his siblings. He strictly enforces traditional family values and arranges marriages for his relatives, despite conducting his own scandalous cross-cultural affair.

Golda is a red-haired Jewish actress who fled to Shanghai as a refugee. She works at a local bakery and aggressively pursues basic security in a dangerous city. She straightforwardly communicates her desires and actively searches for a husband to improve her living conditions.

Scarlet is an American documentarian who recently curated an exhibition about Jewish refugees in Shanghai. Invited to China by Aiyi in 1980, she arrives eager to record the history of the 1940s. She continuously questions the elderly billionaire's motivations for offering her a highly lucrative hotel property.

Peiyu is Sinmay's wife and Aiyi's sister-in-law. She firmly believes in traditional roles for women, prioritizing marriage and childbearing over independence. She frequently criticizes Aiyi's modern choices and strictly obeys her husband's directives.

Little Star is Peiyu's youngest daughter and Aiyi's niece. As a young girl in a war-torn society, she faces extreme vulnerability. She relies entirely on the adults around her for food and shelter after her mother departs for the countryside.

Mr. Schmidt is an older Jewish refugee living in the Embankment Building. He actively seeks out other musicians in the refugee center and eventually finds work at a local bakery, attempting to maintain a sense of community amid extreme poverty.

Laura Margolis is an American representative for the Jewish Distribution Center in Shanghai. She controls the distribution of funds, food, and medicine to thousands of refugees. She refuses to evacuate the city even as the military conflict threatens her personal safety.

Mr. Blackstone is an American living in the International Settlement who takes Miriam in as a host student. He provides her with housing, food, and education, representing the insulated lifestyle of Western expatriates before the full-scale invasion.

Jyo is a Sikh policeman working in the International Settlement. He initially attempts to arrest Ernest following an altercation, but later shares cigarettes and quiet conversation with the pianist, reflecting the shifting daily allegiances on the streets of Shanghai.

Phoenix is Aiyi's attorney and niece. She manages her aunt's legal affairs in 1980 and formally escorts the American documentarian to their meeting at the Peace Hotel.