A young Yeti escapes from a compound in Shanghai owned by wealthy businessman Mr. Burnish (Eddie Izzard), who intends to use him to prove the existence of yetis to the world. Meanwhile, teenager Yi (Chloe Bennet) lives with her mother (Michelle Wong) and Nai Nai (Tsai Chin) in an apartment building. She lives a busy life and neglects to spend time with her family and her friends, basketball fan Peng (Albert Tsai) and his tech-savvy and popular cousin Jin (Tenzing Norgay Trainor). Yi is also a violinist who misses her late father, who was also a violinist.
One evening, Yi encounters the Yeti near her cubby house on the roof of her Shanghai apartment building, which she names “Everest.” While hiding him from Burnish Industries’ helicopters, Yi gains his trust by feeding him Baozi and treating his wounds. Yi learns that Everest wants to reunite with his family on Mount Everest while Everest learns about Yi’s desire to travel across China. When Burnish Industries’ private security forces closes in on Everest’ hiding place, Everest flees with Yi. After narrowly escaping a Burnish helicopter at the Oriental Pearl Tower, Yi and Everest flee on a ship carrying red cola cans, followed by Peng and a reluctant Jin.