Shang-Chi and the Legend of the Ten Rings

Wenwu trained Shang-Chi from age seven as an assassin. At fourteen he was sent to kill the man who murdered his mother. He did it — and then didn't go home. He fled to San Francisco, took the name Shaun, and spent ten years working as a hotel valet with his friend Katy, telling nobody anything. That's the flight this film opens on.

His father Wenwu drags him and his sister Xialing back, convinced their mother is alive and imprisoned in the hidden realm of Ta Lo. He's being deceived by a soul-eating entity called the Dweller-in-Darkness, which has been mimicking her voice.

How Wenwu dies, and how the rings pass over. He attacks Ta Lo and releases the Dweller. It attacks him and eats his soul while he's mid-fight with his son. In his last moment he passes the ten rings directly to Shang-Chi, who then uses them — plus his mother's Ta Lo techniques and the Great Protector dragon — to kill the Dweller.

Xialing takes over running the Ten Rings organisation itself.

The rings begin transmitting a signal to somewhere unknown.

The mid-credits scene has Wong, Bruce Banner, and Carol Danvers examining them — establishing that Shang-Chi is now on the Avengers' radar.

The signal's destination has never been resolved.