Document:

Exhibit 10.2

                               OPERATING AGREEMENT

This Operating  Agreement  (this  "Agreement") is dated November 1, 2005, and is
entered into in Zhejiang,  China between  Capital  Future  Development  Limited,
incorporated  under law of British Virgin Islands ("Party A"), Zhejiang Yong Xin
Digital Technology Co., Ltd., duly established under law of People's Republic of
China,  with a  registered  address at No. 315 Hu Shu Nan Rd, Gong Ye  District,
Hangzhou,  China("Party B"), , and shareholders  holding 100% outstanding shares
of Party B (the  "Shareholders  of Party B" or "Party C").  Party A and Party B,
and  Shareholders  of Party B are referred to  collectively in this Agreement as
the "Parties."

                                    RECITALS

1.   Party A, a company duly incorporated under law of British Islands,  has the
     expertise in the business of digital products;

2.   Party B is a limited company  incorporated in China,  and is engaged in the
     selling,  circulation  and modern  logistics of 3C products  (communication
     products,  information  technology ("IT") products and digital products) in
     China (the "Business");

3.   The undersigned  Shareholders of Party B collectively  own over 100% of the
     equity interests of Party B;

4.   Party A has  established a business  relationship  with Party B by entering
     into the "Consulting  Services Agreement"  (hereinafter  referred to as the
     "Services Agreement");

5.   Pursuant  to the  above-mentioned  agreement  between  Party A and Party B,
     Party B shall  pay a  certain  amount  of money to  Party A.  However,  the
     relevant  payable  account has not been paid yet and the daily operation of
     Party B will have a material  effect on its  capacity  to pay such  payable
     account to Party A;

6.   The  Parties  are  entering  into this  Agreement  to  clarify  matters  in
     connection with Party B's operations.

NOW  THEREFORE,  all parties of this Agreement  hereby agree as follows  through
mutual negotiations:

1.   [Party A agrees,  subject to the satisfaction of the relevant provisions by
     Party B herein,  as the guarantor for Party B in the contracts,  agreements
     or transactions in connection with Party B's operation  between Party B and
     any other third party,  to provide full  guarantee for the  performance  of
     such contracts,  agreements or transactions by Party B. Party B agrees,  as
     the  counter-guarantee,  to pledge all of its  assets,  including  accounts
<PAGE>
     receivable,  to Party A. According to the aforesaid guarantee  arrangement,
     Party A wishes to enter into  written  guarantee  contracts  with Party B's
     counter-parties  thereof to assume the guarantee liability as the guarantor
     when it  needs;  therefore,  Party B and Party C shall  take all  necessary
     actions  (including  but not  limited to  execute  relevant  documents  and
     transact   relevant   registrations)   to  carry  out  the  arrangement  of
     counter-guarantee to Party A.]

2.   In  consideration  of the  requirement of Article 1 herein and assuring the
     performance of the various operation agreements between Party A and Party B
     and the  payment of the  payables  accounts  by Party B to Party A, Party B
     together with its  shareholders  Party C hereby  jointly agree that Party B
     shall not conduct any transaction which may materially  affects its assets,
     obligations,  rights or the  operations of Party B (excluding  the business
     contracts,  agreements,  sell or purchase  assets  during Party B's regular
     operation  and the lien  obtained by relevant  counter  parties due to such
     agreements)  unless the obtainment of a prior written consent from Party A,
     including but not limited to the following:

     2.1  To borrow money from any third party or assume any debt;

     2.2  To sell to or  acquire  from any  third  party  any  asset  or  right,
          including but not limited to any 2 intellectual property right;

     2.3  To provide any  guarantees  to any third  parties  using its assets or
          intellectual property rights;

     2.4  To assign to any third party its business agreements.

3.   In order to ensure the  performance  of the  various  operation  agreements
     between  Party A and Party B and the  payment of the  various  payables  by
     Party B to Party A, Party B together with its  shareholders  Party C hereby
     jointly  agree to accept,  from time to time,  advice  regarding  corporate
     policy  advise  provided  by Party A in  connection  with  company's  daily
     operations,  financial  management  and the employment and dismissal of the
     company's employees.

4.   Party B together with its  shareholders  Party C hereby  jointly agree that
     Party C shall appoint the person recommended by Party A as the directors of
     Party B, and Party B shall appoint  Party A's senior  managers as Party B's
     General Manager, Chief Financial Officer, and other senior officers. If any
     of the above senior  officers  leaves or is dismissed by Party A, he or she
     will lose the  qualification  to take any  position  in Party B and Party B
     shall  appoint other senior  officers of Party A recommended  by Party A to
     take such position.  The person  recommended by Party A in accordance  with
     this  Article   herein   should   comply  with  the   stipulation   on  the
     qualifications of directors,  General Manager, Chief Financial Officer, and
     other senior officers pursuant to applicable law.

5.   Party B together  with its  shareholders  Party C hereby  jointly agree and
     confirm  that  Party B shall  seek the  guarantee  from Party A first if it

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<PAGE>
     needs any  guarantee  for its  performance  of any contract or loan of flow
     capital in the course of  operation.  In such case,  Party A shall have the
     right but not the obligation to provide the appropriate  guarantee to Party
     B on its own discretion.  If Party A decides not to provide such guarantee,
     Party A shall  issue a written  notice to Party B  immediately  and Party B
     shall seek a guarantee from other third party.

6.   In the  event  that  any of the  agreements  between  Party  A and  Party B
     terminates or expires,  Party A shall have the right but not the obligation
     to terminate all  agreements  between Party A and Party B including but not
     limited to the Services Agreement.

7.   Any amendment and  supplement of this  Agreement  shall be made in writing.
     The amendment and  supplement  duly executed by all parties shall be deemed
     as a part of this  Agreement  and shall have the same legal  effect as this
     Agreement.

8.   If any clause hereof is judged as invalid or  non-enforceable  according to
     relevant  laws,  such  clause  shall be  deemed  invalid  only  within  the
     applicable  area of the Laws and without  affecting other clauses hereof in
     any way.

9.   Party B shall not assign its rights and obligations under this Agreement to
     any third  party  without  the prior  written  consent  of Party A. Party B
     hereby agrees that Party A may assign its rights and obligations under this
     Agreement as it needs and such transfer  shall only be subject to a written
     notice sent to Party B by Party A, and no any further  consent from Party B
     will be required.

10.  All  parties  acknowledge  and confirm  that any oral or written  materials
     communicated  pursuant to this Agreement are  confidential  documents.  All
     parties  shall keep secret of all such  documents and not disclose any such
     documents  to any third party  without  prior  written  consent  from other
     parties unless under the following conditions: (a) such documents are known
     or shall be known by the public  (excluding the receiving  party  discloses
     such  documents to the public  without  authorization);  (b) any  documents
     disclosed in accordance  with  applicable  laws or rules or  regulations of
     stock exchange;  (c) any documents required to be disclosed by any party to
     its  legal  counsel  or  financial   consultant  for  the  purpose  of  the
     transaction  of this  Agreement  by any party,  and such  legal  counsel or
     financial  consultant shall also comply with the  confidentiality as stated
     hereof. Any disclosure by employees or agencies employed by any party shall
     be deemed the  disclosure  of such party and such  party  shall  assume the
     liabilities  for its breach of contract  pursuant to this  Agreement.  This
     Article shall survive whatever this Agreement is void, amended,  cancelled,
     terminated or unable to perform.

11.  This  Agreement  shall be governed by and construed in accordance  with PRC
     law.

12.  The  parties   shall  strive  to  settle  any  dispute   arising  from  the
     interpretation   or  performance  of  this   Agreement   through   friendly
     consultation.  In case no settlement can be reached  through  consultation,
     each party can submit such matter to China International Economic and Trade
     Arbitration  Commission  ("CIETAC") for  arbitration in accordance with its

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<PAGE>
     rules of CIETAC.  The arbitration  proceedings  shall take place in Beijing
     and shall be conducted in Chinese. Any resulting arbitration award shall be
     final and conclusive and binding upon all the parties.

13.  This Agreement  shall be executed by a duly  authorized  representative  of
     each  party  as of the  date  first  written  above  and  become  effective
     simultaneously.

14.  Notwithstanding  Article 13 hereof, the parties confirm that this Agreement
     shall  constitute  the entire  agreement of the Parties with respect to the
     subject   matters   therein  and  supersedes  and  replaces  all  prior  or
     contemporaneous verbal and written agreements and understandings.

15.  The term of this  agreement  is ten (10)  years  unless  early  termination
     occurs  in  accordance  with  relevant  provisions  herein  or in any other
     relevant agreements reached by all parties.  This Agreement may be extended
     only upon Party A's written  confirmation  prior to the  expiration of this
     Agreement and the extended  term shall be determined by the Parties  hereto
     through mutual consultation. During the aforesaid term, if Party A or Party
     B is  terminated  at  expiration  of  the  operation  term  (including  any
     extension of such term) or by any other  reason,  this  Agreement  shall be
     terminated  upon such  termination  of such  party,  unless  such party has
     already  assigned its rights and  obligations in accordance  with Article 9
     hereof.

16.  This  Agreement  shall be  terminated on the  expiration  date unless it is
     renewed in accordance with the relevant provision herein.  During the valid
     term  of  this  Agreement,  Party B shall  not  terminate  this  Agreement.
     Notwithstanding  the  above  stipulation,  Party A shall  have the right to
     terminate  this  Agreement  at any time by issuing a thirty (30) days prior
     written notice to Party B.

17.  This  Agreement  has been  executed  in four  (4)  duplicate  originals  in
     English,  each  Party has  received  one (1)  duplicate  original,  and all
     originals shall be equally valid.

                            [SIGNATURE PAGE FOLLOWS]

                                       4
<PAGE>
                                                 [Signature Page]

IN WITNESS  WHEREOF each party hereto has caused this Agreement duly executed by
itself or a duly  authorized  representative  on its behalf as of the date first
written above.

PARTY A:   Capital Future Development Limited
           Capital Future Development Limited

           Legal/Authorized Representative: /s/
                                           ----------------------------
           Name:
                -------------------------------------------------------
           Title:
                 ------------------------------------------------------

PARTY B:   Zhejiang Yong Xin Digital Technology Co., Ltd.

           Legal/Authorized Representative: /s/
                                           ----------------------------
           Name:
                -------------------------------------------------------
           Title:
                 ------------------------------------------------------

                                       5
<PAGE>
                   SIGNATURE PAGE FOR SHAREHOLDERS OF PARTY B

SHAREHOLDERS OF PARTY B:

               /s/ WANG Zhenggang
               ---------------------------------
           By: WANG Zhenggang;
           (PRC ID Card No.: 330725196811015038);
           Shares of. Zhejiang Yong Xin Digital Technology Co., Ltd. owned
           by WANG Zhenggang: 35%;
           Home Address: No7, South block 4, Xia Che Men, Yiwu, Zhejiang, China;

               /s/ Zhang Yimin
               ---------------------------------
           By: Zhang Yimin
           (PRC ID Card No.: 420106196706282812)
           Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
           ZHANG Yimin: 20%;
           Home Address: No 13 Block 13 Jinshang Li Ding, Chou Cheng Street,
                         Yiwu, Zhejiang, China

                                       6
<PAGE>

                /s/ LV Huiyi
                ---------------------------------
            By: LV Huiyi
            (PRC ID Card No.: (pound)(0)440111197109154838)
            Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
            ZHANG Yimin: 20%;
            Home Address: Suite 101, No.45, 475 Huang Chen Dong Road, Guangdong,
                          China

                /s/ WANG Xiaochun
                ---------------------------------
            By: WANG Xiaochun
            (PRC ID Card No.: 330723780207004)
            Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
            ZHANG Yimin: 15%;
            Home Address: No. 19, Daming Hall, Wuyang Town, Wuyi District,
                          Zhejiang, China

                                       7
<PAGE>

                /s/ BAO Zhongsheng
                ---------------------------------
            By: BAO Zhongsheng
            (PRC ID Card No.: 330725197805030818)
            Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
            ZHANG Yimin: 10%;
            Home Address: No 13 Block 13 Jinshang Li Ding, Chou Cheng Street,
                          Yiwu, Zhengjiang

                                       8Exhibit 10.3

                                 PROXY AGREEMENT

This  Shareholders'  Voting Rights Proxy Agreement (the  "Agreement") is entered
into as of November 1, 2005, in Zhejiang among the following parties

PARTY A:

              Capital Future Development Limited
              Capital Future Development Limited(1)<<E3/4

              Chairman: WANG Zhenggang

PARTYB:  The undersigned  shareholders  of Zhejiang Yong Xin Digital  Technology
Co., Ltd., a corporation incorporated under the laws of China ("Company").

                                    RECITALS

A.   Party A is a company incorporated under law of British Virgin Island, which
     engages in the business of digital products.

B.   As of the date of the Agreement  Party B are the enrolled  shareholders  of
     Company  and each  legally  holds the equity  interest in Company set forth
     Party  B's name  below.  The  total  shares  held by  Party B  collectively
     represent 100% of total outstanding shares of Company.

C.   Party B desires  to grant to the Board of  Directors  of Party A a proxy to
     vote all of Party B's  shares in  Company  for the  maximum  period of time
     permitted by law in  consideration of the issuance to Party B of shares and
     for other good and valuable consideration.

     NOW THEREFORE, the parties agree as follows:

1.   Party B hereby  agrees to  irrevocably  grant and entrust  Party A, for the
     maximum  period  permitted by law, with all of Party B's voting rights as a
     shareholder  of Company.  Party A shall  exercise such rights in accordance
     with and within the  limitations of the laws of the PRC and the Articles of
     Association of Company.
<PAGE>
2.   Party A may from time to time establish and amend rules to govern how Party
     A shall exercise the powers granted to it by Party B herein, including, but
     not  limited to, the number or  percentage  of  directors  of Party A which
     shall be required  to  authorize  or take any action and to sign  documents
     evidencing the taking of such action, and Party A shall only take action in
     accordance with such rules

3.   All Parties to this Agreement hereby  acknowledge  that,  regardless of any
     change in the equity interests of Company, Party B shall appoint the person
     designated by Party A with the voting rights held by Party B. Party B shall
     not transfer its equity  interests of Company to any  individual or company
     (other than Party A or the individuals or entities  designated by Party A).
     Party B  acknowledges  that it will continue to perform this Agreement even
     if one or more  than one of them no longer  hold the  equity  interests  of
     Company.

4.   This Agreement has been duly executed by the Parties, and, in the case of a
     Party  which is not a  natural  person,  has been  duly  authorized  by all
     necessary  corporate  or  other  action  by such  Party  and  executed  and
     delivered by such Party's duly authorized  representatives,  as of the date
     first set forth above and shall be effective simultaneously.

5.   Party B  represents  and  warrants  to Party A that Party B owns all of the
     shares of Company  set forth  below its name on the  signature  page below,
     free and clear of all liens and  encumbrances,  and Party B has not granted
     to anyone,  other than  Party A, a power of  attorney  or proxy over any of
     such shares or in Party B's rights as a  shareholder  of  Company.  Party B
     further  represents  and warrants  that the  execution and delivery of this
     Agreement  by Party B will not  violate any law,  regulations,  judicial or
     administrative order,  arbitration award,  agreement,  contract or covenant
     applicable to Party B.

6.   This Agreement may not be terminated  without the unanimous consent of both
     Parties,  except that Party A may, by giving thirty (30) days prior written
     notice to Party B hereto, terminate this Agreement

7.   Any amendment and/or rescission shall be agreed by the Parties in writing.

8.   The execution,  validity,  construction  and  performance of this Agreement
     shall be governed by the laws of PRC.

                                       2
<PAGE>
9.   This  Agreement  has been  executed  in three (3)  duplicate  originals  in
     English,  each  Party has  received  one (1)  duplicate  original,  and all
     originals shall be equally valid.

10.  Both Parties  agree that in case of disputes  arising from this  Agreement,
     both Parties shall settle their dispute through mediation, not in a lawsuit
     brought in Court.  If the Parties  cannot reach a settlement  45 days after
     the  mediation,  the  dispute  shall  be  referred  to  and  determined  by
     arbitration  in the China  International  Economic  and  Trade  Arbitration
     Commission  ("CIETAC")  Shanghai Branch upon the initiation of either Party
     in accordance with the prevailing  arbitration rules of CIETAC. The written
     decision of the  arbitrator  shall be binding and conclusive on the Parties
     hereto and enforceable in any court of competent jurisdiction.

                            [SIGNATURE PAGE FOLLOWS]

                                       3
<PAGE>
                                [SIGNATURE PAGE]

IN WITNESS  WHEREOF each party hereto has caused this Proxy Agreement to be duly
executed by itself or a duly authorized  representative  on its behalf as of the
date first written above.

PARTY A:          Capital Future Development Limited
                  Capital Future Development Limited

                  Legal/Authorized Representative: /s/ WANG Zhenggang
                                                  ----------------------------
                  Name:
                       -------------------------------------------------------
                  Title:
                        ------------------------------------------------------

PARTY B:              /s/ WANG Zhenggang
                      ---------------------------------
                  By: WANG Zhenggang;
                  (PRC ID Card No.: 330725196811015038);
                  Shares of. Zhejiang Yong Xin Digital Technology Co., Ltd.
                  owned by WANG Zhenggang: 35%;
                  Home Address: No7, South block 4, Xia Che Men, Yiwu, Zhejiang,
                                China;

                                       4
<PAGE>

                   /s/ Zhang Yimin
                   ---------------------------------
               By: Zhang Yimin
               (PRC ID Card No.: 420106196706282812)
               Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
               ZHANG Yimin: 20%;
               Home Address: No 13 Block 13 Jinshang Li Ding, Chou Cheng Street,
                             Yiwu, Zhejiang, China

                   /s/ LV Huiyi
                   ---------------------------------
               By: LV Huiyi
               (PRC ID Card No.: (pound)(0)440111197109154838)
               Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
               ZHANG Yimin: 20%;
               Home Address: Suite 101, No.45, 475 Huang Chen Dong Road,
                             Guangdong, China

                                       5
<PAGE>
                   /s/ WANG Xiaochun
                   ---------------------------------
               By: WANG Xiaochun
               (PRC ID Card No.: 330723780207004)
               Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
               ZHANG Yimin: 15%;
               Home Address: No. 19, Daming Hall, Wuyang Town, Wuyi District,
                             Zhejiang, China

                   /s/ BAO Zhongsheng
                   ---------------------------------
               By: BAO Zhongsheng
               (PRC ID Card No.: 330725197805030818)
               Shares of Zhejiang Yong Xin Digital Technology Co., Ltd owned by
               ZHANG Yimin: 10%;
               Home Address: No 13 Block 13 Jinshang Li Ding, Chou Cheng Street,
                             Yiwu, Zhengjiang

                                       6

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