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      D.C. 20549</font></div>
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      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
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      TO SECTION 13 OR 15(d)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OF
      THE
      SECURITIES AND EXCHANGE ACT OF 1934</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (Date of Earliest Event Reported): August 25, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong><u>MGCC
      INVESTMENT STRATEGIES INC.</u></strong></font></div>
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      name of registrant as specified in its charter)</font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">0-50883</font></div>
              </div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">88-0495105</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(State
                of Incorporation)</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font size="2">(Commission
                File
                No.)</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(IRS
                Employer ID
                No.)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>No.
      56 Lingxi Street</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Taihe
      District</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Jinzhou
      City, Liaoning</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>People&#8217;s
      Republic of China, 121013</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -9pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
      of Principal Executive Offices)</font></div>
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      0416-5186632</strong></font></div>
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      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):</font></div>
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            <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></td>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR.425)</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12) </font></div>
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            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;"><font style="FONT-FAMILY: Wingdings">o</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
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          <hr style="COLOR: black" noshade size="2">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="up"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        1.01<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;ENTRY INTO A MATERIAL
        DEFINITIVE AGREEMENT.</strong></font></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Credit
        Facility Agreement</em></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        August
        21, 2006, Jinzhou Halla Electrical Equipment Co., Ltd. (&#8220;Halla&#8221;), a wholly-owned
        subsidiary of MGCC Investment Strategies Inc. (the &#8220;Company&#8221;), entered into a
        Credit Facility Agreement (the &#8220;Credit Facility Agreement&#8221;) with the Bank of
        China Jinzhou Tiebei branch (the &#8220;Bank&#8221;) pursuant to which the Bank has agreed
        to provide Halla a RMB 80 million (approximately US$10 million) revolving
        credit
        facility. The Credit Facility Agreement permits Halla to request loans under
        the
        line of credit facility until August 8, 2007 and may be renewed upon the
        Bank&#8217;s
        approval of Halla&#8217;s application for such renewal. A separate agreement will be
        entered into each time advances are made pursuant to the Credit Facility
        Agreement. The interest rate on amounts drawn under the line of credit will
        be
        established at the time each advance is made under the line of credit. The
        date
        of repayment of the principal and interest advanced under the line of credit
        likewise will be established at the time amounts are advanced. Halla&#8217;s
        obligations under the Credit Facility Agreement will be secured by a mortgage
        on
        Halla&#8217;s property. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Share
        Purchase Agreement</em></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        August
        23, 2006, the Company&#8217;s wholly owned subsidiary, Wonder Auto Limited (&#8220;Wonder&#8221;)
        entered into a Share Purchase Agreement (the &#8220;Share Purchase Agreement&#8221;) with
        Winning International Development Limited (&#8220;Winning&#8221;), a British Virgin Islands
        corporation, which holds 50% of the total shares of Jinzhou Dong Woo Precision
        Co. Ltd. (&#8220;Dong Woo&#8221;). Dong Woo is a supplier of raw materials to Wonder.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the Share Purchase Agreement, Winning will sell all of its shares of Dong
        Woo, representing 50% of the total shares of Dong Woo, to Wonder in exchange
        for
        a cash payment in the amount of US$ 4.85 million (the &#8220;Purchase Price&#8221;), US$2.42
        million of which will be paid within one month after the signing of the Share
        Purchase Agreement and the remaining US$2.43 million will be paid within
        5 days
        after the confirmation by Wonder that Dong Woo attains a net income of no
        less
        than RMB13 million for the fiscal year of 2006. If Dong Woo fails to attain
        a
        net income of RMB 13 million, Wonder is entitled to deduct the Purchase Price
        proportionately with the amount of the unfulfilled net profit. Wonder will
        have
        all the rights as a shareholder of Dong Woo with respect to the shares covered
        by the Share Purchase Agreement as of the signing date of the Share Purchase
        Agreement. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        foregoing description does not purport to be a complete statement of the
        parties&#8217; rights and obligations under the Credit Facility Agreement, the Share
        Purchase Agreement or the transactions contemplated thereby or a complete
        explanation of the material terms thereof. The foregoing description is
        qualified in its entirety by reference to the Credit Facility Agreement and
        the
        Share Purchase Agreement attached hereto as Exhibits 10.1 and 10.2.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM&#160;2.03<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CREATION
        OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET
        ARRANGEMENT OF A REGISTRANT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        information set forth above in Item&#160;1.01 with respect to Credit Facility
        Agreement is hereby incorporated into this Item&#160;2.03 by reference.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        9.01<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FINANCIAL
        STATEMENTS AND EXHIBITS </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="line-height: 1.25;">
              <td align="left" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                10.1</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Credit
                  Facility Agreement, dated August 21, 2006, by and between Jinzhou
                  Halla
                  Electrical Equipment Co., Ltd. and the Bank of China Jinzhou Tiebei
                  branch.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

            <tr valign="top" style="line-height: 1.25;">
              <td align="left" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                10.2</font></td>
              <td align="left">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Share
                  Purchase Agreement, dated August 23, 2006, by and between Wonder
                  Auto
                  Limited and Winning International Development
                  Limited.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities and Exchange Act of 1934, the registrant
        has duly caused this report to be signed on its behalf by the undersigned
        hereunto duly authorized. </font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">MGCC
        Investment Strategies Inc.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
        August 25, 2006</font></div>
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        Qingjie Zhao</u></font></div>
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        Executive Officer</font></div>
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{"company-data": {"conformed-name": "MGCC INVESTMENT STRATEGIES INC", "cik": "0001162862", "assigned-sic": "3714", "irs-number": "880495105", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50883", "film-number": "061056731"}, "business-address": {"street1": "8300 GREENSBORO DRIVE", "street2": "SUITE 800", "city": "MCLEAN", "state": "VA", "zip": "22102", "phone": "7039184926"}, "mail-address": {"street1": "8300 GREENSBORO DRIVE", "street2": "SUITE 800", "city": "MCLEAN", "state": "VA", "zip": "22102"}}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
PURSUANT
      TO SECTION 13 OR 15(d)
OF
      THE
      SECURITIES AND EXCHANGE ACT OF 1934
Date
      of
      Report (Date of Earliest Event Reported): August 25, 2006
MGCC
      INVESTMENT STRATEGIES INC.
(Exact
      name of registrant as specified in its charter)
Nevada
0-50883
88-0495105
(State
                of Incorporation)
(Commission
                File
                No.)
(IRS
                Employer ID
                No.)
No.
      56 Lingxi Street
Taihe
      District
Jinzhou
      City, Liaoning
People's
      Republic of China, 121013
(Address
      of Principal Executive Offices)
(86)
      0416-5186632
Registrant's
      Telephone Number, Including Area Code:
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):
o
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR.425)
o
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
o
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
o
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
ITEM
        1.01
ENTRY INTO A MATERIAL
        DEFINITIVE AGREEMENT.
Credit
        Facility Agreement
On
        August
        21, 2006, Jinzhou Halla Electrical Equipment Co., Ltd. ("Halla"), a wholly-owned
        subsidiary of MGCC Investment Strategies Inc. (the "Company"), entered into a
        Credit Facility Agreement (the "Credit Facility Agreement") with the Bank of
        China Jinzhou Tiebei branch (the "Bank") pursuant to which the Bank has agreed
        to provide Halla a RMB 80 million (approximately US$10 million) revolving
        credit
        facility. The Credit Facility Agreement permits Halla to request loans under
        the
        line of credit facility until August 8, 2007 and may be renewed upon the
        Bank's
        approval of Halla's application for such renewal. A separate agreement will be
        entered into each time advances are made pursuant to the Credit Facility
        Agreement. The interest rate on amounts drawn under the line of credit will
        be
        established at the time each advance is made under the line of credit. The
        date
        of repayment of the principal and interest advanced under the line of credit
        likewise will be established at the time amounts are advanced. Halla's
        obligations under the Credit Facility Agreement will be secured by a mortgage
        on
        Halla's property.
Share
        Purchase Agreement
On
        August
        23, 2006, the Company's wholly owned subsidiary, Wonder Auto Limited ("Wonder")
        entered into a Share Purchase Agreement (the "Share Purchase Agreement") with
        Winning International Development Limited ("Winning"), a British Virgin Islands
        corporation, which holds 50% of the total shares of Jinzhou Dong Woo Precision
        Co. Ltd. ("Dong Woo"). Dong Woo is a supplier of raw materials to Wonder.
Pursuant
        to the Share Purchase Agreement, Winning will sell all of its shares of Dong
        Woo, representing 50% of the total shares of Dong Woo, to Wonder in exchange
        for
        a cash payment in the amount of US$ 4.85 million (the "Purchase Price"), US$2.42
        million of which will be paid within one month after the signing of the Share
        Purchase Agreement and the remaining US$2.43 million will be paid within
        5 days
        after the confirmation by Wonder that Dong Woo attains a net income of no
        less
        than RMB13 million for the fiscal year of 2006. If Dong Woo fails to attain
        a
        net income of RMB 13 million, Wonder is entitled to deduct the Purchase Price
        proportionately with the amount of the unfulfilled net profit. Wonder will
        have
        all the rights as a shareholder of Dong Woo with respect to the shares covered
        by the Share Purchase Agreement as of the signing date of the Share Purchase
        Agreement.
The
        foregoing description does not purport to be a complete statement of the
        parties' rights and obligations under the Credit Facility Agreement, the Share
        Purchase Agreement or the transactions contemplated thereby or a complete
        explanation of the material terms thereof. The foregoing description is
        qualified in its entirety by reference to the Credit Facility Agreement and
        the
        Share Purchase Agreement attached hereto as Exhibits 10.1 and 10.2.
ITEM 2.03
CREATION
        OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET
        ARRANGEMENT OF A REGISTRANT
The
        information set forth above in Item 1.01 with respect to Credit Facility
        Agreement is hereby incorporated into this Item 2.03 by reference.
ITEM
        9.01
FINANCIAL
        STATEMENTS AND EXHIBITS
Exhibit
                10.1
Credit
                  Facility Agreement, dated August 21, 2006, by and between Jinzhou
                  Halla
                  Electrical Equipment Co., Ltd. and the Bank of China Jinzhou Tiebei
                  branch.
Exhibit
                10.2
Share
                  Purchase Agreement, dated August 23, 2006, by and between Wonder
                  Auto
                  Limited and Winning International Development
                  Limited.
SIGNATURES
Pursuant
        to the requirements of the Securities and Exchange Act of 1934, the registrant
        has duly caused this report to be signed on its behalf by the undersigned
        hereunto duly authorized.
MGCC
        Investment Strategies Inc.
Date:
        August 25, 2006
/s/
        Qingjie Zhao
Chief
        Executive Officer