Pic source: Manufactuer's website.
At first glance this appears to be a CD based famiclone (similar to the Ashai or Opera AV system.) However in reality the games are built into the system. The "game discs" have little pegs that select the built-in games by pressing a button. Other oddites with this clone is the fact that there is no AC plug (system is powered by 4 AA batteries) and the controllers fit perfectly into a Nintendo Gamecube (but sadly are not compatible.)
More info (and better pics) can be found here.
Thanks to Incognito for the Info.