Looking for games made by Afega - I can only find Red Hawk and Stagger I.
There are a few here that can read Chinese, but from what I can tell (using google translate) that first symbol is 'Red' (I think, because it looks similar) - which would make one think it was related to their Red Hawk game.
Pretty similar to Guardian Storm/Sen Jin screenshots (e.g. double head enemies in the top right of the screen). Maybe a "Guardian Storm II"? Or a Chinese localization of Guardian Storm, retitled as "Something II"? Definitely not in MAME, dump it if you can!
The year "1998" is just below the "Afega". It is much easier to see in the title of "Guardian Storm" which this looks like. I think this is a Chinese ROMhack of "Guardian Storm".
I can get this board shipped for $115 and dump it if anyone wants to pay for it. I've just spent $150 of my own money + all donations recently on some other stuff in Japan. I don't know how different it is from Guardian Storm though. Looks very similar. The board is original Afega though.