Aug.02 (China Military News cited from Reuters) --  China's biggest military supply provider, Jihua Group, has set the price range for its Shanghai initial public offering to raise as much as 4.05 billion yuan ($A659 million).

Jihua Group, which has a 75 per cent share of China's market for military and police garments, among other equipment, set a price range of 3.08 to 3.50 yuan per share for its planned 1.157 billion A-share IPO, it said in a filing to the Shanghai Stock Exchange.

After the IPO, the price to earnings ratio for the shares will be between 26.87 times to 30.53 times its 2009 net profit, the firm said.

Beijing-based Jihua, which will trade under the ticker symbol, said it needed about 3.25 billion yuan to help it fund five projects to expand production of military garment, boots, cloth and special protection equipment as well as to improve its research ability.

Jihua made an attributable net profit of 453 million yuan last year, down slightly from 466 million yuan in 2008, with unchanged earnings per share (EPS) of 0.17 yuan.

Jihua's IPO comes as the Chinese stock market starts to recover from months in the doldrums.

The benchmark Shanghai Composite Index rose over 10 percent in July, and gained another 1.3 per cent on Monday.

Swiss bank UBS has been appointed Jihua IPO's lead underwriter.

Apr.16 (China Defense Mashup Reporting by Johnathan Weng) -- These photos are from a Chinese people, who is enthusiasted in photograph art and lives in Jilin, north China. His cyber name is "well impression" (出色印象) . Of course, the girl is not a servicewoman but indeed beautiful when wearing PLA's newest Type 07 uniform. The "lucky" vehicle, which has intimate contact with the beauty, is BJ2022JC “Brave Warrior” light utility vehicles, developed by Beijing Automobile Works (BAW). China-Defense-Mashup has reported the performce and sepcification of this vehicle before, you can find this story by clicking the tag of "Land Warfare System" or searching "Brave Warrior".

[Show as slideshow]