(Yicai Global) June 1 -- Guangdong Minghua Machinery Co., the first Chinese company owned by a provincial government to be contracted for a core military project, has successfully conducted ground firing tests for a missile named HD-1, which will be made for export.

The projectile's engine system underwent three-stage testing with a solid fuel rocket booster, nozzleless booster and solid fuel ramjet, parent company Guangdong Hongda Blasting said in a statement on May 30, without disclosing technical details, possible applications or production costs of the system.

China's State Administration of Science, Technology and Industry for National Defense wrote to Hongda, a civil explosives manufacturer, via the provincial government in early May to offer support for the research and development of the missile.

Hongda generates most of its revenue from civil blasting and mining services, but defense contracts will be its biggest money maker within the next five years, Chairman Zheng Bingxu said at a forum on May 11.

Editor: James Boynton