04-28-2011, 04:28 PM
It is the award for the members of a "Red Flag" company. It is a type of distinguished unit award for those units that demonstrated particular proficiency in both the military and political areas. There were four different versions of the badge depending upon whether it was the first, second, third, or fourth award of the flag (there is in fact a special flag that the unit carries). I can't recall off the top of my head, but I think that your badge is for a first or fourth award.
