This image is based on the 1961 movie Red Detachment of Women. On the left is the main character Wu Qionghua (吳琼花), played by Zhu Xijuan (祝希娟). On the right is the commander of the detachment. The movie became very popular and was adapted into a ballet version that became one of the eight "Model Works".
This is a print from the sixth edition (November 1964).