I'm not 100% convinced these were the first copies, but they might be, however they are the closes to the Giant figures so they get the nominal preeminent title in the copy-numbering, while the C2 (next post, almost certainly came from these) but I stress - as always - this is my numbering system, and means nothing in the grand scheme of things.
They are closest to Giant's in sculpting/detail as well as size, although there is a drop-off in etched surface-detail and the main difference is the addition of a tenth figure, who is not a conversion of the officer/pistol chap, but is clearly based on him, having a straighter back though and different arms/legs, he's the unit Medic with a first-aid kit - early exploits by Giant's own Space Men troops clearly threw-up a high rate of light casualties! We will look more closely at him in the next post. The marking is a large HONG KONG, with two of the figures further possessing a distinct mould release-pin mark/dimple near the center of the base. The 'bazooka' guy is usually seriously deformed like this example, too-rapid removal from the tool is the likely cause? This is a full-colour image! I posed them with a selection of monochromatic accessories/background sheet-materials! I have yet to identify these as having any sets/packaging, but they must have (unless they were in small unmarked bags included in Christmas crackers, crane-machines, capsules etc...?), so they should turn-up one day . . . I hope!===============================================================
But is it Giant?
No, nothing here is Giant production, nor was it issued by or branded to Giant, or produced for Giant.