(Yicai Global) March 18 -- Shares in a Hainan construction firm rose more than four percent today after it brought in a consultant for a horse racing project on the southerly island province.

Ruize New Building Material [SHE:002596] jumped 4.38 percent to CNY10.24 (USD1.53) after its unit Shenghua Tourism Industry hired Guangzhou-based OneHorse Horse Racing to provide professional consulting services for an equestrian-based project, according to a statement.

OneHorse will provide conceptional planning and a positioning proposal for the Haiken Nantian Equestrian Cultural Town project by May 30 based on the agreement. It also needs to submit professionally written suggestions for the overall plan along with a market review. It will also compile design specifications and recommend domestic and overseas professional designers for the project by the end of September.

OneHorse will participate in the review and acceptance of the design, construction bidding and business investment in the early stage. The two parties will cooperate extensively in the late stage with the Guangzhou firm participating in the organization of horse racing events, horse management, integration of equestrian resources, talent recruitment and training, as well as the establishment and operation of industry investment funds, the statement said.

The two sides will sign detailed agreements to determine work content and incentives at a later date.

OneHorse has developed a mature operating model for the design, operation and public relations of investments related to horse ranches and also runs marketing platforms such as website Horse China One and streaming portal Global Horse Racing.

Chinese authorities aim to transform the whole island of Hainan into an international hub for tourism and horse racing will be a key feature. The National Development and Reform Commission released a policy document at the end of 2018 to support the province in constructing the project.

Editor: William Clegg