SELECTED China plays improved yesterday with the Hang Seng China Enterprises Index edging up 19.68 points, or 2.1 per cent, to finish the day at 953.87. Shanghai Petrochemical surged 10 cents, or 4.3 per cent, to end at $2.375. It is the largest petrochemical company on the mainland. Earlier, the company reported a 71 per cent increase in profit to $1.49 billion yuan (about HK$1.37 billion) for last year. Maanshan Iron & Steel, which announced an unexpected plunge of 44 per cent in profit to 749.4 million yuan for last year, climbed five cents, or 3.7 per cent, to $1.40. Hualing, which is due to announce its results on Saturday, rose eight cents, or 7.4 per cent, to $1.16. Other gainers included Shougang International and Shougang Grand, which released their 1994 annual results on Friday. Shougang International, which saw a 224 per cent jump in profit to $172 million for last year, rose seven cents, or 7.1 per cent, to $1.05. Shougang Grand added seven cents, or 12.2 per cent, to 64 cents. It announced a loss of $199 million for last year, compared with a $144 million profit in the previous year. CNPC (Hong Kong) rose 1.2 cents, or 7.8 per cent, to 16.4 cents. Guangnan closed up two cents, or 1.3 per cent, to $1.49. One of the outstanding performers was industrial stock Varitronix International. It posted a gain of $1.20, or 10 per cent, to end at $12.75 on turnover of $20.5 million. Another gainer was paging company Champion Technology which rose four cents, or 6.7 per cent, to 63 cents. Fellow company Star Paging closed firmer at $1.50, or up 13 cents (9.4 per cent), before reporting a 25 per cent profit growth to $125 million in the evening. Ankor Group lost 4.5 cents, or 12 per cent, to 31 cents after reporting its company result for last year. Hit by new taxes and consumer malaise, the Saab and Opel distributor plunged into the red, losing $46 million against a healthy profit of $103 million for 1993. Fortei Holdings lost four cents to 40 cents.