Companies listed on the Shanghai Stock Exchange's sci-tech innovation board saw stellar performance in terms of both revenues and profits in 2022.

The combined operating revenue of these tech firms jumped 29 percent from a year earlier to 1.21 trillion yuan (about 174.75 billion U.S. dollars), according to the exchange.

Their net profits attributable to shareholders totaled 113.59 billion yuan, up 6 percent year on year.

R&D spending of these companies totaled 128.47 billion yuan, increasing by 28 percent year on year.

Companies listed on the Shanghai main board raked in 50.55 trillion yuan in revenue in 2022, up 6 percent year on year. Their net profits improved by 2 percent to reach 4.16 trillion yuan.