BEIJING - Enterprises listed on China's NASDAQ-style board ChiNext saw improved performance in 2022, data shows.

Their average business revenue stood at about 2.81 billion yuan ($405.83 million) last year, up 20.43 percent year-on-year, according to data from the Shenzhen Stock Exchange.

Net profits of the enterprises averaged at 194 million yuan, surging 11.07 percent year-on-year, the data shows.

Around 60 percent of the enterprises saw year-on-year revenue growth, while the revenues of 99 companies surged over 50 percent.

Last year, the enterprises continued to ramp up research and development spending, with combined investment in the area amounting to 170 billion yuan, up nearly 20 percent year-on-year.