BEIJING — Companies listed on China's Shenzhen Stock Exchange saw more cash inflows from financing activities in the first quarter as authorities stepped up efforts to help firms stay liquid amid the epidemic.

Cash inflows from financing activities surged 17.9 percent year-on-year in Q1, compared with a rise of 3.4 percent during the same period last year, the Shenzhen Stock Exchange said in a report analyzing over 2,000 listed firms that filed their Q1 results.

The analysis also showed that the listed firms' debt risks are under control, with coverage ratios measuring their ability to service debts staying relatively stable.

Authorities have rolled out a series of measures to support the financing of firms as COVID-19 weighed on their revenues and strained cash flows.

The central bank has been guiding lower lending rates and injecting liquidity into the market via various monetary tools. In the meantime, companies are encouraged to raise funds through bonds and other financing channels.

In Q1, combined revenues of Shenzhen-listed firms dropped by 8.1 percent year-on-year, while their net profits fell by 25.8 percent, the report showed.