BEIJING — Firms listed on the Shanghai Stock Exchange saw steady profit growth in 2017, the stock exchange said on May 1.

Total net profit of the 1,417 Shanghai-listed firms which have disclosed their 2017 financial performance by April 30 reached about 2.62 trillion yuan ($413.7 billion), up 18.55 percent year-on-year.

Their total revenue stood at 27.97 trillion yuan, up 14.46 percent year-on-year.

Listed firms in the real economy continued to grow steadily in revenue and profit, which rose 16.32 percent and 39.8 percent year-on-year respectively.

Ferrous metal, coal and nonferrous metal firms became big winners thanks to the country’s continuous efforts of cutting overcapacity. Listed firms in the ferrous sector saw total profit surge over 500 percent year-on-year.