Core Viewpoint - The company anticipates continued negative growth in premium income for the year, primarily due to ongoing risk exposure from specific projects and the clearing of existing business risks [1] Group 1: Financial Performance - In the first half of 2020, the company reported total premium income of 336.84 billion yuan, a year-on-year increase of 4.3% [1] - The net profit attributable to shareholders was 12.61 billion yuan, representing a year-on-year decline of 18.6% [1] - The credit guarantee insurance business generated revenue of 4.318 billion yuan, a significant year-on-year decrease of 58.6%, with a combined cost ratio of 138.6, up 40.6 percentage points [1] Group 2: Losses and Risk Management - The primary cause of losses in the first half was attributed to the guarantee insurance segment, particularly losses from financing-related credit insurance [1] - The company has been actively managing claims and recoveries, with expectations that the overall business loss in the second half will significantly narrow compared to the first half [1] - The claim payout ratio for credit guarantee insurance increased by 252.3% year-on-year [1] Group 3: Risk Exposure and Business Strategy - As of June 30, the risk exposure from financing-related credit insurance has significantly decreased, with a substantial reduction in the scale of online consumer finance assets [2] - The company has ceased high-risk online consumer finance projects and is working on risk mitigation strategies for controllable projects in collaboration with major internet platforms and licensed financial institutions [2] - The company aims to clear most of the risks from major loss projects by the end of this year, with a small portion extending into 2022 [2]