A Study Comparing IBI362 vs Semaglutide in Chinese Overweight or Obese Adults With Metabolic Dysfunction-associated Fatty Liver Disease （MAFLD）

Inclusion Criteria:

1. Male or female, age 18 years or older at the time of signing informed consent

2. diagnosed as MAFLD according to the Chinese Guideline for the prevention andtreatment of metabolic dysfunction-associated (non-alcoholic) fatty liver disease (Version 2024)

3. liver fat content ≥8% measured by MRI-PDFF

4. BMI≥27 kg/m2

5. Weight change ≤5% within 3 months before screening

6. HbA1c≤10%

Exclusion Criteria:

1. Subjects who the investigator thinks may be allergic to the components in the studydrug or similar drugs

2. Used drugs or alternative therapies with weight loss effects within 3 months beforescreening, including but not limited to: GLP-1 receptor agonists, orlistat,phenylpropanolamine, chlorpheniramine, phentermine etc.

3. Received chronic (>2 weeks) systemic glucocorticoid treatment within 3 months beforescreening (excluding topical, intraocular, intranasal, and inhaled administration)

4. Previous diagnosis of type 1 diabetes (including adult latent autoimmune diabetes)

5. Active or untreated malignant tumors within 5 years before screening, or patientsare in remission of clinical malignant tumors (except patients with skin basal cellcarcinoma and squamous cell carcinoma, cervical carcinoma in situ, prostatecarcinoma in situ or papillary thyroid carcinoma who have no recurrence aftersurgery)

6. Mental illness existed in the past or at the time of screening, and the researcherthinks it is not suitable to participate in this study

7. Pregnant or lactating women, or men or women who are fertile and unwilling to usecontraception throughout the study period