A Study to Evaluate AHB-137 Injection in Treatment-naïve Participants With Chronic Hepatitis B

This study is a randomized, double-blind, placebo-controlled, multicenter phase 2 study to assess the efficacy and safety of AHB-137 injection in treatment-naïve participants with chronic hepatitis B.

Inclusion Criteria: * Volunteer to participate and sign the informed consent form, and are willing to complete the study in accordance with the requirements of the protocol. * Aged 18-65 years (including boundary values). * Body mass index between the range of 18-32 kg/m2 (inclusive boundary values). * HBsAg or HBV DNA positive for ≥ 6 months at screening and no antiviral treatment with interferon or nucleoside analogue. * HBsAg and HBV DNA values met protocol requirements at screening. * ALT \< 3xULN at screening. * Use highly effective contraception as required. Exclusion Criteria: * Uncontrolled and stable clinically significant abnormalities other than a history of chronic HBV infection. * Participants with other clinically significant liver diseases, previous/current manifestations of hepatic decompensation, and a history of extrahepatic diseases that may be related to HBV immune status. * Any serious infection other than chronic hepatitis B infection requiring intravenous anti-infective therapy within 1 month prior to randomization. * Hepatitis C virus (HCV) infection or \< 12 months from cure at screening (HCV RNA positive within 12 months), human immunodeficiency virus (HIV) positive at screening, and syphilis positive (treponema pallidum antibody positive). * Significant fibrosis or cirrhosis, or liver stiffness value (LSM) \> 9.0 kPa at screening. * Participants with confirmed or suspected liver cancer who have a history of malignancy within the past 5 years or are undergoing assessment for a possible malignancy. * Laboratory test results do not meet the criteria. * Prior/current autoimmune disease, history of vasculitis, or presence of signs, symptoms, or laboratory tests of underlying vasculitis. * Fridericia ' s formula corrected QT interval (QTcF) ≥ 450 msec for male participants and ≥ 470 msec for female participants at screening. * Allergic to AHB-137 ingredients, or history of drug allergy or other allergies. * Major trauma or major surgery within 3 months prior to screening, or planned surgery during the trial. * Participants are participating in another clinical trial or failing to wash out as required. * Current use or use of any immunosuppressive medication (e.g. prednisone) within 3 months prior to screening, except for short courses (≤ 2 weeks) or use of topical/inhaled steroids;Those who have used immunomodulators within 3 months prior to screening;Those who have used cytotoxic drugs within 6 months prior to screening;History of vaccination within 1 month prior to screening or a live vaccination plan during the trial. * Participants that require regular long-term anticoagulants. * Abnormal thyroid function. * Participants that have received any antisense oligonucleic acid, siRNA, capsid assembly modulator (CAM) antiviral drug used to treat chronic hepatitis B. * Any other circumstances or conditions in which, in the opinion of the investigator, the participant is inappropriate for participation in this trial.