A Study of HDM1005 in Participants With T2DM Not Controlled With Diet/Exercise or Metformin

Inclusion Criteria: * Confirmed as Type 2 Diabetes Mellitus (T2DM) for at least 24 weeks; * Hemoglobin A1c (HbA1c) ≥7.5% and ≤10.5% * Body Mass Index (BMI within the range of 22.5 \~ 40.0 kg/m2 Exclusion Criteria: * Other types of diabetes besides T2DM * Acute complications of diabetes (such as diabetic ketoacidosis, diabetic lactic acidosis, or hyperosmolar non-ketotic coma) occurred within 24 weeks prior to signing the Informed Consent Form (ICF) * History of a level 3 hypoglycemic episode or a history of asymptomatic hyp oglycemic episodes within 24 weeks prior to signing the ICF * History or family history of medullary thyroid carcinoma (MTC), thyroid C-cell hyperplasia, or multiple endocrine neoplasia type 2 (MEN2) * History of acute or chronic pancreatitis; or presence of risk factors for pancreatitis; or history of symptomatic gallbladder disease within 24 weeks prior to signing the ICF * Investigator determines that the subject has a condition or disease affecting gastric emptying or gastrointestinal nutrient absorption, such as weight-loss surgery or other gastric resections, irritable bowel syndrome, dyspepsia, or gastroparesis * Use of antidiabetic medications within 12 weeks prior to signing the ICF * Hemoglobin (Hb) \<100 g/L (female) or \<110 g/L (male) * FPG ≥13.9 mmol/L * Aspartate aminotransferase (AST) \>2.5× upper limit of normal (ULN) and/or alanine aminotransferase (ALT) \>2.5× ULN * Total bilirubin \>1.5× ULN * Fasting triglyceride (TG) \>5.6 mmol/L (500 mg/dL)