A Clinical Trial Comparing TQC3927 Inhaled Powder With Glycopyrronium Bromide and Formoterol Inhaled Aerosol (Biovoping® Lingchang®) for the Treatment of Chronic Obstructive Pulmonary Disease

Participants currently diagnosed with asthma (including asthma with COPD) or with a history of asthma, based on the investigator's judgment;

Participants with a current life-threatening COPD history;

Participants with concurrent active or clinically significant respiratory illnesses that significantly impact the study;

Participants with serious illnesses other than COPD, or abnormalities in laboratory tests, electrocardiograms, medical history, or physical examinations;

Participants who have undergone lung volume reduction surgery, lobectomy/segmentectomy, or are expected to undergo lung surgery during the study period within 12 months prior to V1;

Participants who have developed pneumonia or lower respiratory tract infections requiring antibiotic treatment within 8 weeks prior to V1 or between V1 and V3;

Participants with clinically significant abnormalities on chest computed tomography (CT);

Participants currently using positive pressure ventilation;

Participants requiring long-term oxygen therapy (oxygen therapy time \> 15 minutes). 10. Individuals undergoing pulmonary rehabilitation;

Participants who changed their smoking status (i.e., started or stopped smoking) or began a smoking cessation program within 6 weeks prior to screening;

Individuals with unstable or life-threatening heart disease;

Individuals using non-selective oral beta-blockers;

Individuals with unstable or uncontrolled hypertension;

Abnormal values in clinically significant safety laboratory tests determined by the investigator at the screening visit;

Positive results for human immunodeficiency virus (HIV); positive results for hepatitis B surface antigen (HBsAg); positive results for hepatitis C virus (HCV) antibody and supporting documentation.

Individuals with a confirmed history of neurological or psychiatric disorders, including epilepsy or dementia requiring treatment;

Individuals with a history or current condition of neuropsychiatric, respiratory, cardiovascular, digestive, hematopoietic, lymphatic, immune, hepatic or renal insufficiency, endocrine, musculoskeletal, or other diseases;

Individuals who have participated in any drug or medical device clinical trial and received a study intervention within 4 weeks or 5 drug half-lives (whichever is longer) prior to screening;

Individuals who have lost or donated more than 400 ml of blood within 3 months prior to the trial. 21. Individuals with a known history of drug or food allergies, especially to components similar to the investigational drug;

Individuals who have frequently consumed alcohol within the 6 months prior to screening, or who have tested positive for alcohol in a breathalyzer test;

Individuals who have received a live attenuated vaccine within 28 days prior to randomization, an inactivated vaccine within 7 days prior to randomization, or are scheduled to receive a vaccine during the study period;

Individuals with a history of any organ or systemic malignancy within the past 5 years;

Individuals with a history of drug abuse within the past 2 years, or who have tested positive for drug abuse;

Individuals assessed by the investigators as unable to discontinue prohibited drugs as specified in the protocol during the screening and treatment phases of this study;

Pregnant or lactating women, or female participants with positive pregnancy test results;

Individuals with difficulty obtaining venous blood or a history of fainting from needles or blood loss;

What this study is about