Aim: This study aimed to investigated the pharmacokinetics of HR19042 in comparison with the other two budesonide targeted-release formulations in healthy Chinese subjects. Methods: A randomized, single-dose, open-label, 6-sequence, 3-treatment crossover Phase I study was conducted on healthy Chinese participants. During each treatment period, subjects received a single oral dose of 1 of 3 treatments under fasted conditions: 4 HR19042 capsules (4 mg; total dose 16mg), 4 Nefecon capsules (4 mg; total dose 16mg), or 5 Budenofalk capsules (3 mg; total dose 15mg). Plasma budesonide concentrations were determined using liquid chromatography with tandem mass spectrometry. Pharmacokinetic (PK) parameters were analyzed using non-compartmental methods. The safety of all three formulations was monitored and evaluated. Results: Eighteen subjects were successfully completed the trial. The median Tlag and Tmax of HR19042 were 1.25 hours and 3.50 hours shorter than Nefecon. The Cmax of HR19042 was approximately 1.9- and 1.4-fold higher than that of Nefecon and Budenofalk, respectively. The relative bioavailability (F) of HR19042 was approximately 136.93% and 129.68% relative to Nefecon and Budenofalk, respectively. The partial exposure (AUC4-8h) of HR19042 within 4-8 hours post-dose was approximately 3.2-fold higher than that of Nefecon. These results indicate that HR19042 has a faster absorption rate and higher oral bioavailability compared to Nefecon and Budenofalk. All treatments were well-tolerated. Conclusions: HR19042 exhibited faster absorption rate and higher oral bioavailability compared to Nefecon and Budenofalk. It has the potential to enhance the selective immunomodulatory effect in patients with IgAN without increasing safety concerns.