A Study of Camrelizumab Combined With Rivoceranib Mesylate Versus Investigator's Choice of Regimen in Treatment of Patients With Advanced Hepatocellular Carcinoma (HCC)

Inclusion Criteria: 1. Subject must participate voluntarily and sign the informed consent form; 2. Aged ≥ 18 years old, male or female; 3. Histopathologically confirmed hepatocellular carcinoma; 4. Has PD on treatment with prior anti-PD-1/PD-L1/CTLA-4 monoclonal antibody (mAb) administered either as monotherapy or as combination therapy. 5. No more than 2 lines of previous system treatment; 6. Be able to provide fresh or archived tumor tissue samples; 7. Patient with at least one measurable lesion (for Stage I); 8. Barcelona clinic liver cancer: Stage B or C; 9. Child-Pugh score: ≤ 7; 10. ECOG PS score of 0-1; 11. Life expectancy of ≥ 12 weeks; 12. Adequate organ function 13. Must take one medically approved contraceptive measure Exclusion Criteria: 1. Patients with any active, known or suspected autoimmune disorder; 2. Patients who have used corticosteroids or other immunosuppressive agents for systemic treatment within 1 month prior to randomization; 3. With known severe allergic reactions to any other monoclonal antibodies; 4. Received previous camrelizumab or rivoceranib mesylate treatment; 5. Patients who discontinued ICIs treatment due to immune-related toxicity; 6. Patients with known CNS metastasis or hepatic encephalopathy; 7. Patients with liver tumor burden greater than 50% of total liver in volume, or patients who have previously undergone liver transplantation;; 8. Patients with symptomatic ascites or pleural effusion requiring paracentesis and drainage, or patients who have undergone ascites or pleural effusion drainage within 2 weeks before randomization; 9. Patients with other malignancies currently or within the past 5 years; 10. Patients with hypertension which cannot be well controlled by antihypertensives; history of hypertensive crisis or hypertensive encephalopathy; 11. Uncontrolled cardiac diseases or symptoms； 12. Known hereditary or acquired bleeding disorders; 13. Clinically significant bleeding symptoms or clear bleeding tendency; 14. Patients with gastrointestinal perforation or gastrointestinal fistula; 15. Patients with significant vascular invasions with a high possibility of fatal bleeding; 16. Patients with important arterial/venous thrombosis; 17. Patients experiencing toxicity caused by previous anti-tumor therapy that has not recovered to Grade ≤ 1; 18. Patients with active infection; 19. Patients with congenital or acquired immune deficiency; 20. Patients who received live vaccines within 28 days prior to randomization, or are expect to be vaccinated during the treatment period; 21. Patients with other potential factors that may affect the study results.