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This paper presents a new neural network model for solving constrained variational inequality problems by converting the necessary and sufficient conditions for the solution into a system of nonlinear projection equations. Five sufficient conditions are provided to ensure that the proposed neural network is stable in the sense of Lyapunov and converges to an exact solution of the original problem by defining a proper convex energy function. The proposed neural network includes an existing model, and can be applied to solve some nonmonotone and nonsmooth problems. The validity and transient behavior of the proposed neural network are demonstrated by some numerical examples.