China New Economy Fund Limited announced that Mr. Chow Yeung Tuen Richard ("Mr. Chow") has tendered his resignation as a non-executive Director of the Company with effect from 3 January 2023 due to his other business commitments. Mr. Chow has confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. The Board would like to take this opportunity to express its sincere gratitude to Mr. Chow for his valuable contributions to the Company during his tenure of office.