Formerly known as Shanghai No.1 Textile Industry Co., Ltd. established in 1966, NUTEX carried out its business covering two industries, i.e. yarn dye and handkerchief, had 35000 employees, 34 yarn-dyed fabric factories, 18 handkerchief factories, and 12 factories manufacturing accessory products. In the 1980s, with the implementation of the Reform and Opening-up Policy, foreign trade companies that combine industry and trade emerged. In January 1982, the handkerchief industry joined hands with trading companies to establish handkerchief import and export companies - the first foreign trade companies nationwide to combine industry and trade.

After combining industry with trade, NUTEX continued to move ahead by further improving its system and cultivating talents. In 1992, NUTEX became the first to establish a branch office in Pudong. This year was also the 10th anniversary of the handkerchief company which was renamed Hansen company in 1994. In 1995, it's been 10 years since NUTEX was established. That year witnessed the great acievements of both the handkerchief company and NUTEX, which were prised and inscribed by leaders from Shanghai and the central government. Shanghai Chemical Fiber (Group) Import & Export Co., Ltd., established in 1991, became one of the top-class enterprises that produce, develop and operate PVC oxford fabric, flocked cloth, polyester textile and other chemical fiber fabrics.

The 21st century is a significant period for Shanghai textile to make adjustment, transformation and development. During this period, NUTEX has seen the greatest transformation and rapid development since its inception. Having experienced several reorganizations, the company has issued a series of transformation measures to get over the survival crisis inside and the financial crisis outside. In 2008, Shanghai Chemical Fiber (Group) Import & Export Co., Ltd. joined NUTEX. In 2010, the 25th anniversary of the establishment of NUTEX, it made a significant breakthrough, bringing import & export trade, main business revenue and profit to record highs.

Since the 18th National Congress of the Communist Party of China, the economic development in China has entered a new normal. In "the 12th Five-Year Plan", Shanghai proposed to take a path of innovation-driven and transformation for development. During this period, NUTEX worked hard to seek for innovation and transformation, explore new trade, expand its industry chain, and improve the development quality. For the business segment, it conducted professionalized management based on the "Five Initiatives". In this context, it grew steadily at more than 20% per year in spite of the depressed market situation.