I took that quote to mean that China's richer tech valuations was also a factor that attracted the company to China. Earlier, the article talked about the main reason why the company moved to China: it wanted to align itself with China's national interest. But since relocating there, the company stock soared 500%.
So the analyst said: "Still, China's richer tech valuations may have been a draw." Aligning the company with China's national interest was a draw, but the high tech valuations was also a draw.
A draw can mean a force that attracts or compels you to do something:
The family moved to the suburbs from the city. Cheaper housing may have been a draw.