研究报告 Research Report 30 Sep 2025 中国必需消费 China (Overseas) Staples 中国必选消费品 9 月成本报告：双节前成本指数波动较小 September CGCI: Cost indices fluctuated slightly before the Festivals [Table_yemei1] 观点聚焦 Investment Focus | [Table_Info] | | | | | --- | --- | --- | --- | | | | | 市盈率 P/E | | 股票名称 | 评级 目标价 | PE(2025E) | PE(2026E) | | 百威亚太 | Neutral 7.90 | 21 | 20 | | 华润啤酒 | Outperform 36.00 | 15 | 14 | | 海底捞 | Outperform 18.22 | 14 | 14 | | 康师傅 | Outperform 17.74 | 14 | 12 | | 中国飞鹤 | Outperform 7.00 | 8 | 8 | | 颐海国际 | Outperform 18 ...