Prepare the Marinade: In a large mixing bowl, combine hoisin sauce, soy sauce, oyster sauce, honey, Shaoxing wine, sesame oil, five-spice powder, brown sugar, minced garlic, grated ginger, and optional red food coloring. Whisk everything together until thoroughly blended and smooth.

Marinate the Chicken: Add the chicken thighs to the marinade, ensuring each piece is well-coated. Cover and refrigerate for at least 4 hours, ideally overnight.

Preheat the Oven: Preheat your oven to 400°F (200°C). Prepare the baking tray and wire rack.

Set Up for Baking: Line a baking tray with aluminum foil. Place a wire rack on top and arrange the marinated chicken thighs on the rack, spaced apart.

Bake the Chicken: Slide the tray into the preheated oven and bake for 25–30 minutes until the internal temperature reaches 165°F (75°C).

Baste for a Glossy Finish: Every 10 minutes, baste the chicken with the reserved marinade for a sticky finish.

Broil for Extra Char: In the final 5 minutes of baking, switch to broil for a charred exterior.

Rest and Serve: Once baked, let the chicken rest for a few minutes, slice into strips, and serve warm.