In a large mixing bowl, combine the hoisin sauce, soy sauce, oyster sauce, honey, Shaoxing wine, sesame oil, five-spice powder, brown sugar, minced garlic, grated ginger, and red food coloring (if using). Mix thoroughly until all ingredients are well incorporated.

Add the chicken thighs to the marinade, ensuring that each piece is well-coated. Cover the bowl with plastic wrap and refrigerate for at least 4 hours, or overnight for best results.

Preheat your oven to 400°F (200°C).

Remove the chicken from the marinade, allowing excess marinade to drip off, and arrange the pieces on a wire rack set over a baking tray lined with aluminum foil.

Bake the chicken in the preheated oven for about 25-30 minutes, or until the chicken is cooked through and reaches an internal temperature of 165°F (75°C).

Throughout baking, baste the chicken with the reserved marinade every 10 minutes for extra flavor.

In the last 5 minutes of cooking, switch the oven to broil function to achieve a slightly charred and caramelized exterior.

Remove the chicken from the oven, let it rest for a few minutes, and then slice into pieces. Serve warm with steamed rice or noodles, garnished with chopped green onions if desired.