In a mixing bowl, whisk together Char Siu sauce, soy sauce, hoisin sauce, Shaoxing wine, honey, minced garlic, five-spice powder, and red food coloring (if using).
Place chicken thighs in a bowl or resealable plastic bag.
Pour marinade over the chicken, ensuring even coating.
Cover and refrigerate for at least 4 hours or overnight for best results.
Preheat to 400°F (200°C).
Line a baking sheet with foil and place a wire rack on top.
Arrange marinated chicken on the wire rack.
Reserve leftover marinade for basting.
Bake for 15 minutes.
Brush chicken with reserved marinade.
Rotate the pan and bake for another 10-15 minutes until the chicken reaches an internal temperature of 165°F (75°C).
Broil for 1-2 minutes for an extra charred effect.
Let the chicken rest for 5-7 minutes before slicing and serving.