Step 1

Cut beef with the grain into 2-inch-wide strips. Cut each strip across the grain into 1/4-inch-thick slices. Combine the beef, cornstarch, 1½ tsp. soy sauce, and 1 tsp. sherry in a medium bowl; stir until the cornstarch is no longer visible. Add 1 tsp. oil and stir until the beef is lightly coated.

Step 2

Combine hoisin sauce, ketchup, chile-garlic sauce (or Sriracha) to taste, and the remaining 1½ tsp. soy sauce and 1 Tbsp. sherry in a small bowl. Set aside.

Step 3

Heat a 14-inch flat-bottomed carbon-steel wok (or a 12-inch stainless-steel skillet) over high heat until a drop of water vaporizes within 1 to 2 seconds of contact. Swirl in the remaining 1 Tbsp. oil. Add ginger and stir-fry until fragrant, about 10 seconds. Push the ginger to the sides of the pan and add the beef in an even layer. Cook, undisturbed, until the beef begins to brown, about 1 minute. Add onion and, using a metal spatula, stir-fry until the beef is lightly browned but not cooked through, 30 seconds to 1 minute more. Transfer the beef and onion mixture to a plate.

Step 4

Add green and red peppers and broth to the pan. Cover and cook over high heat until the peppers are bright green and red and almost all the liquid has been absorbed, about 1 minute. Return the beef and onion and any accumulated juices to the pan. Add the reserved sauce and stir-fry until the beef is just cooked through and the peppers are tender-crisp, 30 seconds to 1 minute. Remove the ginger, if desired.