Heat cooking oil in a saucepan over medium heat.
Then, add the shallot slices and fry them until fragrant.
Once the shallots turn golden, remove them from the saucepan and set aside.
Add the minced garlic into the same pan and stir until it becomes aromatic and slightly golden.
Add the hoisin sauce and stir it well with the garlic.
Add the peanut sauce and stir to combine.
Pour in the milk and continue stirring until the mixture slightly thickens (about 3 minutes).
Spoon the sauce into a small bowl. Sprinkle the roasted peanuts, fried shallots, and ground chili on top. Enjoy!