Place beef slices in a mixing bowl and toss with ¼ teaspoon salt, ¼ teaspoon pepper, ¼ teaspoon five-spice powder, 2 teaspoons cornstarch, ½ tablespoon minced garlic and 1 tablespoon water. Then add 2 teaspoons oil and mix to combine. Set aside to marinate for 10-15 minutes.
Place a large heavy-bottomed pan over medium heat. Once the pan is hot, add some oil to coat the bottom. Add lemongrass slices once the oil is hot, stir and cook for about 2 minutes until lemongrass has reduced in volume and looked slightly golden and it smells aromatic. Transfer to a clean bowl.
Add julienned ginger and sauté until fragrant and softened, up to a minute. Then add the remaining minced garlic and sauté briefly until fragrant.
Increase the heat to medium-high, then add beef slices in a single layer and let them cook undisturbed for about 20-30 seconds to give them a nice sear. Then stir-fry for a few more seconds. Don't overcrowd the pan and cook in batches if needed.
While the beef is still slightly pink, add oyster sauce, fish sauce, lemongrass, all the chili peppers and remaining five-spice powder. Stir and toss quickly until beef is just cooked through and flavors are combined. Adjust seasonings to taste.
Transfer to serving plates. Sprinkle toasted sesame seeds on top and serve right away.