Rinse the fish with salt and rice wine to remove any fishy smell. Clean the fish skin with lemongrass leaves and salt. Marinate the fish with fish sauce, shallots, minced lemongrass, minced chili, and black pepper. Let it sit for 30 minutes to absorb the flavors.

Combine water and rock sugar in a pot to make caramel sauce, then add the marinated fish, lemongrass stalks, and chili peppers.

Pour in coconut water and braise the fish, continuously spooning the sauce over the fish so it absorbs the flavors and develops a rich color.

Once the fish is cooked, sprinkle with black pepper and add more chili if desired.