Add flour, salt, Chinese five spice and cayenne pepper into a big bowl, use a fork to mix well. Add egg yolk and continue to mix a few times. Gradually add in beer and mix until fully incorporated. Set aside.

Thoroughly dry calamari before dipping into beer batter. A moist surface will cause the batter to fall off the calamari.

Place 2 layers of paper towel on a large plate and set it aside.

Mix all the ingredients to make yogurt sauce. Set aside.

Heat oil in a wok or a skillet on medium high heat. When oil is hot, coat calamari with batter and carefully place into oil, one by one. Do not add too many pieces at once, as it will cause the oil temperature to drop immediately and affect the frying process. Be careful not to overlap the calamari in the pan. It will cause the coating to turn soggy. Fry until golden brown. Transfer squid onto the plate with paper towel. Fry the rest of the calamari batch by batch.

The coating will turn crispy after the calamari cools down a bit. Serve immediately with yogurt sauce.