NRDC and the Sichuan Energy Internet Research Institute jointly organized a workshop on "The Development of Virtual Power Plants (VPPs): Contribution of Air Conditioners and Electric Vehicles," at which the Shenzhen Institute of Advanced Technology of the Chinese Academy of Sciences (SIAT) released this report. As an innovative power management model, VPPs can effectively enhance the flexibility of power systems and increase their capacity to integrate renewable energy. VPPs could provide strong support in improving power grid balancing and regulation capabilities. Shenzhen is at the forefront of VPP development nationwide. Focusing on the utilization of air conditioner and electric vehicle resources in Shenzhen, SIAT's report analyzes and evaluates the current status and response potential of Shenzhen's VPP development. SIAT has also proposed recommendations for advancing VPP development in Shenzhen based on international experience and research findings, providing valuable insights for the sustainable growth of VPPs across the country.