A heat pump system comprising: a compressor, a first heat exchanger, a second heat exchanger, a third heat exchanger, a first valve, a second valve, a third valve, a fourth valve, and an intermediate heat exchanger, the intermediate heat exchanger comprising a first heat exchange portion and a second heat exchange portion, the first heat exchange portion and the second heat exchange portion being configured for exchanging heat with each other, a first port of the first heat exchange portion communicating with an inlet of the compressor, a second port of the first heat exchange portion communicating with at least one of an outlet of the second heat exchanger and a second port of the fourth valve, a first port of the fourth valve communicating with a second port of the third heat exchanger, a first port of the second heat exchange portion communicating with a first port of the third heat exchanger; characterized in that an outlet of the first heat exchanger communicates with the first port of the third heat exchanger through a first throttling element, the first throttling element providing a bypass around the first valve and the second heat exchange portion, an inlet of the first heat exchanger communicates with an outlet of the compressor through the second valve, and a second port of the third heat exchanger and the first port of the fourth valve communicate with the outlet of the compressor through the third valve; a second port of the second heat exchange portion communicates with a first port of the first valve, a second port of the first valve communicating with an inlet of the second heat exchanger; wherein the heat pump system is configured for operating in a cooling mode and a heating mode; and wherein in the heating mode of the heat pump system, the outlet of the first heat exchanger is in communication with the first port of the third heat exchanger through the first throttling element, the first valve is at least partially blocked, and the first throttling element is opened, and wherein the heat pump system further comprises a first path having the first throttling element, and the outlet of the first heat exchanger communicates with the first port of the third heat exchanger through the first path; the heat pump system further comprises a second path having the first valve and the second heat exchange portion, wherein the first port of the third heat exchanger communicates with the inlet of the second heat exchanger through the second path; and in the heating mode of the heat pump system, the outlet of the first heat exchanger is in communication with the first port of the third heat exchanger through the first path, the first valve makes the second path discommunicated, and the second port of the first heat exchange portion is in communication with the second port of the third heat exchanger. an outlet of the first heat exchanger communicates with the first port of the third heat exchanger through a first throttling element, the first throttling element providing a bypass around the first valve and the second heat exchange portion, an inlet of the first heat exchanger communicates with an outlet of the compressor through the second valve, and a second port of the third heat exchanger and the first port of the fourth valve communicate with the outlet of the compressor through the third valve; a second port of the second heat exchange portion communicates with a first port of the first valve, a second port of the first valve communicating with an inlet of the second heat exchanger; wherein the heat pump system is configured for operating in a cooling mode and a heating mode; and wherein in the heating mode of the heat pump system, the outlet of the first heat exchanger is in communication with the first port of the third heat exchanger through the first throttling element, the first valve is at least partially blocked, and the first throttling element is opened, and wherein the heat pump system further comprises a first path having the first throttling element, and the outlet of the first heat exchanger communicates with the first port of the third heat exchanger through the first path; the heat pump system further comprises a second path having the first valve and the second heat exchange portion, wherein the first port of the third heat exchanger communicates with the inlet of the second heat exchanger through the second path; and in the heating mode of the heat pump system, the outlet of the first heat exchanger is in communication with the first port of the third heat exchanger through the first path, the first valve makes the second path discommunicated, and the second port of the first heat exchange portion is in communication with the second port of the third heat exchanger.