Blanch asparagus in boiling water for 2 to 4 minutes, depending on the thickness. Add a pinch of baking soda to make them even greener.
Transfer to an ice bath (water and ice) to stop them from cooking. Drain and set them aside.
Over medium heat, add about ¼ cup of oil in a skillet. Sauté ginger, garlic, and shallots until softened for about 3 minutes. Add chilies, chili garlic sauce, Shaoxing wine, fish sauce, 1 cup of water, sugar, and salt.
Let it simmer, then add butter. Taste and adjust as needed.
Rinse the shrimp and spread them out on a baking sheet. Season them with salt and pepper and lightly coat them with cornstarch.
Set a large skillet over high heat. Add oil to coat the bottom when the pan is hot and almost smoking.
Sear the shrimp for a minute on each side. Be careful not to overcook them. Do this in batches and add more oil as needed.
Arrange half of the shrimp and asparagus in a dish. Distribute half of the sauce evenly, then do the same for the rest.
Serve with some sliced scallions, chopped cilantro, fried garlic, or fried shallots as desired.