A quantum dot composite includes a matrix and a plurality of quantum dots dispersed in the matrix, and a color conversion panel and a display panel including the same. The plurality of quantum dots include a metal including indium (In) and zinc and a non-metal including phosphorous (P), selenium, and sulfur, wherein the plurality of quantum dots includes a mole ratio of sulfur to indium of greater than or equal to about 3:1 and less than or equal to about 6:1, and a mole ratio of sulfur to selenium of greater than or equal about 0.69:1 and less than or equal to about 0.89, and a mole ratio of zinc to indium of greater than or equal to about 10:1 and less than or equal to about 12.4:1, and wherein the plurality of the quantum dots are configured to emit red light.