A display panel includes a second substrate. The second substrate includes a second base substrate and a shielding layer, an array structure layer, an insulating layer and a reflective layer which are sequentially disposed on a second base substrate, the array structure layer includes gate lines; the shielding layer includes a plurality of groups of light shielding units sequentially arranged along a first direction, each group of the light shielding units includes a plurality of independent sub-light shielding units sequentially arranged along a second direction, the reflective layer includes a plurality of reflective units arranged in an array, the plurality of reflective units form a plurality of reflective rows and a plurality of reflective columns, a first space area is formed between adjacent reflective columns, and a second space area is formed between adjacent reflective rows forms.