The present invention relates to a first substrate sheet, to a liquid crystal panel having the first substrate sheet, and to a method for manufacturing the same. It is an object of the present invention to simplify display apparatus manufacturing processes, improve yield, and reduce manufacturing costs, and to provide a display apparatus which is highly advantageous in manufacturing a flexible display, and a method for manufacturing the display apparatus. The object of the present invention can be accomplished by a first substrate sheet comprising a first substrate arranged to face a second substrate; a transparent electrode formed on one surface of the first substrate; a liquid crystal capsule which is mixed with a binder and printed on one surface of the first substrate on which the transparent electrode is formed; a transparent adhesive applied to entirely cover the liquid crystal capsule and the binder printed on the first substrate; and a releasing sheet which is attached to entirely cover the transparent adhesive applied on the first substrate, and which is made of a completely removable material which does not deteriorate the adhesive force of the transparent adhesive.