A display panel which includes a substrate; a functional layer, the functional layer having a body portion and a groove formed by a recess in a surface of the body portion away from the substrate; and an insulating layer, located on one side of the functional layer away from the substrate, the insulating layer having a first sub-layer and a second sub-layer which are stacked, the second sub-layer having a first hole penetrating therethrough, and an orthographic projection of the groove on the substrate being located within an orthographic projection of the first hole on the substrate.