the display module further comprises a first polarizing film, a first one-half wave plate and a first quarter wave plate; the first quarter wave plate, the first one-half wave plate and the first polarizing film are on a side of the first substrate away from the liquid crystal layer and are sequentially stacked in a direction away from the first substrate;

the first substrate comprises a transmissive region and a reflective region, and a thickness of a part of the liquid crystal layer in the transmissive region is greater than a thickness of a part of the liquid crystal layer in the reflective region;

the transmissive region allows light incident from a side of the first substrate away from the second substrate to pass through the transmissive region; the reflective region allows light incident from a side of the second substrate away from the first substrate to be reflected;

an angle between an absorption axis of the first polarizing film and a first direction is in a range of 85° to 105°;

an angle between a slow axis of the first one-half wave plate and the first direction is in a range of 105° to 125°;

a retardation amount of light with wavelength of 550 nm by the first one-half wave plate is in a range of 260 nm to 280 nm;

an angle between a slow axis of the first quarter wave plate and the first direction is in a range of −20° to 20°;

a retardation amount of light with wavelength of 550 nm by the first quarter wave plate is in a range of 136 nm to 170 nm; and

the first direction is a direction perpendicular to an initial alignment direction of the liquid crystal layer.