A display substrate includes a first display region and a second display region. The display substrate may include: a first base substrate; a second base substrate; a first barrier layer and a light emitting unit. The first base substrate includes a first through region penetrating the first base substrate, and the first barrier layer includes a second through region penetrating the first barrier layer. The second base substrate includes a first substrate sub-portion located in the first display region, the first substrate sub-portion penetrates the second through region, and at least a portion of the first substrate sub-portion is located in the first through region. The display substrate includes a recessed portion. The second base substrate includes a first surface located in the first display region and a second surface located in the second display region, and the first surface and the second surface are formed as a flat surface.