Embodiments of the present disclosure provide a display panel and a display apparatus. Display substrate includes: light-emitting device groups, light-transmitting part groups and optical structure elements. The light-emitting device groups are on a base substrate, each light-emitting device group includes micro light-emitting diodes including first and second micro light-emitting diodes each to emit light of preset color; each light-transmitting part group includes light-transmitting parts including a first and second color conversion parts; and each optical structure group is to direct light emitted from the first micro light-emitting diode to the first color conversion part, and direct light emitted from the second micro light-emitting diode to the second color conversion part. The first color conversion part is to convert light of the preset color into light of a first color, and the second color conversion part is to convert light of the preset color into light of a second color.