An array substrate includes: a base substrate; a sub-pixel region on the base substrate in which a first electrode and a second electrode are provided, one of the first electrode and the second electrode being a common electrode, the other being a pixel electrode; an insulating layer between the first electrode and the second electrode; the sub-pixel region comprises right opposite overlapping regions between the first electrode and the second electrode that are disposed in different layers and non-right opposite overlapping regions; and hollowed-out regions are provided at least in regions of the insulating layer that correspond to the non-right opposite overlapping regions. The array substrate is used to provide a liquid crystal panel with low power dissipation.