The invention is applicable to the technical field of display, and provides a display module and display equipment. A first substrate and a second substrate which are oppositely arranged are included;the first substrate comprises a first base, a main insulation pad and an auxiliary insulation pad; and the second substrate comprises a second base, a protective layer, a metal heightening layer anda transparent conductive heightening layer, the metal heightening layer is arranged in the protective layer, the transparent conductive heightening layer is arranged on one side of the protective layer, and the metal heightening layer and the transparent conductive heightening layer are arranged in a stacked mode and correspond to the main insulation pad. In the invention, the metal heightening layer and the transparent conductive heightening layer are arranged on the second substrate, and an avoidance groove is arranged in the protective layer so that a segment gap of the panel is increased,an increase amount is a sum of thickness of the metal heightening layer and the transparent conductive heightening layer and a depth of the avoidance groove, the segment gap is effectively increased,liquid crystal redundancy is increased too, and panel quality is improved.