A light emitting device includes a transistor, a light reflection layer, a first insulation layer that includes a first layer thickness part, a second layer thickness part, and a third layer thickness part, a pixel electrode that is provided on the first insulation layer, a second insulation layer that covers a peripheral section of the pixel electrode, a light emission functional layer, a facing electrode, and a conductive layer that is provided on the first layer thickness part. The pixel electrode includes a first pixel electrode which is provided in the first layer thickness part, a second pixel electrode which is provided in the second layer thickness part, and a third pixel electrode which is provided in the third layer thickness part. The first pixel electrode, the second pixel electrode, and the third pixel electrode are connected to the transistor through the conductive layer.

A method of manufacturing a display substrate which includes a central display area and an arc-shaped stretch area located at a corner of the central display area, wherein the method includes: preparing a substrate to be etched, which includes a flexible substrate, a stack structure disposed on the flexible substrate, and a last-dry-etched metal layer disposed on a side of the stack structure away from the flexible substrate, the stack structure including an active layer, at least one conductive layer, and a plurality of insulating layers, wherein the last-dry-etched metal layer is a last metal layer that is formed through dry etching; and forming a stretch groove by patterning the substrate to be etched, wherein the stretch groove is disposed in the stretch area and passes through the stack structure and a part of the flexible substrate. A display substrate, a display panel and a display device are further provided.