Epitaxial wafer, bonding wafer, light-emitting device, display panel and electronic equipment

The invention provides an epitaxial wafer, a bonding wafer, a light-emitting device, a display panel and electronic equipment. The epitaxial wafer includes a substrate, an N-type conductive layer, a first photoluminescent layer, an electroluminescent layer, and a P-type conductive layer. The substrate, the N-type conductive layer, the first photoluminescent layer, the electroluminescent layer and the P-type conductive layer are sequentially arranged. Or the substrate, the P-type conductive layer, the electroluminescent layer, the first photoluminescent layer and the N-type conductive layer are arranged in sequence. The electroluminescent layer is used for emitting light of a first wavelength. The first photoluminescence layer is used for emitting light with a second wavelength under the excitation of light with a first wavelength, and the first wavelength is smaller than the second wavelength. The light with the second wavelength is used for replacing the light with the first wavelength and is emitted out of