The invention provides a compound, a display panel and a display device. The compound is in a structure shown as a formula (I), wherein R1 and R2 refer to electron-donating groups and independently selected from any one of C1-C20 alkyl groups, C3-C20 cycloalkyl groups, C1-C20 alkoxy groups, a phenyl, a biphenyl, a naphthyl, an anthryl, a phenanthryl, an acenaphthylene group, a pyrenyl, a perylenegrouop, a fluorenyl, a spirobifluorene group, a chrysene group, a benzo-phenanthryl, a benzo-anthryl, a fluoranthene group, a pyrene groupo, a furyl, a benzofuryl, a substituted or unsubstituted dibenzofuran group, a substituted or unsubstituted thienyl, a benzothiophene group, a dibenzothiophene group, a phenoxazine group, a phenazinyl, a phenothiazinyl, a thianthrene group, a carbazolyl, an acridinyl and a diarylamine group, and m is selected from an integer range of 1-4. The compound is a material with AIE characteristics and TADF characteristics, triplet-state excitons are converted into singlet-state excitons through a reverse intersystem conversion process to realize radioluminescence, and the exciton utilization rate of luminescent materials is increased.