A display module and a display device are disclosed. The display module includes a display panel, a heat dissipation film disposed on a side of the display panel facing away from a display side, and an ultrasonic fingerprint module. The heat dissipation film is provided with a first opening, and the ultrasonic fingerprint module includes a sensor disposed within the first opening and fixed on the side of the display panel facing away from the display side by a shading adhesive layer. The display module further includes a light shielding sheet attached on a side of the heat dissipation film facing away from the display panel. The light shielding sheet is provided with a second opening which exposes the sensor. An orthographic projection of the light shielding sheet and the shading adhesive layer on the display panel includes an orthographic projection of the first opening on the display panel.