What does refining do?

Onlyjayy - Heavens Tear

What does refining do?
I know it makes your equipment better, but how?
like higher damage or better protection against fire and wood?
Can someone please explain?
THank you

Accelerated - Sanctuary

Every armor piece refinement gives you additional HP.
Every physical defense/attack ring ornament refinement gives you additional physical defense.
Every magic defense/magic attack ring ornament refinement gives you additional magical defense/or resistance.
Every evasion ornament refinement gives you additional evasion.
Physical weapon refinement gives you additional physical attack.
Magical weapon refinement gives you additional physical attack and additional magic attack, obviously more magical attack increase than a physical.

Onlyjayy - Heavens Tear

thanksb:thanks