Which post-refresh hook is executed after refresh?

After the refresh, I want to know which post-refresh hook is executed? The post-refresh hook from old installation or new installation?

The pre-refresh hook β€œis executed for the already installed revision of the snap with its services still running (if the snap has any services) and before switching to the newly installed revision.”

While the post-refresh hook β€œis executed for the newly installed snap, before starting new services (if applicable).”

So seems that post-refresh is from the new snap and pre-refresh is from the old snap.