Here's a simple way to understand it...

Convert the first value from a hex value to an array of bits where: 0 = 0000, 1=0001, 2=0010, 3-0011, 4=0100, etc
   7    5    1    e    7    6    e ...
0111 0101 0001 1110 0111 0110 1110 ...

Change the spacing of the 1's and zeros so that they are grouped 5 in a set instead of 4:
01110 10100 01111 00111 01101 110 ...

Convert each set of 5 into a hex value:
01110 10100 01111 00111 01101 110...
   0e    14    0f    07    0d    ...   

3. Perform RIPEMD-160 hashing on the result of SHA-256:

4. The result of step 3 is an array of 8-bit unsigned integers (base 2^8=256) and Bech32 encoding converts this to an array of 5-bit unsigned integers (base 2^5=32) so we "squash" the bytes to get:
in hex: