Abstract: When preparing cold working dies made of Cr12MoV steel it usually should be repeatedly forged in order to break the eutectic carbide and eliminate its segregation, so that homogeniety of mechanical properties can be guaranteed and deformation or rupture can be avoided in heat treatment. A new precision casting process used in bicycle industry has been developed to prepare cold working dies. It is necessary neither to repeadedly forge to break carbide nor to anneal at high temperature to dissolve it. Embedding fine but hard eutectic carbide network in rather softer sorbite base, its wearability can be appreciably improved. As a result of that, its service life can be increased three times.