On January 27th, SM Entertainment announced they would be debuting a male idol group this year under the working name M-1. At that time SM had said the group would debut in March or April, but both those months have passed without the group debuting. 
On March 22, 2011 a photo of M-1 was leaked. There are seven people in the photo, so we can assume the group probably has seven members. It’s rumored that SM The Ballad’s Jino will be part of this group. 
SM’s CEO Lee Soo Man did a lecture at Stanford University recently. During the lecture he shared some information about M-1.
“Lee Soo Man stated, “We have a new team that we’re preparing that’s comprised of seven Koreans and five Chinese members. Both teams will be using the same name, but the five Chinese members will be promoting in China, and the seven Korean members will be promoting in Korea. They will be debuting simultaneously with the same song, but in Chinese and Korean versions. The two will debut and promote at the same time, but together, they’ll be one team. Plans for the group have finalized, and they will be launched in both China and Korea this May.”
Netizens have now nicknamed the groups “M1″ and “M2“, and rumor has it that SM Entertainment will be debuting yet another male group including rookie Jino from SM the Ballad, for a total of three rookie team debuts this year.” [update 1]
**Last updated April 1, 2011**