We perform a systematic study of B B * , B * B * , D D * and D * D * systems by using effective interaction in our chiral quark model. Our results show that the interactions of B B * , B * B * , D D * and D * D * states are attractive, which consequently result in B B * , B * B * , D D * and D * D * bound states. The recent observed exotic-like hadrons of Z b (10610) and Z b (10650) are, therefore, interpreted as loosely bound states of B B * and B * B * , while X (3872) and Y (3940) are D D * and D * D * molecular states, respectively.