The former NY Knicks point guard -- who now competes for the Kaohsiung 17LIVE Steelers in Taiwan's P. League+ -- was playing against the Formosa Taishin Dreamers at the Fengshan Arena ... when he caught an inadvertent elbow to the face.

The blow caused him to lose his balance -- and when he came crashing to the floor, his head smacked against the hardwood.

You can see in replays of the incident, the 34-year-old's body seemed to have a fencing response to the injury ... and trainers raced over quickly to make sure he was all right.

Eventually, Lin got up on his feet -- but the footage shows he was woozy ... and bleeding from his nose and mouth area.

According to South China Morning Post, Lin was taken to the hospital for evaluation -- but, thankfully, he was able to return to the arena a short time later to cheer on his teammates. The outlet reported he was diagnosed with "symptoms of concussion."

Later Sunday, Lin released a statement on Twitter saying he'd be OK.

"LOVE to the best teammates, coaches, staff, and fans. Ty for everyone's wishes, I'll be back healthy soon," Lin wrote. "We fought til the end, we hold our heads high, we absolutely did not fail! I'll never forget this season. All glory to God! From the bottom of my heart, thank you."

As for the game, Lin's Steelers missed out on the final playoff spot after losing to the Dreamers, 92-89. Lin said afterward he was not sure if he would return for another season.

"It is a year-by-year decision," he said. "I shall discuss it with my family and friends."